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.
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