International Eco (5th Ed)
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Book Overview This text integrates trade theory and open economy macroeconomics with straightforward diagrams and numerous examples. The emphasis is on...
This text integrates trade theory and open economy macroeconomics with straightforward diagrams and numerous examples. The emphasis is on the gains from competitive trade and the limits of policy. Economics began with the political debate over import tariffs in England. Tariffs lead to net economic losses, except in a few circumstances, and would then lead to retaliation. Consumers and firms importing intermediate inputs lose due to tariffs, as do export industries when other countries retaliate with tariffs of their own. Import competing industries and the government gain from tariffs.
The present approach integrates theories of market behavior and general equilibrium on the microeconomic side. Exchange rate theory bridges from trade theory into balance of payments theory. In the final chapter on open economy macroeconomics, the limits of monetary and fiscal policies due to the competitive foreign exchange market is the focus.
Theoretical diagrams present the theory without assuming intermediate theory. Numerous problems for each section build confidence in applying the theory. Boxed examples illustrate the importance of theory. Each chapter includes a concise mathematical appendix that should appeal to students with interest and to instructors preparing for class.
Book Details Format: Paperback | Pages: 350 | Language: English | Publisher: WORLD SCIENTIFIC PUB CO INC | ISBN: 9811280258
FormatPaperback
Pages350
LanguageEnglish
ISBN9811280258
EAN9789811280252
PublisherWORLD SCIENTIFIC PUB CO INC
Publication Date1970-01-01
Edition5
AccessoriesNo Accessory
ConditionNew
Product TypeQUALITY PAPERBACK BOOKS
Weight1.41 Pounds
Length10.0 Inches
Width7.0 Inches
Height0.77 Inches
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