PART ONE: INTERNATIONAL TRADE THEORY.

Chapter 2: The Law of Comparative Advantage.

Chapter 3: The Standard Theory of International Trade.

Chapter 4: Demand and Supply, Offer Curves, and the Terms of Trade.

Chapter 5: Factor Endowments and the Heckscher-Ohlin Theory.

Chapter 6: Economies of Scale, Imperfect Competition, and International Trade.

Chapter 7: Economic Growth and International Trade.

PART TWO: INTERNATIONAL TRADE POLICY.

Chapter 8: Trade Restrictions: Tariffs.

Chapter 9: Nontariff Trade Barriers and the New Protectionism.

Chapter 10: Economic Integration: Customs Unions and Free Trade Areas.

Chapter 11: International Trade and Economic Development.

Chapter 12: International Resource Movements and Multinational Corporations.

PART THREE: THE BALANCE OF PAYMENTS, FOREIGN EXCHANGE MARKETS, AND EXCHANGE RATES.

Chapter 13: Balance of Payments.

Chapter 14: Foreign Exchange Markets and Exchange Rates.

Chapter 15: Exchange Rate Determination.

PART FOUR: OPEN-ECONOMY MACROECONOMICS AND THE INTERNATIONAL MONETARY SYSTEM.

Chapter 16: The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates.

Chapter 17: The Income Adjustment Mechanism and Synthesis of Automatic Adjustments.

Chapter 18: Open-Economy Macroeconomics: Adjustment Policies.

Chapter 19: Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply.

Chapter 20: Flexible versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination.

Chapter 21: The International Monetary System: Past, Present, and Future.

Glossary of Key Terms.

Name Index.

Subject Index.