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International Economics, 11th Edition

January 2013, ©2013
International Economics, 11th Edition (EHEP002499) cover image


International Economics by Dominick Salvatore, presents a comprehensive, up-to-date, and clear exposition of the theory and principles of international economics.  Salvatore presents concepts that are essential for understanding, evaluating, and suggesting solutions to the important international economic problems and issues facing the United States and the world in this age of globalization.

Neither overly complex nor too simplistic, International Economics helps students see the immediate relevance and importance of the material and contains an unparalleled number of real-world applications and examples.

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Table of Contents

Preface v

1 Introduction 1

Part 1 International Trade Theory

2 The Law of Comparative Advantage 31

3 The Standard Theory of International Trade 57

4 Demand and Supply, Offer Curves, and the Terms of Trade 85

5 Factor Endowments and the Heckscher–Ohlin Theory 109

6 Economies of Scale, Imperfect Competition, and International Trade 157

7 Economic Growth and International Trade 189

Part 2 International Trade Policy

8 Trade Restrictions: Tariffs 221

9 Nontariff Trade Barriers and the New Protectionism 257

10 Economic Integration: Customs Unions and Free Trade Areas 301

11 International Trade and Economic Development 331

12 International Resource Movements and Multinational Corporations 367

Part 3 The Balance of Payments, Foreign Exchange Markets, and Exchange Rates

13 Balance of Payments 397

14 Foreign Exchange Markets and Exchange Rates 423

15 Exchange Rate Determination 463

Part 4 Open-Economy Macroeconomics and the International Monetary System

16 The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates 507

17 The Income Adjustment Mechanism and Synthesis of Automatic Adjustments 541

18 Open-Economy Macroeconomics: Adjustment Policies 573

19 Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply 617

20 Flexible versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination 645

21 The International Monetary System: Past, Present, and Future 687

Glossary of Key Terms 729

Name Index 743

Subject Index 751

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New To This Edition

  • New topics reflect changing trends in world economy, including:
    • Effects of scarcity, environmental degradation, and climate change and how it affects the global market.
    • Suggests solutions to the important international economic problems, including what students and teachers can do to help.
  • Chapters reflect today’s dramatic economic and financial changes and how these problems can be resolved.
  • Reflects major imbalances due to globalization and examines the danger of the economic crisis in emerging nations through case studies.


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The Wiley Advantage

  • All the principles and theories are presented on an intuitive level in the text and then more rigorously in the optional appendices.
  • The same basic graphical and numerical model is utilized in all the trade chapters and another one in all the finance chapters. This makes learning easier and increases students' understanding.
  • 118 real-world case studies deepen understanding and show the relevance of principles and theories.  There are four to ten in each chapter.
  • Actual numbers are used in the examples and graphs are presented on scales for easier comprehension.
  • There is a full range of learning aids: each chapter ends with a summary, a look ahead, key terms, questions for review, problems, selected bibliography, and Internet exercises. There is also a website and a student study guide.


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Instructors Resources
Wiley Instructor Companion Site
Instructor Companion Site
Instructor’s Manual
Includes course outlines and chapter outlines, list of key terms, lecture guide, answers to end-of-chapter problems, and multiple choice questions for each chapter.
Test Bank
Contains hundreds of multiple choice and short essay questions.
Computerized Test Bank
Content from the Test Bank has been imported into a Test Generating Program so that instructors can customize their exams.
PowerPoint® Presentation Material
Enhances instructors’ presentation of the material and enhances students’ class experience. Also includes figures and illustrations from the text.
Image Gallery
Online Study Guide
Digital evaluation copy available for this title
Request Copy
Contact your Wiley Representative
Find Your Rep
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Students Resources
Wiley Student Companion Site
Online Study Guide
A great resource for additional review and practice, the Study Guide includes Chapter Outlines, Summary and Review for each chapter, Problems and Questions with Solutions for each chapter, and Diagrams for each chapter.
Student’s Companion Website
Provides a wealth of support materials for students.
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Purchase Options
Wiley E-Text   
International Economics, 11th Edition
ISBN : 978-1-118-54586-7
832 pages
December 2012, ©2013
$71.50   BUY

International Economics, 11th Edition
ISBN : 978-1-118-17793-8
832 pages
January 2013, ©2013
$245.95   BUY

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