International Economics Global Markets and Competition

ISBN-10: 9814307025

ISBN-13: 9789814307024

Edition: 3rd 2010

Authors: Henry Thompson

List price: $56.00
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This book integrates the microeconomics of trade with international finance and open economy macroeconomics. The emphasis throughout is on international competition and the limits of trade policy. Economics began with a debate over tariffs. Domestic industries lobby for protection against foreign competitors or export subsidies. Government policy makers dole favors in return for cash and votes. Governments negotiate free trade agreements but disregard them when possible with tariffs, export subsidies, and other policies to influence foreign trade and investment. The forces of international competition, however, eventually overwhelm government policy. This text presents the critical issues of international trade and finance. Trade theory includes partial equilibrium market analysis, neoclassical trade models, constant cost production, factor proportions production, and models of industrial organization. The text integrates concepts from international finance and the basic models of open economy macroeconomics. The presentation uses graphs with numerical examples making the theory easier for students, especially when combined with more general classroom presentation. The text does not assume previous courses in intermediate economics or calculus but develops the theory with simple tools. Numerous questions give students confidence to use the theoretical models and concepts. Over 250 boxed examples illustrate the theory, many with visually descriptive charts and plots. The text is concise in its presentation style. Students enjoy its clear straightforward style and instructors notice the difference on exams.
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Book details

List price: $56.00
Edition: 3rd
Copyright year: 2010
Publisher: World Scientific Publishing Co Pte Ltd
Publication date: 4/14/2011
Binding: Paperback
Pages: 540
Size: 7.25" wide x 10.25" long x 1.00" tall
Weight: 1.914
Language: English

Preface for Students
Preface for Instructors
Trade and Proctectionism
Markets and Trade
International Markets
Excess Supply and Demand
The Balance of Trade
Comparative Advantage and Specialization
Gains from Trade
The Production Frontier and Real Income
Specialization and the Gains from Trade
Trade and Growth
Industrial Trade Policy
Tariffs: Taxes on Imports
Quotas and Other Nontariff Barriers
Protection and Production
Political Economy of Protection
Terms of Trade
Offer Curves
Tariffs and the Terms of Trade
Tariff Games
Trade in Natural Resources
Production and Trade
Trade with Constant Cost Production
Constant Opportunity Costs
Gains from Trade with Constant Costs
Extending Constant Cost Trade Theory
Applications of Constant Cost Trade Theory
Factors of Production and Trade
Specific Factors and Trade
2 � 2 Production and Trade
Four Trade Theorems
Applying Factor Proportions Trade Theory
Industrial Organization and Trade
Price Searching Firms and Trade
Intraindustry Trade
Other Causes of Trade
International Integration
International Migration and Capital
International Migration
Foreign Capital
Migration, Foreign Investment, and Income Redistribution
Migration, Foreign Capital, and Trade
International Economic Integration
Multinational Firms
International Externalities
International Political Economy
Steps of Economic Integration
International Macroeconomics
Balance of Payments
Elasticities and the Trade Balance
Current and Capital Accounts
International Deficits and Surpluses
International Fiscal and Monetary Policy
Foreign Exchange Rates
FX Rates
Managed Exchange Rates
Foreign Exchange Trading
Exchange Risk
Money and International Financial Markets
The International Credit Market
International Finance and FX Rates
International Money
Money and International Finance
Open Economy Macroeconomics
Micro Foundations
Closed Economy Macroeconomics
The Open Economy
The FX Rate and Macro Policy
Hints and Partial Answers
Name Index
Subject Index
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