About the Author
Distinguished Professor of Economics and Department Chairman at Fordham University in New York. He is a Fellow of the New York Academy of Sciences and Chairman of the Economics Section. Professor Salvatore is consultant to the United Nations, World Bank, International Monetary Fund, Economic Policy Institute, and several banks and international corporations. He received many awards including the City University of New York's "Achievement Award." Professor Salvatore has published 34 books, among which International Economics, 6/e (Prentice Hall, 1998) is the leading international text in the United States. Professor Salvatore has published over 100 articles in leading economics journals and has given more than 150 lectures around the world and was Visiting Professor at the Universities of Vienna, Rome, and Trieste and at the Central Bank of China. He is a regular contributor to several leading financial newspapers.
Table of ContentsINTERNATIONAL TRADE THEORY.
The Law of Comparative Advantage.
The Standard Theory of International Trade.
Demand and Supply, Offer Curves, and the Terms of Trade.
Factor Endowments and the Heckscher-Ohlin Theory.
Economies of Scale, Imperfect Competition, and International Trade.
Economic Growth and International Trade.
INTERNATIONAL TRADE POLICY.
Trade Restrictions: Tariffs.
Nontariff Trade Barriers and the New Protectionism.
Economic Integration: Customs Unions and Free Trade Areas.
International Trade and Economic Development.
International Resource Movements and Multinational Corporations.
THE BALANCE OF PAYMENTS AND EXCHANGE RATES.
Balance of Payments.
Foreign Exchange Markets and Exchange Rates.
Exchange Rate Determination.
OPEN-ECONOMY MACROECONOMICS AND THE INTERNATIONAL MONETARY SYSTEM.
The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates.
The Income Adjustment Mechanism and Synthesis of Automatic Adjustments.
Open-Economy Macroeconomics: Adjustment Policies.
Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply.
Flexible Versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination.
The International Monetary System: Past, Present, and Future Answers to Selected Problems.
Glossary of Key Terms.