International Economics: Trade and Finance

Description

Salvatore’s International Economics provides information about fundamental institutions and relationships that affect quality of life and provides a framework for thinking through and understanding the process of decision making. Furthermore, the text is designed as a primary text for an introduction to basic economics or principles of economics and offers a balanced presentation of macroeconomics and microeconomics

Table of Contents

1. Introduction.
2. Part One: International Trade Theory.
   1. The Law of Comparative Advantage.
   2. The Standard Theory of International Trade.
   3. Demand and Supply, Offer Curves and the Terms of Trade.
   4. Factor Endowments and the Heckscher-Ohlin Theory.
   5. Economies of Scale, Imperfect Competition and International Trade.
   6. Economic Growth and International Trade.
3. Part Two: International Trade Policy.
   1. Trade Restrictions: Tariffs.
   2. Nontariff Trade Barriers and the New Protectionism.
   3. Economic Integration: Customs Unions and Free Trade Areas.
   4. International Trade and Economic Development.
   5. International Resource Movements and Multinational Corporations.
4. Part Three: Balance of Payments and Exchange Rates.
   1. Balance of Payments.
   2. Foreign Exchange Markets and Exchange Rates.
   3. Exchange Rate Determination.
5. Part Four: Open-Economy Macroeconomics and the International Monetary System.
   1. The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates.
   2. The Income Adjustment Mechanism and Synthesis of Automatic Adjustments.
   3. Open-Economy Macroeconomics: Adjustment Policies.
   4. Prices and Output in an Open Economy: Aggregate Demand & Aggregate Supply.
   5. Flexible versus Fixed Exchange Rates, the European Monetary System and Macroeconomic Policy Coordination.
   6. The International Monetary System: Past, Present and Future.

Author Biography

Dominick Salvatore is the Distinguished Professor of Economics and the Director of the Ph.D. Program in Economics at Fordham University in New York City. He is the Honorary Professor at the Shanghai Finance University and Hunan University. He is a Consultant to the United Nations