INTERNATIONAL ECONOMICS AND POLICY

Relying on economic theory where necessary, this book emphasizes translating that theory into practical applications that will help students appreciate the clear importance of understanding how countries, businesses, workers, and governments interact with each other. It offers in-depth analysis, empirical evidence, and practical examples arising from all the forms of international exchange: international trade, or the exchange of goods and services across borders; international finance, or the roles that currencies, exchange rates, prices, and monetary systems play in facilitating global investment and trade; global migration, through which workers move from lower-wage countries to higherwage countries; the international flows of capital and knowledge through multinational enterprises and global supply chains; and the global policy architecture underlying these flows. The book pays particular attention to how globalization and technological change affect economic inequality, a primary policy issue today.

Contents:

• Introduction to International Economics
• Basic Theoretical Tools Used in International Trade
• The Ricardian (Classical) Trade Model
• The Factor Proportions (Heckscher–Ohlin) Model of Trade
• Globalization, Technology, and Inequality
• Intra-industry Trade and the Product Cycle Model
• Import Tariffs and Export Subsidies
• Import Quotas and Other Non-tariff Barriers
• US Trade Policy and the World Trade Organization
• Preferential Trade Agreements (PTAs)
• International Labor Migration
• Foreign Direct Investment, Offshoring, and Global Supply Chains
• The Basics of International Finance
• Foreign Exchange Markets and Exchange Rates in the Short Run
• Exchange Rates in the Long Run and Purchasing Power Parity (PPP)
• National Income and the Balance of Payments
• Fixed and Flexible Exchange Rate Systems
• Exchange Rate Crises
• The Euro System

Readership: Primary market: Researchers, graduates, undergraduates, and those teaching Economics at the graduate and post-graduate levels. Secondary market: General readers interested in Economics.

Key Features:

• The book provides students who are not economics majors a comprehensive introduction to the workings of international economics and policy
• The lecture notes style of the book gives students and instructors a more streamlined approach to understanding the complexities of the global economy
• The book provides practical and illustrative examples as well as study questions to test the students' understanding of the concepts and lessons presented