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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. Most international economics textbooks emphasize theory and the economies of advanced countries. Feenstra and Taylor’s text anchors theoretical coverage to empirical evidence throughout, while reflecting the realities of the global economy by covering emerging markets and developing countries (India, China, Southeast Asia). The new edition has been thoroughly updated, including the latest on the Eurozone crisis. In addition, it will be available in it’s own dedicated version of LaunchPad, Worth Publishers’ breakthrough new online course space.
Available in Different Versions Feenstra and Taylor’s International Economics, Third Edition is available in a variety of versions, to fit the ways the course is most often taught. • A full version for the two-semester sequence covering international trade and macroeconomics • Split volumes for one-semester courses focusing on either trade or macroeconomics • A brief version, Essentials of International Economics, for courses covering trade and macroeconomics in one semester.
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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
PART 1 Introduction to International Trade 1. Trade in the Global Economy
PART 2 Patterns of International Trade 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
PART 3 New Explanations for International Trade 6. Increasing Returns to Scale and Monopolistic Competition 7. Offshoring of Goods and Services
PART 4 International Trade Policies 8. Import Tariffs and Quotas Under Perfect Competition 9. Import Tariffs and Quotas Under Imperfect Competition 10. Export Subsidies in Agriculture and High-Technology Industries 11. International Agreements: Trade, Labor, and the Environment
PART 5 Introduction to International Macroeconomics 12. The Global Macroeconomy
PART 6 Exchange Rates 13. Introduction to Exchange Rates and the Foreign Exchange Market 14. Exchange Rates I: The Monetary Approach in the Long Run 15. Exchange Rates II: The Asset Approach in the Short Run
PART 7 The Balance of Payments 16. National and International Accounts: Income, Wealth, and the Balance of Payments 17. Balance of Payments I: The Gains from Financial Globalization 18. Balance of Payments II: Output, Exchange Rates, and MacroeconomicPolicies in the Short Run
PART 8 Applications and Policy Issues 19. Fixed Versus Floating: International Monetary Experience 20. Exchange Rate Crises: How Pegs Work and How They Break 21. The Euro 22. Topics in International Macroeconomics