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International Finance: Theory and Policy, 11th edition

  • Paul R. Krugman
  • Maurice Obstfeld
  • Marc Melitz

Published by Pearson (April 1st 2017) - Copyright © 2018

11th edition

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For courses in International Finance.


A balanced approach to theory and policy applications

International Finance: Theory and Policy provides engaging, balanced coverage of the key concepts and practical applications of the discipline. An intuitive introduction to international finance theory is followed by detailed coverage of policy applications. With this new 11th Edition, the author team of Nobel Prize-winning economist Paul Krugman, renowned researcher Maurice Obstfeld, and Marc Melitz of Harvard University continues to set the standard for International Finance texts.


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If you would like to purchase both the physical text and MyLab Economics, search for:


0134641760 / 9780134641768 International Finance: Theory and Policy Plus MyLab Economics with Pearson eText -- Access Card Package, 11/e


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  • 013451954X / 9780134519548 International Finance: Theory and Policy
  • 0134542525 / 9780134542522 MyLab Economics with Pearson eText -- Access Card -- for International Finance: Theory and Policy


Table of contents

1. Introduction


Part 1: Exchange Rates and Open-Economy Macroeconomics  

2. National Income Accounting and the Balance of Payments

3. Exchange Rates and the Foreign Exchange Market: An Asset Approach  

4. Money, Interest Rates, and Exchange Rates

5. Price Levels and the Exchange Rate in the Long Run

6. Output and the Exchange Rate in the Short Run

7. Fixed Exchange Rates and Foreign Exchange Intervention


Part 2: International Macroeconomic Policy

8. International Monetary Systems: An Historical Overview

9. Financial Globalization: Opportunity and Crisis

10. Optimum Currency Areas and the Euro

11. Developing Countries: Growth, Crisis, and Reform


Mathematical Postscripts

Postscript to Chapter 9: Risk Aversion and International Portfolio Diversification



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