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International Economics,9780072487480
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International Economics



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  • International Economics
    International Economics
  • International Economics
    International Economics
  • International Economics
    International Economics
  • International Economics
    International Economics


This classic text has sold well for over 35 years because it covers all the conventional areas of international economics in an easy-to-understand manner. The 12th edition has been thoroughly revised and it continues to be accessible, flexible, and interesting to economics and business majors alike. Like earlier editions, it also places international economics events within an historical framework. The overall treatment continues to be intuitive rather than mathematical and is strongly oriented towards policy.

Author Biography

Thomas A. Pugel is Professor of Economics and International Business at the Stern School of Business, New York University and a Fellow of the Teaching Excellence Program at the Stern School.

Table of Contents

1. International Economics Is Different

Part I: The Theory of International Trade

2. The Basic Theory Using Demand and Supply

3. Why Everybody Trades: Comparative Advantage and Factor Proportions

4. Who Gains and Who Loses from Trade?

5. Alternative Theories of Trade

6. Growth and Trade

Part II: Trade Policy

7. The Basic Analysis of Tariffs

8. Nontariff Barriers to Imports

9. Arguments For and Against Protection

10. Pushing Exports

11. Trade Blocs and Trade Blocks

12. Trade and the Environment

13. Trade Policies for Developing and Transition Countries

14. Multinationals and Migration: International Factor Movements

Part III: Understanding Foreign Exchange

15: Payments Among Nations

16. The Foreign Exchange Market

17. Forward Exchange and International Financial Investment

18. What Determines Exchange Rates

19. Government Policies Toward the Foreign Exchange Market

20. International Lending and Financial Crises

Part IV: Macro Policies for Open Economies

21. How Does the Open Macroeconomy Work?

22. Internal and External Balance with Fixed Exchange Rates

23. Floating Exchange Rates and Internal Balance

24. National and Global Choices: Floating Rates and the Alternatives

Appendix A: Where the International Information Is

Appendix B: Deriving Production-Possibilities Curves

Appendix C: Offer Curves

Appendix D: The Nationally Optimal Tariff

Appendix E: Many Parities at Once

Appendix F: Aggregate Demand and Aggregate Supply in the Open Economy

Appendix G: Devaluation and the Current Account

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