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This title was formally part of the Studies in International Trade Policy Series, now called Studies in International Economics.
This rigorous and comprehensive text encompasses modern theoretical and applied methods of analysis in the field of international trade. Rather than presenting the theory as fact, the authors illustrate the application of theory and consider those areas where theory appears deficient to explain observed phenomena.
The analysis begins with perfect competition, followed by an examination of imperfectly competitive market structures (including a wide range of models of price and quantity competition) and of multinational production. Part 1 provides an overview of the patterns and policy of the trading world; part 2 explores the trade and trade policy of competitive markets; part 3 discusses the trade and trade policy of imperfectly competitive markets. Of special interest are the final two chapters in part 4, which provide an updated analysis of topics that are not typically covered in other texts, namely the properties of exchange rate regimes for international trade and the relationship between growth and international trade.
The appendix provides a wealth of sources of data, most of which are available on the Internet. Another useful feature are the selected references and list of additional readings, ordered in terms of main topics, which appear at the end of each chapter.
The book is designed to be adopted as the core text for advanced undergraduate or graduate courses in international trade; prerequisites are courses in intermediate microeconomics and introductory econometrics.