Table of contents for International economics / W. Charles Sawyer, Richard L. Sprinkle.

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Contents	xxx 
Chapter 1: Introduction: An Overview of the World Economy	xxx 
INTRODUCTION	xxx 
THE SCOPE OF INTERNATIONAL ECONOMICS	xxx 
THE OUTPUT OF THE WORLD ECONOMY	xxx 
IMPORTS AND EXPORTS OF GOODS IN THE WORLD ECONOMY	xxx 
INTERNATIONAL TRADE IN SERVICES	xxx 
CAPITAL FLOWS IN THE WORLD ECONOMY	xxx 
TRENDS IN INTERNATIONAL PRODUCTION AND TRADE	xxx 
GLOBALIZATION	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 2: Why Countries Trade	xxx 
INTRODUCTION	xxx 
INTERNATIONAL TRADE VERSUS INTERREGIONAL TRADE	xxx 
TRADE IN AN INDIVIDUAL PRODUCT	xxx 
TRADE BASED ON ABSOLUTE ADVANTAGE	xxx 
Absolute Advantage	xxx 
The Gains from Specialization and Trade with Absolute Advantage	xxx 
TRADE BASED ON COMPARATIVE ADVANTAGE	xxx 
Comparative Advantage	xxx 
The Gains from Specialization and Trade with Comparative Advantage	xxx 
TRADE BASED ON OPPORTUNITY COSTS	xxx 
Opportunity Costs	xxx 
The Gains from Specialization and Trade with Opportunity Costs	xxx 
DYNAMIC GAINS FROM TRADE	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 3: Comparative Advantage and the Production Possibilities Frontier	xxx 
INTRODUCTION	xxx 
THE PRODUCTION POSSIBILITIES FRONTIER AND CONSTANT COSTS	xxx 
The Production Possibilities Frontier	xxx 
Production and Consumption Without Specialization and Trade	xxx 
Production and Consumption with Specialization and Trade	xxx 
THE TERMS OF TRADE	xxx 
Changes in the Gains from Specialization and Trade	xxx 
Demand Conditions and the Terms of Trade	xxx 
Distribution of the Gains from Trade	xxx 
TRADE UNDER INCREASING OPPORTUNITY COSTS	xxx 
Increasing Costs and the Production Possibilities Frontier	xxx 
Production and Consumption Without Specialization and Trade	xxx 
Production and Consumption with Specialization and Trade	xxx 
INTERNATIONAL TRADE UNDER INCREASING COSTS: AN ADVANCED ANALYSIS
xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 4: Factor Endowments and the Commodity Composition of Trade	xxx 
INTRODUCTION	xxx 
THE FACTOR-PROPORTIONS THEORY	xxx 
Assumptions of the Factor-Proportions Theory	xxx 
The Factor Proportions-Theorem	xxx 
FACTOR-PRICE EQUALIZATION AND THE DISTRIBUTION OF INCOME	xxx 
Factor-Price Equalization	xxx 
Trade and the Distribution of Income	xxx 
THE SPECIFIC-FACTORS MODEL	xxx 
EMPIRICAL EVIDENCE CONCERNING THE FACTOR-PROPORTIONS THEORY	xxx 
The Leontief Parado	xxxx 
Explanations of the Leontief Parado	xxxx 
International Trade Not Explained by the Factor-Proportions Theory	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
APPENDIX 4.1: FACTOR-PROPORTIONS THEORY: AN ADVANCED ANALYSIS	xxx 
Chapter 5: Intraindustry Trade	xxx 
INTRODUCTION	xxx 
INTRAINDUSTRY VERSUS INTERINDUSTRY TRADE	xxx 
DEFINING INTRAINDUSTRY TRADE	xxx 
THE INCREASING IMPORTANCE OF INTRAINDUSTRY TRADE	xxx 
INTRAINDUSTRY TRADE IN HOMOGENEOUS PRODUCTS	xxx 
INTRAINDUSTRY TRADE IN DIFFERENTIATED PRODUCTS	xxx 
Economies of Scale	xxx 
The Product Cycle	xxx 
Overlapping Demands	xxx 
THE WELFARE IMPLICATIONS OF INTRAINDUSTRY TRADE	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 6: International Factor Movements	xxx 
INTRODUCTION	xxx 
