Includes bibliographical references and index.

Contents: The International economy and globalization -- 1. International trade relations: Foundations of modern trade theory: comparative advantage -- Sources of comparative advantage -- Tariffs -- Nonstariff trade barriers -- Trade regulations and industrial policies -- Trade policies for the developing nations -- Regional trading arrangements -- International factor movements and multinational enterprises --
2. International monetary relations: The Balance of payments -- Foreign exchange -- Exchange-Rate determination -- Balance of payments adjustment -- Exchange-Rate adjustments and the balance of payments -- Exchange-Rate systems and currency crises -- Macroeconomic policy in an open economy -- International banking: reserves debt, and risk.