Contents:Part 1: International trade theory -- Labor productivity and companrative advantage: the Ricardian model -- Specific factors and income distribution -- Resources and trade: the Heckscher-Ohlin model -- The standard trade model -- Economies of scale, imperfect competition, and international trade -- International factor movements -- Part 2: International trade policy -- The instruments of trade policy -- The political economy of trade policy --Trade policy in developing countries -- Strategic trade policies in advanced countries -- Part 3: Exchange rates and open-economy macroeconomics -- National income accounting and the balance of payments -- Exchange rates and the foreign exchange market : an asset approach -- Money, interest rates, and exchange rates -- Price levels and the exchange rate in the long run -- Output and the exhange rate in the short run -- Fixed exchange rates and foreign exchange intervention -- Part 4: International macroeconomic policy -- The international monetary system,1870-1973 -- Macroeconomic policy and coordination under floating exchange rates -- Optimum currency areas and the European experience -- The global capital market :performance and policy problems -- Developing countries: growth, crisis, and reform.
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