International Economics: Theory and Policy, Global Edition, 12th edition

Published by Pearson (August 2, 2024) © 2024

  • Paul R. Krugman The Graduate Center, City University of New York , Princeton University , University of California, Berkeley
  • Maurice Obstfeld University of California, Berkeley
  • Marc Melitz Harvard University

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Instant access

In this eTextbook — More ways to learn

  • More flexible. Start learning right away, on any device.
  • More supportive. Get AI explanations and practice questions (select titles).
  • More interactive. Bring learning to life with audio, videos, and diagrams.
  • More memorable. Make concepts stick with highlights, search, notes, and flashcards.
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Title overview

Learn more about global economic theory and policy applications with this balanced, engaging text.

International Economics: Theory and Policy, Global Edition, 12th Edition provides an engaging coverage of the key concepts of international theory and policy, from theory to practice.

The latest thoroughly revised edition highlights important economic developments on a theoretical and practical level, with many updates focusing on the recent COVID-19 pandemic experience and its implications on the global economy.

An array of useful features and examples in the text will equip you with the intellectual tools necessary to understand the developments and implications in the changing global economy.

Table of contents

  1. Introduction

PART ONE: INTERNATIONAL TRADE THEORY

  1. World Trade: An Overview
  2. Labor Productivity and Comparative Advantage: The Ricardian Model
  3. Specific Factors and Income Distribution
  4. Resources and Trade: The Heckscher-Ohlin Model
  5. The Standard Trade Model
  6. External Economies of Scale and the International Location of Production
  7. Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises

PART TWO: INTERNATIONAL TRADE POLICY

  1. The Instruments of Trade Policy
  2. The Political Economy of Trade Policy
  3. Trade Policy in Developing Countries
  4. Controversies in Trade Policy

PART THREE: EXCHANGE RATES AND OPEN-ECONOMY MACROECONOMICS

  1. National Income Accounting and the Balance of Payments
  2. Exchange Rates and the Foreign Exchange Market: An Asset Approach
  3. Money, Interest Rates, and Exchange Rates
  4. Price Levels and the Exchange Rate in the Long Run
  5. Output and the Exchange Rate in the Short Run
  6. Fixed Exchange Rates and Foreign Exchange Intervention

PART FOUR: INTERNATIONAL MACROECONOMIC POLICY

  1. International Monetary Systems: A Historical Overview
  2. Financial Globalization: Opportunity and Crisis
  3. Optimum Currency Areas and the Euro
  4. Developing Countries: Growth, Crisis, and Reform

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