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International Economics: Global Markets And Competition, Fourth Edition

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AuthorHenry Thompson
ISBN9780000988768
Published LanguageEnglish
Publication Year2020
PublisherWorld Scientific
BindingPaperback
Original Price$68
Pages376
EditionWorld Scientific Low Price Edition (WSLPE)

Description

This book integrates the microeconomics of international trade with open economy macroeconomics and finance. The theory is comprehensive but presented with intuitive diagrams. The book emphasizes the gains from international competition and the limits of trade policy. Economics began during the Industrial Revolution with a debate over import tariffs. To this day, domestic industries lobby for tariff protection against foreign competition, paying lawmakers for tariffs on imports. Only under special conditions do tariffs lead to economic gains. Domestic importers of materials and industrial products favor free trade, as do export industries since tariffs encourage other countries to retaliate with tariffs of their own. Trade theory includes market analysis and general equilibrium models of the economy. This text integrates the full range of trade theory with exchange rates, balance of payments, international finance, and open economy growth and macroeconomics. The presentation focuses on diagrams and avoids equations and algebra. The theory is presented with numerical examples. The text does not assume intermediate economics, instead developing the theory with thorough explanations, questions in each section & boxed examples.

Additional information

Weight0.712 kg
Dimensions2.1 × 17.8 × 25.4 cm
Author

ISBN

Published Language

Publication Year

Publisher

Binding

Original Price

Pages

376

Edition

World Scientific Low Price Edition (WSLPE)