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Developed in the classroom by two of the most prominent researchers in the field, Feenstra and Taylor’s International Economics is a modern textbook for a modern audience, connecting theory to empirical evidence and expanding beyond the traditional focus on advanced companies to cover emerging markets and developing economies. Essentials of International Economics, Third Edition is the brief version of that textbook designed for a one-semester course covering both international trade and international macroeconomics.The new edition has been thoroughly updated, including the latest on the Eurozone crisis.
Robert C. Feenstra is Professor of Economics at the University of California, Davis. He received his B.A. in 1977 from the University of British Columbia, Canada, and his Ph.D. in economics from MIT in 1981. Feenstra has been teaching international trade at the undergraduate and graduate levels at UC Davis since 1986, where he holds the C. Bryan Cameron Distinguished Chair in International Economics. Feenstra is a research associate of the National Bureau of Economic Research, where he directs the International Trade and Investment research program. He is the author of Offshoring in the Global Economy and Product Variety and the Gains from Trade (MIT Press, 2010). Feenstra received the Bernhard Harms Prize from the Institute for World Economics, Kiel, Germany, in 2006, and delivered the Ohlin Lectures at the Stockholm School of Economics in 2008. He lives in Davis, California, with his wife Gail, and has two grown children: Heather, who is a genetic counselor; and Evan, who recently graduated from Pitzer College.
Table of Contents
1. The Global Economy 2. Trade and Technology: The Ricardian Model 3. Gains and Losses from Trade in the Specific-Factors Model 4. Trade and Resources: The Heckscher-Ohlin Model 5. Movement of Labor and Capital between Countries 6. Increasing Returns to Scale and Monopolistic Competition 7. Import Tariffs and Quotas Under Perfect Competition 8. Import Tariffs and Quotas Under Imperfect Competition 9. International Agreements: Trade, Labor, and the Environment 10. Introduction to Exchange Rates and the Foreign Exchange Market 11. Exchange Rates I: The Monetary Approach in the Long Run 12. Exchange Rates II: The Asset Approach in the Short Run 13. National and International Accounts: Income, Wealth, and the Balance of Payments 14. Output, Exchange Rates, and Macroeconomic Policies in the Short Run 15. Fixed Versus Floating: International Monetary Experience 16. The Euro