Krugman and Obstfeld provide a unified model of open-economy macroeconomics based upon an asset-market approach to exchange rate determination with a central role for expectations. This eighth edition integrates research, data and policy in hot topics such as outsourcing, geographic geography and financial derivatives.

Rev. ed. of: International economics: theory and policy / Paul Krugman, Maurice Obstfeld. 8th ed.

For courses in International Trade A balanced approach to theory and policy applications International Trade: Theory and Policy provides engaging, balanced coverage of the key concepts and practical applications of the discipline. An intuitive introduction to international trade theory is followed by detailed coverage of policy applications. With this new tenth 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 Trade courses. This program provides a better teaching and learning experience–for you and your students. It will help you to: • Personalize learning with MyEconLab: This online homework, tutorial, and assessment program fosters learning and provides tools that help instructors to keep students on track. • Reveal theory and applications of international trade: Balanced coverage of theory and applications aids student retention and highlights the relevance of course material. • Give students learning tools to master course material: Numerous in-text learning resources engage students and encourage further exploration of course topics. • Provide the most updated coverage: Thoroughly updated content ensures that students are up to date on key issues. Note: If you are purchasing the standalone text or electronic version, MyEconLab does not come automatically packaged with the text. To purchase MyEconLab please visit www.myeconlab.com or you can purchase a package of the physical text + MyEconLab by searching for 0133827046 / 9780133827040. MyEconLab is not a self-paced technology and should only be purchased when required by an instructor.

This new thoroughly revised edition of the book has been completely recast to cater to the requirement of B.A. (Hon.), M.A. and M.Com. students offering International Economics paper for their examinations as also for those preparing for the various competitive examinations. The book covers the entire course prescribed by the various Indian Universities on the subject and presents a lucid discussion on the pure and monetary theory of International trade incorporating the latest developments in the field. Contents: Introduction: Nature and Importance of International Economics / Salient Features of International Trade / Advantages of International Trade / pure theory of International Trade: Theory of Comparative Costs /Development of Theory of Comparative Costs / Heckscher-Ohlin Theory / Other Reasons for Trade / International Trade and Factor Prices / Supply and Demand Equilibrium in International Trade / Terms of Trade and Gains from Trade / Foreign Exchange Rate and The Balance of Payments: Foreign Exchange Rate / Balance of Payments / Devaluation / Foreign Trade Multiplier / Exchange Control / Free Trade and Protection / Protection and Underdeveloped Countries / Trade Policy: Tariffs / Quotas, Dumping and Cartels / Regional Economic Co-operation / Theory of Customs Unions / Commercial Treaties / World Trade Organisation / State Trading / United Nations Conference on Trade and Development (UNCTAD) / Foreign Aid / International Debt / International Monetary Institutions: International Monetary Fund (IMF) / International Liquidity / Eurocurrency (Eurodollar) Market / International Bank for Reconstruction and Development (IBRD) / International Development Association (IDA) / Asian Development Bank (ADB) / Author Index / Subject Index

Trade policy has long been a contentious issue within economic theory, and the contemporary significance of the US trade deficit makes an understanding of international economics more vital than ever. In a non-mathematical and accessible style the author presents his analysis of these issues.