International Economics, 15th Edition
I believe the best way to motivate students to learn a subject is to demonstrate how it is used in practice. The first fourteen editions of International Economics reflected this belief and were written to provide a serious presentation of international economic theory with an emphasis on current applications. Adopters of these editions strongly supported the integration of economic theory with current events.
The fifteenth edition has been revised with an eye toward improving this presentation and updating the applications as well as including the latest theoretical developments. Like its predecessors, this edition is intended for use in a one-quarter or one-semester course for students having no more background than principles of economics. This bookâ€™s strengths are its clarity, organization, and applications that demonstrate the usefulness of theory to students. The revised and updated material in this edition emphasizes current applications of economic theory and incorporates recent theoretical and policy developments in international trade and finance.
ORGANIZATIONAL FRAMEWORK: EXPLORING FURTHER SECTIONS
Although instructors generally agree on the basic content of the international economics course, opinions vary widely about what arrangement of material is appropriate. This book is structured to provide considerable organizational flexibility. The topic of international trade relations is presented before international monetary relations, but the order can be reversed by instructors choosing to start with monetary theory. Instructors can begin with Chapters 10â€“17 and conclude with Chapters 2â€“9. Those who do not wish to cover all the material in the book can easily omit all or parts of Chapters 6â€“9, and Chapters 15â€“17 without loss of continuity.
The fifteenth edition streamlines its presentation of theory to provide greater flexibility for instructors. This edition uses online Exploring Further sections to discuss more advanced topics. By locating the Exploring Further sections online rather than in the textbook, as occurred in previous editions, more textbook coverage can be devoted to contemporary applications of theory. The Exploring Further sections consist of the following:
Comparative advantage in money termsâ€”Ch. 2
Indifference curves and tradeâ€”Ch. 2
Offer curves and the equilibrium terms of tradeâ€”Ch. 2
The specific-factors theoryâ€”Ch. 3
Offer curves and tariffsâ€”Ch. 4
Tariff-rate quota welfare effectsâ€”Ch. 5
Export quota welfare effectsâ€”Ch. 5
Welfare effects of strategic trade policyâ€”Ch. 6
Government procurement policy and the European Unionâ€”Ch. 8
Economies of scale and NAFTAâ€”Ch. 8
Techniques of foreign-exchange market speculationâ€”Ch. 11
A primer on foreign-exchange tradingâ€”Ch. 11
Fundamental forecastingâ€“regression analysisâ€”Ch. 12
Income adjustment mechanismâ€”Ch. 13
Exchange-rate pass-throughâ€”Ch. 14
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|May 30, 2020|
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