International Economics: Trade and Finance, 11ed, ISV
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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.
Part One: International Trade Theory.
• The Law of Comparative Advantage.
• The Standard Theory of International Trade.
• Demand and Supply, Offer Curves and the Terms of Trade.
• Factor Endowments and the Heckscher-Ohlin Theory.
• Economies of Scale, Imperfect Competition and International Trade.
• Economic Growth and International Trade.
Part Two: International Trade Policy.
• Trade Restrictions: Tariffs.
• Nontariff Trade Barriers and the New Protectionism.
• Economic Integration: Customs Unions and Free Trade Areas.
• International Trade and Economic Development.
• International Resource Movements and Multinational Corporations.
Part Three: Balance of Payments and Exchange Rates.
• Balance of Payments.
• Foreign Exchange Markets and Exchange Rates.
• Exchange Rate Determination.
Part Four: Open-Economy Macroeconomics and the International Monetary System.
• The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates.
• The Income Adjustment Mechanism and Synthesis of Automatic Adjustments.
• Open-Economy Macroeconomics: Adjustment Policies.
• Prices and Output in an Open Economy: Aggregate Demand & Aggregate Supply.
• Flexible versus Fixed Exchange Rates, the European Monetary System and Macroeconomic Policy Coordination.
• The International Monetary System: Past, Present and Future.