Preface; Introduction; International trade and trade policy; Patterns of trade and the gains from trade: insights from classical theory; Trade between dissimilar countries: insights from the factor proportions theory; Trade between similar countries: implications of decreasing costs and imperfect competition; The theory of protection: tariffs and other barriers to trade; Arguments for protection and the political economy of trade policy; Regional blocs: preferential trade liberalization
Commercial policy: history and recent controversiesInternational mobility of labor and capital; Trade and growth; Issues of international public economics; International finance and open economy macroeconomics; Balance-of-payments accounting; Markets for foreign exchange; International derivatives: foreign exchange forwards, futures, and options; Alternative models of balance-of-payments or exchange-rate determination; Payments adjustment with fixed exchange rates; Balance-of-payments adjustment through exchange rate changes; Open economy macroeconomics with fixed exchange rates
The theory of flexible exchange ratesThe international monetary system: history and current controversies; Glossary; Index