International Economics

Name: International Economics
Price: 5000 ISK
Availability: InStock
Author: Dominick Salvatore; Ralf Hepp
ISBN: 9781394313563

Höfundar: Dominick Salvatore; Ralf Hepp (Útgáfa: 14)

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The gold standard introduction to international economics, revised and updated In the newly revised 14th edition of International Economics, distinguished economists and professors Dominick Salvatore and Ralf Hepp deliver an authoritative and up-to-date examination of the economic theories and principles driving the contemporary global economy. This text covers the latest economic developments around the world, including elevated public debt levels following the COVID-19 pandemic, rising trade protectionism and the U.

S. -China trade war, exchange rate volatility, structural economic imbalances, persistent global poverty, and the increasingly urgent issues of resource scarcity and environmental sustainability. International Economics explores foundational and cutting-edge concepts in international trade and finance with exceptional clarity. It incorporates significant new material on globalization’s evolving impact, technological advances reshaping trade patterns, the establishment of global value chains, the regionalization of trade flows, climate change policies affecting international commerce, and updated research on exchange rate determination and pass-through effects.

It also contains 126 case studies, complete with detailed graphs and figures and real-world examples. Perfect for undergraduate and graduate students of economics, international trade, international finance, and international business courses, International Economics offers a thorough grounding in classical and contemporary theory, as well as practical insights into the policy debates shaping the global economy.

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Útgefandi: Wiley Global Education US

