International Economics, 13th Australia and New Zealand Edition

ISBN: 9781119667513

International Economics, 13th Australia and New Zealand Edition provides students with a comprehensive, up-to-date review of the field’s essential principles and theory. This comprehensive textbook explains the concepts necessary to understand, evaluate, and address the economic problems and issues the nations of the world are currently facing, and are likely to face in the future. Balancing depth and accessibility, the text helps students identify the real-world relevance of the material through extensive practical applications and examples.

The new, thoroughly-updated and expanded edition provides students with a solid knowledge base in international trade theory and policy, balance of payments, foreign exchange markets and exchange rates, open-economy macroeconomics, and the international monetary system. The text uniquely employs the same graphical and numerical model in chapters that cover the same basic concept, allowing students to recognise the relationship among the different topics without having to start with a new example each time. Clear, straightforward discussions of each key concept and theory are complemented by concrete, accessible, and relatable examples that serve to strengthen student comprehension and retention. Topics include the ‘Great Recession,’ the increase in trade protectionism, excessive volatility and large misalignments of exchange rates, and the impacts of resource scarcity and climate change to continued growth and sustainable development.

Features

  • Provides over 120 case studies to reinforce understanding and highlight the most important topics presented in the chapter
  • Offers a full complement of pedagogical tools, such as chapter summaries, key term lists, problem sets, links to data sources, information, and analyses, and a corresponding website for each chapter
  • Analyses of the danger of another global financial crisis resulting from new financial bubbles and the excessive national debt of many emerging market economies
Dominick Salvatore
Chapter 1. Introduction

Part 1 International Trade Theory

Chapter 2. The Law of Comparative Advantage
Chapter 3. The Standard Theory of International Trade
Chapter 4. Demand and Supply, Offer Curves and The Terms of Trade
Chapter 5. Factor Endowments and the Heckscher-Ohlin Theory
Chapter 6. Economies of Scale, Imperfect Competition and International Trade
Chapter 7. Economic Growth and International Trade

Part 2 International Trade Policy

Chapter 8. Trade Restrictions: Tariffs
Chapter 9. Nontariff Trade Barriers and the New Protectionism
Chapter 10. Economics Integration: Customs Unions and Free Trade Areas
Chapter 11. International Trade and Economic Development
Chapter 12. International Resource Movements and Multinational Corporations
Chapter 13. Balance of Payments
Chapter 14. Foreign Exchange Markets and Exchange Rates
Chapter 15. Exchange Rate Determination

Part 3 Open-Economy Macroeconomics and the International Monetary System

Chapter 16. The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates
Chapter 17. The Income Adjustment Mechanism and Synthesis of Automatic Adjustments
Chapter 18. Open-Economy Macroeconomics: Adjustment Policies
Chapter 19. Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply
Chapter 20. Flexible Versus Fixed Exchange Rates, The European Monetary System and Macroeconomic Policy Coordination
Chapter 21. The International Monetary System: Past, Present and Future

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E-Text: 9781119674238
Textbook: 9781119667513