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International Trade: Theory and Policy provides engaging, balanced coverage of the key concepts and practical applications of the discipline. An intuitive introduction to trade theory is followed by detailed coverage of policy applications. With this new 11th Edition, Global 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 Economics courses. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

International Trade: Theory and Policy, Global Edition

• Title Page


• Copyright Page


• Brief Contents


• Contents


• Preface


• 1 Introduction


• What Is International Economics About?


• The Gains from Trade


• The Pattern of Trade


• How Much Trade?


• Balance of Payments


• Exchange Rate Determination


• International Policy Coordination


• The International Capital Market


• International Economics: Trade and Money


• Part 1 International Trade Theory


• 2 World Trade: An Overview


• Who Trades with Whom?


• Size Matters: The Gravity Model


• Using the Gravity Model: Looking for Anomalies


• Impediments to Trade: Distance, Barriers, and Borders


• The Changing Pattern of World Trade


• Has the World Gotten Smaller?


• What Do We Trade?


• Service Offshoring


• Do Old Rules Still Apply?


• Summary


• 3 Labor Productivity and Comparative Advantage: The Ricardian Model


• The Concept of Comparative Advantage


• A One-Factor Economy


• Relative Prices and Supply


• Trade in a One-Factor World


• Determining the Relative Price after Trade


• Box: Comparative Advantage in Practice: The Case of Usain Bolt


• The Gains from Trade


• A Note on Relative Wages


• Box: Economic Isolation and Autarky over Time and Space


• Misconceptions about Comparative Advantage


• Productivity and Competitiveness


• Box: Do Wages Reflect Productivity?


• The Pauper Labor Argument


• Exploitation


• Comparative Advantage with Many Goods


• Setting Up the Model


• Relative Wages and Specialization


• Determining the Relative Wage in the Multigood Model


• Adding Transport Costs and Nontraded Goods