ISBN: 9781394313563

Print ISBN: 9781394313600

Format: ePub

Útgáfa: 14

Höfundar: Dominick Salvatore; Ralf Hepp

Tungumál: English

Útgefið: 2026-01-09

Prent takmörkun á líftíma: 100

Prent takmörkun: 10

Afritunar takmörkun: 2

Flokkar: Stjórnmálafræði

Efnisflokkar: Stjórnmálafræði › Viðskipti og tollar

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Cover
Table of Contents
Title Page
Copyright
Dedication
Preface
Significant International Developments
New to the 14th Edition
Acknowledgments
Case Studies
CHAPTER 1: Introduction
1.1 The Globalization of the World Economy
1.2 International Trade and the Nation’s Standard of Living
1.3 The International Flow of Goods, Services, Labor, and Capital
1.4 International Economic Theories and Policies
1.5 Current International Economic Problems and Challenges
1.6 Organization and Methodology of the Text
Summary
Key Terms
Questions for Review
Problems
Appendix
PART 1: International Trade Theory
CHAPTER 2: The Law of Comparative Advantage
2.1 Introduction
2.2 The Mercantilists’ Views on Trade
2.3 Trade Based on Absolute Advantage: Adam Smith
2.4 Trade Based on Comparative Advantage: David Ricardo
2.5 Comparative Advantage and Opportunity Costs
2.6 The Basis for and the Gains from Trade Under Constant Costs
2.7 Empirical Tests of the Ricardian Model
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 3: The Standard Theory of International Trade
3.1 Introduction
3.2 The Production Possibilities Frontier with Increasing Costs
3.3 Community Indifference Curves
3.4 Equilibrium in Isolation
3.5 The Basis for and the Gains from Trade with Increasing Costs
3.6 Trade Based on Differences in Tastes
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 4: Demand and Supply, Offer Curves, and the Terms of Trade
4.1 Introduction
4.2 The Equilibrium-Relative Commodity Price with Trade—Partial Equilibrium Analysis
4.3 Offer Curves
4.4 The Equilibrium-Relative Commodity Price with Trade—General Equilibrium Analysis
4.5 Relationship Between General and Partial Equilibrium Analyses
4.6 The Terms of Trade
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 5: Factor Endowments and the Heckscher–Ohlin Theory
5.1 Introduction
5.2 Assumptions of the Theory
5.3 Factor Intensity, Factor Abundance, and the Shape of the Production Possibilities Frontier
5.4 Factor Endowments and the Heckscher–Ohlin Theory
5.5 Factor–Price Equalization and Income Distribution
5.6 Empirical Tests of the Heckscher–Ohlin Model
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 6: Economies of Scale, Imperfect Competition, and International Trade
6.1 Introduction
6.2 The Heckscher–Ohlin Model and New Trade Theories
6.3 Economies of Scale and International Trade
6.4 Imperfect Competition and International Trade
6.5 Trade Based on Dynamic Technological Differences
6.6 Costs of Transportation, Environmental Standards, Technology, and International Trade
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 7: Economic Growth and International Trade
7.1 Introduction
7.2 Growth of Factors of Production
7.3 Technical Progress
7.4 Growth and Trade: The Small-Country Case
7.5 Growth and Trade: The Large-Country Case
7.6 Growth, Change in Tastes, and Trade in Both Nations
Summary
Key Terms
Questions for Review
Problems
Appendix
PART 2: International Trade Policy
CHAPTER 8: Trade Restrictions: Tariffs
8.1 Introduction
8.2 Partial Equilibrium Analysis of a Tariff
8.3 The Theory of Tariff Structure
8.4 General Equilibrium Analysis of a Tariff in a Small Country
8.5 General Equilibrium Analysis of a Tariff in a Large Country
8.6 The Optimum Tariff
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 9: Nontariff Trade Barriers and the New Protectionism
9.1 Introduction
9.2 Import Quotas
9.3 Other Nontariff Barriers and the New Protectionism
9.4 The Political Economy of Protectionism
9.5 Strategic Trade and Industrial Policies
9.6 History of U.S. Commercial Policy
9.7 The Uruguay Round and the Failed Doha Round
9.8 Outstanding Trade Problems and Some New Developments
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 10: Economic Integration: Customs Unions and Free Trade Areas
10.1 Introduction
10.2 Trade-Creating Customs Union
10.3 Trade-Diverting Customs Unions
10.4 The Theory of the Second Best and Other Static Welfare Effects of Customs Unions
10.5 Dynamic Benefits from Customs Unions
10.6 History of Attempts at Economic Integration
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 11: International Trade and Economic Development
11.1 Introduction
11.2 The Importance of Trade to Development
11.3 The Terms of Trade and Economic Development
11.4 Export Instability and Economic Development
11.5 Import Substitution Versus Export Orientation
11.6 Current Problems Facing Developing Countries
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 12: International Resource Movements and Multinational Corporations
12.1 Introduction
12.2 Some Data on International Capital Flows
12.3 Motives for International Capital Flows
12.4 Welfare Effects of International Capital Flows
12.5 Multinational Corporations
12.6 Motives for and Welfare Effects of International Labor Migration
Summary
Key Terms
Questions for Review
Problems
Appendix
PART 3: The Balance of Payments, Foreign Exchange Markets, and Exchange Rates
CHAPTER 13: Balance of Payments
13.1 Introduction
13.2 Balance of Payments Accounting
13.3 The International Transactions of the United States
13.4 Accounting Balances and the U.S. Balance of Payments
13.5 The Postwar Balance of Payments of the United States
13.6 The Importance of the Current Account
13.7 The International Investment Position of the United States
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 14: Foreign Exchange Markets and Exchange Rates
14.1 Introduction
14.2 Functions of the Foreign Exchange Markets
14.3 Foreign Exchange Rates
14.4 Spot and Forward Rates, Currency Swaps, Futures, and Options
14.5 Foreign Exchange Risks, Hedging, and Speculation
14.6 Interest Arbitrage and the Efficiency of Foreign Exchange Markets
14.7 Eurocurrency or Offshore Financial Markets
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 15: Exchange Rate Determination
15.1 Introduction
15.2 Purchasing-Power Parity Theory
15.3 Monetary Approach to the Balance of Payments and Exchange Rates
15.4 Portfolio Balance Model and Exchange Rates
15.5 Exchange Rate Dynamics
15.6 Empirical Tests of the Monetary and Portfolio Balance Models and Exchange Rate Forecasting*
15.7 Recent Theoretical and Empirical Developments
Summary
Key Terms
Questions for Review
Problems
Appendix
Notes
PART 4: Open-Economy Macroeconomics and the International Monetary System
CHAPTER 16: The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates
16.1 Introduction
16.2 Adjustment with Flexible Exchange Rates
16.3 Effect of Exchange Rate Changes on Domestic Prices and the Terms of Trade
16.4 Stability of Foreign Exchange Markets
16.5 Elasticities in the Real World
16.6 Adjustment Under the Gold Standard
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 17: The Income Adjustment Mechanism and Synthesis of Automatic Adjustments
17.1 Introduction
17.2 Income Determination in a Closed Economy
17.3 Income Determination in a Small Open Economy
17.4 Foreign Repercussions
17.5 Absorption Approach
17.6 Monetary Adjustments and Synthesis of the Automatic Adjustments
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 18: Open-Economy Macroeconomics: Adjustment Policies
18.1 Introduction
18.2 Internal and External Balance with Expenditure-Changing and Expenditure-Switching Policies
18.3 Equilibrium in the Goods Market, in the Money Market, and in the Balance of Payments
18.4 Fiscal and Monetary Policies for Internal and External Balance with Fixed Exchange Rates
18.5 The IS–LM–BP Model with Flexible Exchange Rates
18.6 Policy Mix and Price Changes
18.7 Direct Controls
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 19: Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply
19.1 Introduction
19.2 Aggregate Demand, Aggregate Supply, and Equilibrium in a Closed Economy
19.3 Aggregate Demand in an Open Economy Under Fixed and Flexible Exchange Rates
19.4 Effect of Economic Shocks and Macroeconomic Policies on Aggregate Demand in Open Economies with Flexible Prices
19.5 Effect of Fiscal and Monetary Policies in Open Economies with Flexible Prices
19.6 Macroeconomic Policies to Stimulate Growth and Adjust to Supply Shocks
Summary
Key Terms
Questions for Review
Problems
CHAPTER 20: Flexible Versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination
20.1 Introduction
20.2 The Case for Flexible Exchange Rates
20.3 The Case for Fixed Exchange Rates
20.4 Optimum Currency Areas, the European Monetary System, and the European Monetary Union
20.5 Currency Board Arrangements and Dollarization
20.6 Exchange Rate Bands, Adjustable Pegs, Crawling Pegs, and Managed Floating
20.7 International Macroeconomic Policy Coordination
Summary
Key Terms
Questions for Review
Problems
Appendix
CHAPTER 21: The International Monetary System: Past, Present, and Future
21.1 Introduction
21.2 The Gold Standard and the Interwar Experience
21.3 The Bretton Woods System
21.4 Operation and Evolution of the Bretton Woods System
21.5 U.S. Balance-of-Payments Deficits and Collapse of the Bretton Woods System
21.6 The International Monetary System: Present and Future
Summary
Key Terms
Questions for Review
Problems
Appendix
Glossary of Key Terms
Name Index
Subject Index
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