International Economics: Theory and Policy, Global Edition

International Economics: Theory and Policy, 12^th Edition provides a balanced coverage of global theory and policy.

With an array of features and examples, this edition will equip your students with the skills to understand the developments in the changing global economy.

International Economics: Theory and Policy, Global Edition, 12^th Edition by Paul Krugman, Maurice Obstfeld, and Marc Melitz, provides an engaging, balanced coverage of the key concepts of international theory and policy, from theory to practice.

Divided into two halves, the first half is devoted to trading and the second half to monetary questions. The text provides a comprehensive introduction to theory and events, as well as detailed coverage of the actual policies put into place.

This latest edition is thoroughly updated and revised, highlighting important economic developments on a theoretical and practical level, with many updates focusing on the recent COVID-19 pandemic experience and its implications on the global economy.

Further updates include:

• A study of the latest trends on import competition from developing countries and especially case studies regarding China and the U. S. China trade tensions.
• A discussion of the impact of Brexit.
• A study of the relationship between money supply and prices, illustrating the recent hyperinflation in Venezuela as an example.

An array of useful features, case studies and examples in the text will equip you with the intellectual tools necessary to understand the changing world economy and the economic implications of global interdependence.

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Package consists of:

• 9781292409719 Theory and Policy, Global Edition, 12^th Edition
• 9781292409733 Theory and Policy, Global Edition, 12^th Edition MyLab^® Economics
• 9781292409849 Theory and Policy, Global Edition, 12^th Edition Pearson eText

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This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States.

1. Introduction

1. World Trade: An Overview
2. Labor Productivity and Comparative Advantage: The Ricardian Model
3. Specific Factors and Income Distribution
4. Resources and Trade: The Heckscher-Ohlin Model
5. The Standard Trade Model
6. External Economies of Scale and the International Location of Production
7. Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises

1. The Instruments of Trade Policy
2. The Political Economy of Trade Policy
3. Trade Policy in Developing Countries
4. Controversies in Trade Policy

1. National Income Accounting and the Balance of Payments
2. Exchange Rates and the Foreign Exchange Market: An Asset Approach
3. Money, Interest Rates, and Exchange Rates
4. Price Levels and the Exchange Rate in the Long Run
5. Output and the Exchange Rate in the Short Run
6. Fixed Exchange Rates and Foreign Exchange Intervention

1. International Monetary Systems: A Historical Overview
2. Financial Globalization: Opportunity and Crisis
3. Optimum Currency Areas and the Euro
4. Developing Countries: Growth, Crisis, and Reform