INTERNATIONAL TRADE VERSUS INTERNATIONAL FACTOR MOVEMENTS	xxx 
INTERNATIONAL MOVEMENTS OF CAPITAL	xxx 
Reasons for the International Movement of Capital	xxx 
Welfare Effects of International Movement of Capital	xxx 
Capital Movements and Public Policy	xxx 
INTERNATIONAL MOVEMENTS OF LABOR	xxx 
Reasons for the International Movement of Labor	xxx 
Welfare Effects of the International Movement of Labor	xxx 
Immigration and Public Policy	xxx 
THE MULTINATIONAL CORPORATION	xxx 
The Importance of MNCs	xxx 
Reasons for the Existence of MNCs	xxx 
Public Policy toward Multinational Corporations	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 7: Tariffs	xxx 
INTRODUCTION	xxx 
TARIFFS: SOME PRELIMINARY DETAILS	xxx 
Types of Tariffs	xxx 
Methods of Valuing Imports	xxx 
THE WELFARE EFFECTS OF TRADE IN AN INDIVIDUAL PRODUCT	xxx 
Consumer and Producer Surplus: A Review	xxx 
The Effects Free Trade	xxx 
THE ECONOMIC EFFECTS OF TARIFFS	xxx 
The Effects of a Tariff for a Small Country	xxx 
The Effects of a Tariff for a Large Country	xxx 
THE EFFECTIVE RATE OF PROTECTION	xxx 
ARGUMENTS FOR TARIFFS	xxx 
Infant Government	xxx 
National Defense	xxx 
Infant Industries	xxx 
Senile Industry Protection	xxx 
Tariffs, Trade, and Jobs	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 8: Nontariff Distortions to Trade	xxx 
INTRODUCTION	xxx 
NONTARIFF BARRIERS TO TRADE	xxx 
QUOTAS	xxx 
THE ECONOMIC EFFECTS OF A QUOTA	xxx 
OTHER NONTARIFF DISTORTIONS	xxx 
Industrial Policy	xxx 
Technical Barriers to Trade	xxx 
Subsidies	xxx 
Government Procurement	xxx 
CORRUPTION AND INTERNATIONAL TRADE	xxx 
ECONOMIC SANCTIONS	xxx 
LABOR AND ENVIRONMENTAL STANDARDS	xxx 
TRANSPORTATION COSTS AND TRADE	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 9: International Trade Policy	xxx 
INTRODUCTION	xxx 
THE POLITICAL ECONOMY OF PROTECTIONISM	xxx 
Protectionism and Public Choice	xxx 
The Structure of Protection	xxx 
THE EVOLUTION OF U.S. TRADE POLICY	xxx 
ANTIDUMPING, COUNTERVAILING DUTIES, AND THE ESCAPE CLAUSE	xxx 
Antidumping	xxx 
Countervailing Duties	xxx 
The Escape Clause	xxx 
THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)	xxx 
GATT and Multilateral Trade Negotiations	xxx 
THE WORLD TRADE ORGANIZATION	xxx 
THE FUTURE OF TRADE NEGOTIATIONS	xxx 
The Future of MTNs	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
APPENDIX 9.1: PRICE DISCRIMINATION	xxx 
Chapter 10: Regional Economic Arrangements	xxx 
INTRODUCTION	xxx 
DEGREES OF ECONOMIC INTEGRATION	xxx 
RULES OF ORIGIN IN INTERNATIONAL TRADE	xxx 
TRADE EFFECTS OF ECONOMIC INTEGRATION	xxx 
THE STATIC EFFECTS OF A CUSTOMS UNION	xxx 
THE EUROPEAN UNION	xxx 
NAFTA AND OTHER U.S. TRADE AGREEMENTS	xxx 
NAFTA	xxx 
Other U.S. Trade Agreements	xxx 
MULTILATERALISM VERSUS REGIONAL TRADE AGREEMENTS	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 11: International Trade and Economic Growth	xxx 
INTRODUCATION	xxx 
THE DEVELOPING COUNTRIES	xxx 
Economic Development	xxx 
GDP of Developing Countries	xxx 
ECONOMIC GROWTH	xxx 
Preconditions for Growth	xxx 
Economic Growth and the Factors of Production	xxx 
Basic Growth Theory	xxx 
Changes in Capital Stock and Technology	xxx 
INTERNATIONAL TRADE AND ECONOMIC GROWTH	xxx 
Openness and Growth	xxx 
Capital Flows, Technology Transfers, and Economic Growth	xxx 
