Elements of International Economics

From the reviews: "This book details how an open economy functions. ... Particular attention is paid to the problems of international economic integration at both the commercial and monetary level. This highly accessible textbook introduces students to the subject as well as equips them for further study. Advanced undergraduates and graduates will learn to read and interpret the balance of payments of a country ... ." (RKW-Bucherdienst Ratinalisierungskuratorium und Innovationszentrum der Deutschen Wirtschaft, 2004)

• 1 Introduction.- I The Basics.- 2 The Foreign Exchange Market.- 3 Exchange-Rate Regimes and the International Monetary System.- 4 International Interest-Rate Parity Conditions.- 5 The Balance of Payments.- II International Finance and Open-Economy Macroeconomics.- 6 The Basic Models: Elasticities, Multiplier, Mundell-Fleming.- 7 The Monetary and Portfolio Approaches.- 8 Capital Movements, Speculation, and Currency Crises.- 9 Exchange-Rate Determination.- 10 The Intertemporal Approach to the Balance of Payments.- 11 International Monetary Integration and European Monetary Union.- 12 Problems of the International Monetary System.- III International Trade Theory and Policy.- 13 The Orthodox Theory: Comparative Cost, Factor Endowments, Demand.- 14 Tariffs, and Non-Tariff Barriers.- 15 Free Trade vs Protection, and Preferential Trade Cooperation.- 16 The new Protectionism.- 17 The new Theories of International Trade.- 18 Growth, Trade, Globalization.- List of Figures.- List of Tables.- List of Boxes.