Clifford F. Thies is Eldon R. Lindsey Chair of Free Enterprise and professor of economics and finance at Shenandoah University.

This book belongs in the vacation reading of many of today’s senators, representatives, administration officials, and their respective staffs. It is an efficient compilation of international economic orthodoxy—a set of powerful ideas that set the benchmarks of modern, market-driven international economics against which alternative ideas and policies must be calibrated. The setup is conventional, starting with trade theory and trade policy, then international factor transfers, leading to international monetary economics, exchange rate determination, international price and income adjustments, and ending with chapters on global financial crises and the role of developing countries. The text is spare and readable: there is little in the way of ifs, ands, or buts to cloud the argument. Presumably this can come after the reader masters the basics. Today’s challenges to a rule-based international economic and financial order desperately require these basics, and this book delivers them. Highly recommended for collections intended for undergraduate students of economics and politics.Summing Up: Recommended. Upper-division undergraduates through faculty.

• Chapter 1: GenesisChapter 2: Rise of the Market EconomyChapter 3: Trade TheoryChapter 4: Trade PolicyChapter 5: Trade AgreementsChapter 6: International Capital FlowsChapter 7: International Labor FlowChapter 8: Exchange RatesChapter 9: Determination of Exchange RatesChapter 10: Managing Exchange Rate RiskChapter 11: International Financial CrisesChapter 12: Development Economics

Clifford F. Thies is Eldon R. Lindsey Chair of Free Enterprise and professor of economics and finance at Shenandoah University.

This book belongs in the vacation reading of many of today’s senators, representatives, administration officials, and their respective staffs. It is an efficient compilation of international economic orthodoxy—a set of powerful ideas that set the benchmarks of modern, market-driven international economics against which alternative ideas and policies must be calibrated. The setup is conventional, starting with trade theory and trade policy, then international factor transfers, leading to international monetary economics, exchange rate determination, international price and income adjustments, and ending with chapters on global financial crises and the role of developing countries. The text is spare and readable: there is little in the way of ifs, ands, or buts to cloud the argument. Presumably this can come after the reader masters the basics. Today’s challenges to a rule-based international economic and financial order desperately require these basics, and this book delivers them. Highly recommended for collections intended for undergraduate students of economics and politics.Summing Up: Recommended. Upper-division undergraduates through faculty.

• Chapter 1: GenesisChapter 2: Rise of the Market EconomyChapter 3: Trade TheoryChapter 4: Trade PolicyChapter 5: Trade AgreementsChapter 6: International Capital FlowsChapter 7: International Labor FlowChapter 8: Exchange RatesChapter 9: Determination of Exchange RatesChapter 10: Managing Exchange Rate RiskChapter 11: International Financial CrisesChapter 12: Development Economics

Clifford F. Thies is Eldon R. Lindsey Chair of Free Enterprise and professor of economics and finance at Shenandoah University.

This book belongs in the vacation reading of many of today’s senators, representatives, administration officials, and their respective staffs. It is an efficient compilation of international economic orthodoxy—a set of powerful ideas that set the benchmarks of modern, market-driven international economics against which alternative ideas and policies must be calibrated. The setup is conventional, starting with trade theory and trade policy, then international factor transfers, leading to international monetary economics, exchange rate determination, international price and income adjustments, and ending with chapters on global financial crises and the role of developing countries. The text is spare and readable: there is little in the way of ifs, ands, or buts to cloud the argument. Presumably this can come after the reader masters the basics. Today’s challenges to a rule-based international economic and financial order desperately require these basics, and this book delivers them. Highly recommended for collections intended for undergraduate students of economics and politics.Summing Up: Recommended. Upper-division undergraduates through faculty.

• Chapter 1: GenesisChapter 2: Rise of the Market EconomyChapter 3: Trade TheoryChapter 4: Trade PolicyChapter 5: Trade AgreementsChapter 6: International Capital FlowsChapter 7: International Labor FlowChapter 8: Exchange RatesChapter 9: Determination of Exchange RatesChapter 10: Managing Exchange Rate RiskChapter 11: International Financial CrisesChapter 12: Development Economics