Includes references and index .

Contents: Part One: The theory of international trade: The basic theory using demand and supply -- Why everybody trades: comparative advantage -- Trade: factor availability and factor proportions are key -- Who gains and who loses from trade? -- Scale economics, imperfect competition, and trade -- Growth and trade -- Part Two: Trade policy: Analysis of a tariff -- Nontariff barriers to imports -- arguments for and against protection -- Pushing exports -- Trade blocs and trade blocks -- Trade and the environment -- Trade policies for developing countries -- Multinationals and migration: international factor movements -- Part Three: Understanding foreign exchange: Payments among nations -- The foreign exchange market -- Forward exchange and international financial investment -- What determines exchange rates? -- Government policies toward the foreign exchange market -- International lending and financial crisis -- Part Four: Macro policies for open economics: How does the open marcoeconomy work? -- Internal and external balancd with fixed exchange rates -- Floating exchange rates and internal balance -- National and global choices: floating rates and the alternatives.