Ideal for a one-semester course in international economics, this book is accessible to those within and outside of economics programs.

The second edition of Introduction to International Economics is a non-technical introduction to international economics that builds on the strengths of the first edition. It analyses in a practical way how the internationalization of economic activities influences companies, investors and consumers, as well as foreign and domestic markets. While the book is policy-oriented, the adequate historical and theoretical context is provided. All concepts are discussed in a non-mathematical way and graphic analysis is used to clarify explanations, which makes it ideal for business and MBA students. International economics is attracting ever more attention due to the recent worldwide economic crisis, and this book gives a truly global perspective by discussing real-world examples and case studies from different sectors, including from the Americas, Europe and Asia. New features in this edition include the following: - Updated empirical material - The chapter on balance of payments, the foreign exchange market and their relationship has been completely rewritten - Expanded material on developments in the European monetary integration process - More focus on issues in emerging economies, such as the practice and lessons of currency boards, dollarization, and the occurrence of currency crises

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.

Conclusion: 13.

Complementing trade theories with relevant trade empirics, this book covers three aspects of the study of International Economics: pure theory of trade, trade policy, and theory of Balance of Payments (BoP) and exchange rate. In the first part, it discusses the basic principles of international trade between dissimilar countries as well as between similar countries, and implications thereof in terms of welfare, income distribution, and growth. The approach taken here is distinctly different from that in most of the existing textbooks on international economics. Instead of model-specific discussions of the basic issues, it discusses the basic principles governing trade, gains from trade, and characteristics of international equilibrium in the context of a general trading environment of open economies. Subsequently, specific models of trade are introduced as alternative theoretical explanations for the basic principles of trade. In the second part, a wide range of policy issues are analysed including unilateral trade restrictions and promotions; reciprocatory trade policy choices through regionalism; product standards that regulate trade between developed and developing countries; and implications of capital inflow, FDI, fragmentation, and global value chains. In the third part, the book discusses different currency and exchange rate regimes and their implications for a country's balance of payments and foreign exchange reserves. Drawing upon the basic theories, it studies expenditure-reducing and expenditure-switching policies to correct for BoP imbalances under a pegged exchange rate regime. Finally, some reflections on the choice of exchange rate regime and optimum currency area wind up discussions of monetary issues in international economics.

First published in 1991. Routledge is an imprint of Taylor & Francis, an informa company.

Focusing on capital controls, this study provides rigorous legal analysis to establish whether the mandate of the International Monetary Fund (IMF) extends to the capital account; that is, whether the IMF has the authority to control and/or regulate the use of capital controls by its member states. The book then analyses whether a country's use of capital controls is consistent with the obligations and commitments undertaken in various multilateral and bilateral trade and investment agreements. Finally, it analyses the tension within international economic law, as the IMF now encourages the use of capital controls under certain circumstances, while most trade/investment agreements prohibit or limit their use. Proposing a way forward to alleviate the tension and construct a more harmonious relationship between the norms and standards of finance, trade and investment, this study will be essential reading for policymakers.

Written from a European perspective, this text offers coverage of all the key elements of international economics: trade, money and finance. A firm emphasis is placed on ensuring that students understand how the theory relates to real world examples, providing undergraduate students witheverything they need to understand this course. Empirical and Political detail is given close attention. International Economics contains 32 chapters split into 2 parts with part one covering International Trade and Part two covering International Money. A comprehensive online study guide for students will support the text with further This text is supported by an Online Resource Centre that includes a comprehensive study guide to assist students in reinforcing what they have learnt and preparing for exams.

In an era when trade and currency wars threaten to end a long-standing period of growing trade and capital flows, the economics of international trade, investment and finance have become more important than ever. This three-volume Encyclopedia provides a comprehensive and up-to-date overview of the theory and evidence on the causes and consequences of global trade, and the theory and evidence on the economics of international trade, financial and monetary transactions.It provides, first of all, a comprehensive set of entries explaining the key theoretical concepts in international economics as well as the latest empirical and simulation techniques used in the academic literature. In addition, various entries present the history behind — and the controversies surrounding — the core current global trade and monetary institutions, from the World Trade Organization to the European Monetary Union.The three volumes also provide a serious discussion of today's central policy debates, including the impact of globalization on employment, wages and income distribution, the imposition of controls on international financial flows, the effects of tariffs and protectionist policies, fixed versus flexible exchange rate regimes, and the role of the multinational enterprise on global growth, technical change and income distribution, among many others.

Modern economies become more and more open and the external sector of an economy becomes more and more important. This textbook aims at clarify ing how an open economy functions, in particular at explaining the determi nants of international fiows of commodities and financial assets. It also aims at examining the effects of these fiows on the domestic and international econ omy and the possible policy acti.ons at the national and international level. Particular attention will be paid to the problems of international economic at both the commercial and monetary level. integration Students will be able to read and interpret the balance of payments of a country, evaluating the various types of balance, to explain the behaviour of commercial fiows in the light of the theories studied, to analyze fiows of financial assets according to interest-rate differentials and other elements, to study the forces that determine exchange rates and cause currency crises, to understand the reasons behind international economic integration such as the European Union, to evaluate the effects of national and international policies.