ECONOMIC DEVELOPMENT STRATEGIES	xxx 
Primary Products	xxx 
Import Substitution	xxx 
Export Promotion	xxx 
OFFICAL DEVELOPMENT ASSISTANCE	xxx 
The Role of Official Development Assistance	xxx 
Flows of Official Development Assistance	xxx 
Multilateral Development Organizations	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 12: National Income Accounting and the Balance of Payments	xxx 
INTRODUCTION	XXX 
NATIONAL INCOME ACCOUNTING	XXX 
The Measurement of GDP	xxx 
Items Excluded from GDP	xxx 
GDP and Changes in Prices	xxx 
The Components of GDP	xxx 
GDP AND THE TRADE BALANCE	xxx 
GDP in a Closed Economy	xxx 
GDP in an Open Economy	xxx 
Imports, Exports, and GDP	xxx 
Intertemporal Trade	xxx 
Saving, Investment, the Government Budget, and the Trade Balance	xxx 
Adjustments to Trade Imbalances	xxx 
THE BALANCE OF PAYMENTS ACCOUNTS	xxx 
The Balance on Current Account	xxx 
The Balance on Capital and Financial Accounts	xxx 
The Current Account and the Capital and Financial Accounts	xxx 
Balance of Payments Stages	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 13: International Transactions and Financial Markets	xxx 
INTRODUCTION	xxx 
THE FOREIGN EXCHANGE MARKET	xxx 
Paying for Imports and Exports	xxx 
Spot and Forward Exchange Rates	xxx 
Futures, Options, and Swaps	xxx 
INTERNATIONAL FINANCIAL MARKETS	xxx 
Financial Intermediation	xxx 
Risk Diversification	xxx 
Short-Run Movements of Portfolio Capital	xxx 
Long-Run Movements of Portfolio Capital	XXX 
PARTICIPANTS IN THE INTERNATIONAL FINANCIAL MARKETS	XXX 
Commercial Banks	XXX 
Corporations	XXX 
Nonbank Financial Institutions	XXX 
Speculators	XXX 
EUROCURRENCY MARKETS	XXX 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READINGS AND WEB SITES	xxx 
Chapter 14: Exchange Rates and Their Determination: A Basic Model	xxx 
INTRODUCTION	XXX 
EXCHANGE RATES	XXX 
THE DEMAND FOR FOREIGN EXCHANGE	XXX 
Shifts in the Demand for Foreign Exchange	xxx 
THE SUPPLY OF FOREIGN EXCHANGE	XXX 
Shifts in the Supply of Foreign Exchange	xxx 
EQUILIBRIUM IN THE FOREIGN EXCHANGE MARKET	xxx 
CHANGES IN THE EQUILIBRIUM EXCHANGE RATE	xxx 
EXCHAGE RATE VOLATILITY AND INTERNATIONAL TRADE	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SELECTED READINGS AND WEB SITES	xxx 
Chapter 15: Money, Interest Rates, and the Exchange Rate	xxx 
INTRODUCTION	xxx 
MONEY DEFINED: A REVIEW	xxx 
THE SUPPLY OF MONEY	xxx 
THE DEMAND FOR MONEY	xxx 
THE EQUILIBRIUM INTEREST RATE: THE INTERACTION OF MONEY SUPPLY AND 
MONEY DEMAND	xxx 
THE INTEREST RATE AND THE EXCHANGE RATE IN THE SHORT RUN	XXX 
INTEREST RATES, THE EXCHANGE RATE, AND THE BALANCE OF PAYMENTS
xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SELECTED READINGS AND WEB SITES	xxx 
Chapter 16: Price Levels and the Exchange Rate in the Long Run	xxx 
INTRODUCTION	xxx 
THE LAW OF ONE PRICE	xxx 
PURCHASING POWER PARITY	XXX 
Absolute Purchasing Power Parity	xxx 
Relative Purchasing Power Parity	xxx 
Purchasing Power Parity in the Short Run and the Long Run	xxx 
Nominal Exchange Rates in the Long Run	xxx 
THE REAL EXCHANGE RATE	xxx 
Changes in the Real Exchange Rate	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SELECTED READINGS AND WEB SITES	xxx 
Chapter 17: Output and the Exchange Rate in the Short Run	xxx 
INTRODUCTION	xxx 
