International Economics: Global Markets and Competition (3rd Edition)

INTERNATIONAL ECONOMICS, GLOBAL MARKETS AND COMPETITION, 3rd Edition, World Scientific Publishing Co., Pte., Ltd., 2011

32 Pages Posted: 13 Jul 2011

See all articles by Henry Thompson

Henry Thompson

Auburn University - Department of Economics

Date Written: April 12, 2011

Abstract

This book integrates the microeconomics of trade with international finance and open economy macroeconomics. The emphasis throughout is on international competition and the limits of trade policy.

Economics began with a debate over tariffs. Domestic industries lobby for protection against foreign competitors or export subsidies. Government policy makers dole favors in return for cash and votes. Governments negotiate free trade agreements but disregard them when possible with tariffs, export subsidies, and other policies to influence foreign trade and investment. The forces of international competition, however, eventually overwhelm government policy.

This text presents the critical issues of international trade and finance. Trade theory includes partial equilibrium market analysis, neoclassical trade models, constant cost production, factor proportions production, and models of industrial organization. The text integrates concepts from international finance and the basic models of open economy macroeconomics.

The presentation uses graphs with numerical examples making the theory easier for students, especially when combined with more general classroom presentation. The text does not assume previous courses in intermediate economics or calculus but develops the theory with simple tools. Numerous questions give students confidence to use the theoretical models and concepts.

Over 250 boxed examples illustrate the theory, many with visually descriptive charts and plots. The text is concise in its presentation style. Students enjoy its clear straightforward style and instructors notice the difference on exams. Contents: Trade and Protectionism: Markets and Trade; Gains from Trade; Protectionism; Terms of Trade; Production and Trade: Trade with Constant Cost Production; Factors of Production of Trade; Industrial Organization and Trade; International Integration: International Migration and Captial; International Economic Integration; International Macroeconomics: Balance of Payments; Foreign Exchange Rates; Money and International Financial Markets; Open Economy Macroeconomics.

Keywords: International Trade, Financial Economics, Investment, Policy, Macroeconomics

Suggested Citation

Thompson, Henry, International Economics: Global Markets and Competition (3rd Edition) (April 12, 2011). INTERNATIONAL ECONOMICS, GLOBAL MARKETS AND COMPETITION, 3rd Edition, World Scientific Publishing Co., Pte., Ltd., 2011, Available at SSRN: https://ssrn.com/abstract=1884625

Henry Thompson (Contact Author)

Auburn University - Department of Economics ( email )

Economics Department
Auburn, AL 36849-5242
United States
334-844-2910 (Phone)
334-844-5639 (Fax)

HOME PAGE: http://www.auburn.edu/~thomph1

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