International Economics

International Economics: The Wealth of Open Nations provides a comprehensive yet concise introduction to International Economics. It combines historical, theoretical and empirical perspectives and examines the international trade in goods and services, the international capital and exchange markets, and the economic management of individual nations within the international system. The first part of the text focuses on international trade theories of comparative and competitive advantage. The theory of trade policy and the reality of the international trading system are each examined in turn. The second part examines monetary aspects and in particular focuses upon the relationship between the balance of payments and international indebtedness, and on exchange markets and international capital markets. The third part focuses upon the management of the small, open economy, firstly assuming fixed exchange rates and then under floating exchange rates. The impact of inflation on economic policy is considered and the final chapter extends the analysis to the economic management of the global economy.