International Economics: Global Markets and Competition integrates the microeconomics of international trade with open economy macroeconomics and finance. The theory is comprehensive but presented with intuitive diagrams. The book emphasizes the gains from international competition and the limits of trade policy.Economics began during the Industrial Revolution with a debate over import tariffs. To this day, domestic industries lobby for tariff protection against foreign competition, paying lawmakers for tariffs on imports. Only under special conditions do tariffs lead to economic gains. Domestic importers of materials and industrial products favor free trade, as do export industries since tariffs encourage other countries to retaliate with tariffs of their own.Trade theory includes market analysis and general equilibrium models of the economy. This text integrates the full range of trade theory with exchange rates, balance of payments, international finance, and open economy growth and macroeconomics.The presentation focuses on diagrams and avoids equations and algebra. The theory is presented with numerical examples. The text does not assume intermediate economics, instead developing the theory with thorough explanations. Questions in each section build confidence in applying the theory. Boxed examples illustrate the importance of the theory.Students like the concise and straightforward style. Instructors notice the difference on exams.

"This text integrates the microeconomics of trade with concepts from open economy macroeconomics. The emphasis is on the powerful forces of international competition and the limitations of government policy. Economics began with a political debate over tariffs and the politics continue. Domestic industries lobby for protection against foreign competitors and for export subsidies. Government policy makers favor their pet industries in return for lobby money and votes. Meanwhile, other industries lobby for free trade. Governments worldwide tentatively negotiate free trade agreements while international financial markets determine the effectiveness of their fiscal and monetary policies. Wages, capital returns, and national income rise and fall with international commerce. The text covers these issues of international trade and finance. The trade theory is based on partial equilibrium market analysis, constant cost and neoclassical general equilibrium, the factor proportions model, and various theories of industrial organization."--Book cover.

This text integrates trade theory and open economy macroeconomics with straightforward diagrams and numerous examples. The emphasis is on the gains from competitive trade and the limits of policy. Economics began with the political debate over import tariffs in England. Tariffs lead to net economic losses, except in a few circumstances, and would then lead to retaliation. Consumers and firms importing intermediate inputs lose due to tariffs, as do export industries when other countries retaliate with tariffs of their own. Import competing industries and the government gain from tariffs.The present approach integrates theories of market behavior and general equilibrium on the microeconomic side. Exchange rate theory bridges from trade theory into balance of payments theory. In the final chapter on open economy macroeconomics, the limits of monetary and fiscal policies due to the competitive foreign exchange market is the focus.Theoretical diagrams present the theory without assuming intermediate theory. Numerous problems for each section build confidence in applying the theory. Boxed examples illustrate the importance of theory. Each chapter includes a concise mathematical appendix that should appeal to students with interest and to instructors preparing for class.

This textbook describes and predicts production, trade and investment across countries. Using graphs and numerical examples, it describes the foundations of international trade and investment, including constant cost, neoclassical, and modern theories of production, industry and trade.

This book integrates the microeconomics of trade with international finance and open economy macroeconomics. The emphasis throughout is on international competition and the limits of trade policy.Economics began with a debate over tariffs. Domestic industries lobby for protection against foreign competitors or export subsidies. Government policy makers dole favors in return for cash and votes. Governments negotiate free trade agreements but disregard them when possible with tariffs, export subsidies, and other policies to influence foreign trade and investment. The forces of international competition, however, eventually overwhelm government policy.This text presents the critical issues of international trade and finance. Trade theory includes partial equilibrium market analysis, neoclassical trade models, constant cost production, factor proportions production, and models of industrial organization. The text integrates concepts from international finance and the basic models of open economy macroeconomics.The presentation uses graphs with numerical examples making the theory easier for students, especially when combined with more general classroom presentation. The text does not assume previous courses in intermediate economics or calculus but develops the theory with simple tools. Numerous questions give students confidence to use the theoretical models and concepts.Over 250 boxed examples illustrate the theory, many with visually descriptive charts and plots. The text is concise in its presentation style. Students enjoy its clear straightforward style and instructors notice the difference on exams.

Although postcolonialism has emerged as one of the most significant theoretical movements in literary and cultural studies, it has paid scant attention to the importance of trade and trade relations to debates about culture. Focusing on the past two centuries, this volume investigates the links among trade, colonialism, and forms of representation, posing the question, 'What is the historical or modern relationship between economic inequality and imperial patterns of representation and reading?' Rather than dealing exclusively with a particular industry or type of industry, the contributors take up the issue of how various economies have been represented in Aboriginal art; in literature by North American, Caribbean, Portuguese, South African, First Nations, Australian, British, and Aboriginal authors; and in a diverse range of writings that includes travel diaries, missionary texts, the findings of the Leprosy Investigation Commission, early medical accounts and media representations of HIV/AIDS. Examining trade in commodities as various as illicit drugs, liquor, bananas, tourism, adventure fiction, and modern Aboriginal art, as well as cultural exchanges in politics, medicine, and literature, the essays reflect the widespread origins of the contributors themselves, who are based throughout the English-speaking world. Taken as a whole, this book contests the commonplace view promoted by some modern economists-that trade in and of itself has a leveling effect, equalising cultures, places, and peoples-demonstrating instead the ways in which commerce has created and exacerbated differences in power.

The clearest and most up-to-date account of the achievements—and setbacks—of the European Union since 1945. Europe has been transformed since the Second World War. No longer a checkerboard of entirely sovereign states, the continent has become the largest single-market area in the world, with most of its members ceding certain economic and political powers to the central government of the European Union. This shift is the product of world-historical change, but the process is not well understood. The changes came in fits and starts. There was no single blueprint for reform; rather, the EU is the result of endless political turmoil and dazzling bureaucratic gymnastics. As Brexit demonstrates, there are occasional steps backward, too. Cutting through the complexity, Richard Pomfret presents a uniquely clear and comprehensive analysis of an incredible achievement in economic cooperation. The Economic Integration of Europe follows all the major steps in the creation of the single market since the postwar establishment of the European Coal and Steel Community. Pomfret identifies four stages of development: the creation of a customs union, the deepening of economic union with the Single Market, the years of monetary union and eastward expansion, and, finally, problems of consolidation. Throughout, he details the economic benefits, costs, and controversies associated with each step in the evolution of the EU. What lies ahead? Pomfret concludes that, for all its problems, Europe has grown more prosperous from integration and is likely to increase its power on the global stage.

A key factor in the emerging relationship between law and economic globalization is how global competition now shapes economies and societies. Competition law is provided by those players that have sufficient 'power' to apply their laws transnationally. This book examines this important and controversial aspect of globalization.

Global Business Today has been developed specifically to meet the needs of international students of business. Written in a refreshing, informative, and accessible style, it has become the most widely used text in the International Business market with its comprehensive and up-to-date contents; focus on managerial implications and application of international business concepts; and incorporation of ancillary resources that enliven the text and make it easier to teach. In addition to boxed material which provides insightful illustrations in every chapter, interesting anecdotes have been carefully weaved into the narrative of the text to engage the reader. Enhancements to the Global Edition include: New Country Focus boxes that provide background on the political, economic, social, or cultural aspects of countries grappling with an international business issue to help raise students’ awareness of how national and geographic differences affect the conduct of international business, such as Corruption in the Philippines and the Export Processing Zone Authority of Pakistan. New Management Focus boxes that provide lively illustrations of the relevance of chapter material for the practice of international business, including Patenting Basmati Rice and Expatriate Managers. New Perspective boxes that provide additional context for chapter topics, such as Market Economy in China, Australian SMEs Embrace the Chinese Currency, and Global Variations in Ownership Structure.