International economics / Steven Husted, Michael Melvin.

Includes bibliographical references and index.

Chapter 1: An Introduction to International Trade Introduction Characteristics of National Economies Economic Growth International TradeThe Direction of International TradeWhat Goods Do Countries Trade?SummaryExercises Chapter 2:Tools of Analysis for International Trade Models Introduction Some Methodological PreliminariesThe Basic Model: AssumptionsThe Basic Model: SolutionsMeasuring National WelfareNational Supply and DemandSummaryExercisesAppendix 2.1: Derivation of National Supply and Demand Curves Chapter 3: The Classical Model of International TradeIntroduction Absolute Advantage as a Basis for Trade: Adam Smith's ModelComparative Advantage as a Basis for Trade: David Ricardo's Model.The General Equilibrium Solution of the Classical ModelThe Gains from International TradeThe Relationship Between Trade and WagesAn Evaluation of the Classical ModelSummaryExercisesAppendix 3.1Appendix 3.2 Chapter 4: The Heckscher-Ohlin ModelIntroduction The HO Model: Basic AssumptionsThe HO TheoremEquilibrium in the HO ModelSome New HO TheoremsSome Final Observations.SummaryExercisesAppendix 4.1Appendix 4.2 Chapter 5: Tests of Trade Models: The Leontief Paradox and Its Aftermath Introduction Tests of the Classical ModelTests of the HO ModelAttempted Reconciliations of Leontief's FindingsOther Tests of the HO ModelSummaryExercises Chapter 6: TariffsIntroduction The Gains from Free TradeTariffs: An IntroductionTariffs: An Economic AnalysisThe Gains From Free Trade: One More TimeThe Welfare Cost of TariffsTariffs: Some Extensions Export Tariff The Optimal Tariff How High are TariffsSummaryExercisesReferences Chapter 7: Nontariff Barriers and Arguments for ProtectionIntroduction QuotasThe Welfare Effects of QuotasThe Equivalence of Nonequivalence of Tarrifs and QuotasOther Nontariff Barriers Customs Valuation Practices Government Procurement Policies Technical Barriers to Trade Health and Safety StandardsFailure to Protect Intellectual Property Rights Export SubsidiesArguments for Protection Invalid Arguments Patriotism Employment Fallacy of Composition Fair Play for Domestic Industry Preservation of the Home Market Valid Arguments Government Revenue Income Redistribution Noneconomic Goals Infant Industry Protection Domestic Distortions Protecting the Environment Strategic Trade PoliciesSummaryExercisesReferences Chapter 8: Commercial Policy: History and PracticeIntroduction History of U.S. Commercial PolicyThe Uruguay Round and the Creation of the WTOThe DOHA RoundThe Conduct of U.S. Commercial Policy Unfair Foreign Practices: Section 301 The Escape Clause: Section 201 Other Measures Comparisons with Policies in Other CountriesSummaryExercisesReferences Chapter 9: Preferential Trade ArrangementsIntroduction Preferential Trade Arrangements: Economic AnalysisNorth American Free Trade AgreementOther U.S. Free Trade Area AgreementsEuropean Union The EU Government The Single Market InitiativeRegionalism Versus MultilateralismSummaryExercisesReferences Chapter 10: International Trade and Economic Growth Introduction Trade and Development Primary-Export-Led Development Policies Import-Substitution Development Policies Outward-Looking Development PoliciesTrade and GrowthTrade and Growth: Some Additional Comments Growth, Prices, and WelfareInternational Flows of Factors Labor Capital Economic AnalysisSummaryExercisesReferences Chapter 11: An Introduction to International FinanceIntroduction The Balance of PaymentsExchange RatesPrices and Exchange RatesInterest Rates and Exchange RatesAdditional Major TopicsSummaryExercisesReferences Chapter 12: The Balance of PaymentsIntroduction Current Account Financing the Current Account: The Financial Account National Saving, Investment, and the Current AccountAdditional Summary MeasuresTransactions ClassificationBalance-of-Payments Equilibrium and AdjustmentSummaryExercisesReferences Chapter 13: The Foreign-Exchange MarketIntroduction Spot RatesArbitrageForward