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International Economics, 12th Edition

January 2016, ©2016
International Economics, 12th Edition (EHEP003388) 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 rest of the world today and that they are likely to face in the coming years. Neither overly complex nor too simplistic, International Economics helps readers see the immediate relevance of the material and contains an unparalleled number of real-world applications and examples. This text is an unbound, three hole punched version.

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Table of Contents

1 Introduction 1


2 The Law of Comparative Advantage 29

3 The Standard Theory of International Trade 53

4 Demand and Supply, Offer Curves, and the Terms of Trade 79

5 Factor Endowments and the Heckscher–Ohlin Theory 101

6 Economies of Scale, Imperfect Competition, and International Trade 141

7 Economic Growth and International Trade 169


8 Trade Restrictions: Tariffs 197

9 Nontariff Trade Barriers and the New Protectionism 227

10 Economic Integration: Customs Unions and Free Trade Areas 263

11 International Trade and Economic Development 287

12 International Resource Movements and Multinational Corporations 317


13 Balance of Payments 345

14 Foreign Exchange Markets and Exchange Rates 365

15 Exchange Rate Determination 401


16 The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates 437

17 The Income Adjustment Mechanism and Synthesis of Automatic Adjustments 465

18 Open Economy Macroeconomics: Adjustment Policies 493

19 Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply 531

20 Flexible versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination 555

21 The International Monetary System: Past, Present, and Future 589

Answers to Selected Problems On Web

Glossary of Key Terms 623

Name Index 637

Subject Index 641

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New To This Edition

  • The 12th edition provides an in-depth analysis of the dangerous structural imbalances in the world economy and provides an evolution of the policy options available to deal with them.
  • New topics are discussed throughout the text such as: the rapid globalization of the world economy, the dollar-euro exchange rate, and the relationship between U.S trade deficits, trade protectionism and misaligned exchange rates.
  • New, extended, and revised sections and case studies in the trade theory and policy parts of the text include: benefits and challenges of globalization before and after the recent global financial crisis, EU-US trade disputes and protectionism, international trade and de-industrialization of the United States and other advanced countries, benefits and costs of NAFTA, international trade and environmental sustainability, and the debate over U.S. immigration policy, among others.
  • New sections and case studies in international finance include: size, currency and geographical distribution of the foreign exchange market, fundamental forces and “news” in exchange rate forecasting, the exploding U.S. trade deficit with China, petroleum prices and growth, inflation targeting and exchange rates, the Eurozone crisis and the future of the euro, and reforms of the international monetary system, among others.
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The Wiley Advantage

  • Continuous Example The same example is utilized in all the chapters dealing with the same basic concept, which demonstrates clearly to students the relationship between different topics and concepts.
  • Case Studies There are 126 real-world short case studies throughout the text that reinforce and highlight the most important topics presented in each chapter.
  • Actual Numbers and Scales The use of actual numbers in examples and scales on graphs make the presented concepts and theories more concrete, accessible, and pertinent to students and the graphs easier to read and understand.
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Instructors Resources
Wiley Instructor Companion Site
Instructor's Manual
Offers helpful teaching ideas, chapter objectives and lecture suggestions, answers to the end-of-chapter problems, a set of 15 to 20 multiple-choice questions, with answers, and additional problems and essays for each chapter.
PowerPoint Presentations
Our PowerPoint™ presentations contain a combination of key concepts allowing you to illustrate important topics with images, figures, and problems from the textbook.
Test Bank
Test your students’ comprehension with this digital collection of multiple-choice and free-response questions
Computerized Test Bank
Test your students’ comprehension with this digital collection of multiple-choice and free-response questions. Easily pick, choose, and incorporate questions to include in your student assessments. Wiley’s CBTs allows you to tailor exams according to study objectives and learning outcomes.
Image Gallery
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Students Resources
Wiley Student Companion Site
Study Guide
Contains tools to help support material from the text, including extensive review of key concepts, numerous additional illustrative examples, and practice problems and exercise sets.
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Purchase Options
Wiley E-Text   
International Economics, 12th Edition
ISBN : 978-1-118-95574-1
720 pages
December 2015, ©2016
$64.00   BUY

International Economics, Binder Ready Version, 12th Edition
ISBN : 978-1-118-95576-5
720 pages
January 2016, ©2016
$254.95   BUY

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