AGGREGATE DEMAND AND AGGREGATE SUPPLY: A REVIEW	XXX 
Aggregate Demand	xxx 
Changes In Aggregate Demand	xxx 
Aggregate Supply	xxx 
Changes In Aggregate Supply	xxx 
Aggregate Equilibrium	xxx 
DETERMINANTS OF THE CURRENT ACCOUNT	XXX 
Exports	xxx 
Imports	xxx 
EXCHANGE RATE CHANGES AND EQUILIBRIUM OUTPUT IN AN OPEN ECONOMY
XXX 
Exchange Rate Appreciation	xxx 
Exchange Rate Depreciation	xxx 
Exchange Rate Shocks	xxx 
CHANGES IN THE EXCHANGE RATE AND THE COMPOSITION OF OUTPUT	XXX 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SELECTED READINGS AND WEB SITES	xxx 
Chapter 18: Macroeconomic Policy and Floating Exchange Rates	xxx 
INTRODUCTION	xxx 
FISCAL AND MONETARY POLICY	xxx 
CHANGES IN FISCAL POLICY	XXX 
Expansionary Fiscal Policy	xxx 
Contractionary Fiscal Policy	xxx 
CHANGES IN MONETARY POLICY	XXX 
Expansionary Monetary Policy	xxx 
Contractionary Monetary Policy	xxx 
MONETARY AND FISCAL POLICY IN AN OPEN ECONOMY	XXX 
Consistent Policy Mixes	xxx 
Inconsistent Policy Mixes	XXX 
TRADE FLOW ADJUSTMENT AND CURRENT ACCOUNT DYNAMICS	XXX 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SELECTED READINGS AND WEB SITES	xxx 
Chapter 19: Fixed Exchange Rates and Currency Unions	xxx 
INTRODUCTION	XXX 
INCONVERTIBLE CURRENCIES	XXX 
Difficulties Associated with Exchange Controls	xxx 
INTERVENTION IN THE FOREIGN EXCHANGE MARKET	xxx 
Macroeconomic Adjustment Under Fixed Exchange Rates: Part I	xxx 
Macroeconomic Adjustment Under Fixed Exchange Rates: Part II	xxx 
Fiscal Policy and Internal Balance	xxx 
The Effects of Expansionary and Contractionary Fiscal Policy	xxx 
Sterilization	xxx 
Pegging the Exchange Rate with Monetary Policy	xxx 
CURRENCY UNIONS	xxx 
THE INCOMPATIBLE TRINITY	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SELECTED READINGS AND WEB SITES	xxx 
Chapter 20: International Monetary Arrangements	xxx 
INTRODUCTION	xxx 
THE GOLD STANDARD	xxx 
The Gold Standard and Monetary Policy	xxx 
The Macroeconomics of the Gold Standard	xxx 
Costs and Benefits of the Gold Standard	xxx 
THE BRETTON WOODS SYSTEM AND THE INTERNATIONAL MONETARY FUND
xxx 
The Bretton Woods System	xxx 
The International Monetary Fund	xxx 
The Demise of the Bretton Woods System	xxx 
THE POST-BRETTON WOODS ERA	xxx 
Clean Floats	xxx 
Fixing the Exchange Rate	xxx 
OPTIONS FOR INTERNATIONAL MONETARY REFORM	XXX 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SELECTED READINGS AND WEB SITES	xxx 
Chapter 21: Capital Flows and the Developing Countries	xxx 
INTRODUCTION	xxx 
CAPITAL FLOWS TO DEVELOPING COUNTRIES	xxx 
Debt versus Equity	xxx 
Servicing Foreign Debt	xxx 
EXCHANGE RATE SHOCKS	xxx 
Macroeconomic Consequences of Exchange-Rate Shocks	xxx 
Sources of Exchange-Rate Shocks	xxx 
Commodity Price Shocks	xxx 
Exchange Controls	xxx 
Intervention, Capital Flight, and Defaults	xxx 
THE IMF AND DEVELOPING COUNTRIES	xxx 
IMF Conditionality	xxx 
The Future of the IMF	xxx 
SUMMARY	xxx 
KEY CONCEPTS AND TERMS	xxx 
PROBLEMS AND QUESTIONS FOR REVIEW	xxx 
SUGGESTED READING AND WEB SITES	xxx 
Appendix: GDP, Population, and Exports for Countries, 2005	xxx 
GDP, Population and Exports for U.S. Regions and States, 2005	xxx 
Glossary	xxx 
Index	xxx 

Library of Congress Subject Headings for this publication:

International economic relations.
International finance.