International Economics: Theory and Policy, 6/E
Paul R. Krugman, Princeton University
Maurice Obstfeld, University of California, Berkeley

ISBN-10: 0201770377
ISBN-13: 9780201770377

Publisher: Addison-Wesley
Copyright: 2003
Format: Cloth; 784 pp
Status: Out of Print

Suggested retail price: $134.40
This item is out of print and is no longer available for purchase.

International Economics, the best-selling textbook in the field, is written by two of the world's preeminent economists. Both the real trade portion of the book and the monetary portion are divided into a core of chapters focused on theory, followed by chapters applying the theory to major policy questions, past and current. The Sixth Edition has been throughly revised to reflect the changes of today's global economic landscape, including the unprecedented expansion of globalization, the increasingly crucial nature of international economic relations, the gains from trade, and recent anti-globalization controversies such as the continuing debate over the optimal level of trade.

Consistent with previous editions, the text presents an integrated treatment of the Ricardian model, specific factors, factor endowments, and imperfect competition models of trade, along with in-depth analysis of empirical evidence. It covers the effects and causes of trade policy, including strategic trade policy and the income-distribution effects of trade. The book also provides a unified model of open-economy macroeconomics, based on an asset-market approach to exchange rate determination with a central role for expectations.

  • Core theory chapters, followed by chapters applying theory to major policy questions.

  • Chapter 9, “The Political Economy of Trade Policy,” looks at the influence of special interest payments on political decisions over trade policy and brings the story of the World Trade Organization up-to-date.
  • Chapter 11, “Controversies in Trade Policy,” examines the theory of strategic trade policy and its explanation of why countries might gain from promoting particular industries, and explores the contemporary roiling debate over globalization.
  • Chapter 19, “Macroeconomic Policy and Coordination Under Floating Exchange Rates,” features an intuitive discussion of the major results on international policy repercussions.
  • Chapter 20, “Optimum Currency Areas and the European Experience,” presents fresh perspectives on Europe's single-currency experiment to date.
  • Chapter 22, “Developing Countries: Growth, Crisis, and Reform,” recounts the dramatic collapse of the Argentine currency in 2002.
  • New and updated boxes and case studies, and an expanded, animated PowerPoint program featuring the text's tables and figures.
  • New enhanced Web site that updates periodically to showcase important global macroeconomic events and developments; also features an all-new Test Bank for instructors and all-new self-check quizzes for students.



 1. Introduction.

I. INTERNATIONAL TRADE THEORY.

 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. Economies of Scale, Imperfect Competition, and International Trade.

 7. International Factor Movements.

II. INTERNATIONAL TRADE POLICY.

 8. The Instruments of Trade Policy.

 9. The Political Economy of Trade Policy.

10. Trade Policy in Developing Countries.

11. Controversies in Trade Policy.

III. EXCHANGE RATES AND OPEN-ECONOMY MACROECONOMICS.

12. National Income Accounting and the Balance of Payments.

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

14. Money, Interest Rates, and Exchange Rates.

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

16. Output and the Exchange Rate in the Short Run.

17. Fixed Exchange Rates and Foreign Exchange Intervention.

IV. INTERNATIONAL MACROECONOMIC POLICY.

18. The International Monetary System, 1870-1973.

19. Macroeconomic Policy and Coordination Under Floating Exchange Rates.

20. Optimum Currency Areas and The European Experience.

21. The Global Capital Market: Performance and Policy Problems.

22. Developing Countries: Growth, Crisis, and Reform.

Mathematical Postscipts.

Paul Krugman earned his Ph.D. in economics from MIT, and has since taught at some of United States� most prestigious universities, including Yale, Stanford, MIT, and currently, Princeton University.

Krugman spent a year in the early 1980s working in the White House for the Council of Economic Advisors. He has written and edited several hundred articles and 18 internationally acclaimed books. Notably, he is recognized as a co-founder of the "new trade theory," which has been an important contribution to the fields of economics and finance.

In recognition of his achievements, Krugman was awarded the John Bates Clark medal in 1991.

Maurice Obstfeld specialized in mathematics in Cambridge University and went on to MIT, where he attained his Ph.D. in economics. He has since held faculty positions at Columbia University and the University of Pennsylvania and currently, is the class of 1958 Professor of Economics at the University of California, Berkeley.

Obstfeld has authored numerous articles and highly influential books. In view of his prominence in the fields of economics and finance, he has served as consultant for the World Bank, as participant in the European Commission Study Group on the impact of the Euro on capital markets, and most recently as the honorary advisor for the Institute of Economic and Monetary Studies, Bank of Japan.

View a Sample Chapter PDF:

 

Pearson Higher Education offers special pricing when you choose to package your text with other student resources. If you're interested in creating a cost-saving package for your students, contact your Pearson Higher Education representative for pricing and ordering information.

Pearson Higher Education offers special pricing when you choose to package your text with other student resources. If you're interested in creating a cost-saving package for your students contact your Pearson Higher Education representative.


Copyright ©2008 Pearson Education. All rights reserved. Legal Notice | Privacy Policy | Permissions