Table of Contents

1. International Economics Is Different Part I: The Theory of International Trade 2. The Basic Theory Using Demand and Supply 3. Why Everybody Trades: Comparative Advantage 4. Trade: Factor Availability and Factor Proportions are Key 5. Who Gains and Who Loses from Trade? 6. Alternative Theories of Trade 7. Growth and Trade Part II: Trade Policy 8. Analysis of a Tariff 9. Nontariff Barriers to Imports 10. Arguments For and Against Protection 11. Pushing Exports 12. Trade Blocs and Trade Blocks 13. Trade and the Environment 14. Trade Policies for Developing Countries 15. Multinationals and Migration: International Factor Movements Part III: Understanding Foreign Exchange 16: Payments Among Nations 17. The Foreign Exchange Market 18. Forward Exchange and International Financial Investment 19. What Determines Exchange Rates 20. Government Policies Toward the Foreign Exchange Market 21. International Lending and Financial Crises Part IV: Macro Policies for Open Economies 22. How Does the Open Macroeconomy Work? 23. Internal and External Balance with Fixed Exchange Rates 24. Floating Exchange Rates and Internal Balance 25. National and Global Choices: Floating Rates and the Alternatives Appendix A: The Web and the Library: International Numbers and Other Information Appendix B: Deriving Production-Possibility Curves Appendix C: Offer Curves Appendix D: The Nationally Optimal Tariff Appendix E: Many Parities at Once Appendix F: Aggregate Demand and Aggregate Supply in the Open Economy Appendix G: Devaluation and the Current Account

About the Author

Thomas Pugel (Upper Montclair, NJ) is professor of economics at New York University's Stern School of Business.