RatesSwapsForeign-Currency OptionsExchange Rate Supply and Demand and Central-Bank InterventionBlack Markets and Parallel MarketsSummaryExercisesReferences Chapter 14: Prices and Exchange Rates: Purchasing Power ParityIntroduction Absolute Purchasing Power ParityRelative Purchasing Power ParityTime, Inflation, and PPPDeviations from PPP"Overvalued" and "Undervalued" CurrenciesReal Exchange RatesSummaryExercisesReferences Chapter 15: Exchange Rates, Interest Rates, and Interest ParityIntroduction Interest ParityInterest Rates and InflationExchange Rates, Interest Rates, and InflationExpected Exchange Rates and the Term Structure of Interest RatesSummaryExercisesReferences Chapter 16: Foreign-Exchange Risk, Forecasting, and International InvestmentIntroduction Types of Foreign-Exchange RiskForeign-Exchange risk PremiumMarket EfficiencyForeign-Exchange ForecastingInternational Investment and Portfolio DiversificationDirect Foreign InvestmentCapital FlightCapital Inflow IssuesInternational Lending and CrisesSummaryExercisesReferences Chapter 17: Basic Theories of the Balance of PaymentsIntroduction The Elasticities Approach to the Balance of TradeElasticities and J Curves The Currency-Contract Period\ The Pass-Through Period Section IV - The U.S. balance of trade decreases Section III - The U.S. balance of trade is constant Section II - Balance of trade may increase or decrease Section I - Balance of trade increasesThe Evidence from DevaluationsThe Absorption ApproachThe Monetary Approach to the Balance of PaymentsSummaryExercisesReferences Chapter 18: Exchange Rate TheoriesIntroduction The Asset ApproachThe Monetary ApproachThe Portfolio-Balance ApproachSterilizationCurrency SubstitutionThe Role of NewsForeign-Exchange Market MicrostructureExchange Rates and the Trade BalanceOvershooting Exchange RatesSummaryExercisesReferences Chapter 19: Alternative International Monetary StandardsIntroduction The Gold Standard: 1880-1914The Interwar Period: 1918-1939The Gold Exchange Standard: 1944-1970The Transition Years: 1971-1973Floating Exchange Rates: Since 1973The Choice of an Exchange Rate SystemOptimum Currency AreasThe European Monetary System and the EuroTarget ZonesCurrency BoardsInternational Reserve CurrenciesMultiple Exchange RatesSummaryExercisesReferences Chapter 20: International Banking, Debt, and RiskIntroduction The Origins of Offshore BankingInternational Banking FacilitiesOffshore Banking PracticesInternational DebtIMF ConditionalityThe Role of CorruptionCountry-Risk AnalysisSummaryExercisesReferences Chapter 21: Open-Economy Macroeconomic Policy and AdjustmentIntroductionInternal and External Macroeconomic EquilibriumThe IS CurveThe LM CurveThe BP CurveEquilibriumMonetary Policy under Fixed Exchange RatesFiscal Policy under Fixed Exchange RatesMonetary Policy under Floating Exchange RatesFiscal Policy under Floating Exchange RatesThe New Open-Economy MacroeconomicsInternational Policy CoordinationGlobal Financial Crisis and Macroeconomic EffectsThe Open-Economy MultiplierSummaryExercisesReferences

An accessible, comprehensive and relevant guide to studying international economics. An Introduction to International Trade; Tools of Analysis for...
International Trade Models; The Classical Model of International Trade; The Heckscher-Ohlin Model; Tests of Trade Models: The Leontief Paradox and Its Aftermath; Tariffs; Nontariff Barriers and Arguments for Protection; Commercial Policy: History and Practice; Preferential Trade Arrangements; International Trade and Economic Growth; An Introduction to International Finance; The Balance of Payments; The Foreign-Exchange Market; Prices and Exchange Rates: Purchasing Power Parity; Exchange Rates, Interest Rates, and Interest Parity; Foreign-Exchange Risk, Forecasting, and International Investment; Basic Theories of the Balance of Payments; Exchange Rate Theories; Alternative International Monetary Standards; International Banking, Debt, and Risk; Open-Economy Macroeconomic Policy and Adjustment For readers interested in understanding international economics.