Includes Index

1 The Globalization of Indian and World Economy

Part 1 International Trade Theory

2 The Law of Comparative Advantage

3 The Standard Theory of International Trade

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

5 Factor Endowments and the Heckscher–Ohlin Theory

6 Economies of Scale, Imperfect Competition, and International Trade

7 Economic Growth and International Trade

Part 2 International Trade Policy

8 Trade Restrictions: Tariffs

9 Nontariff Trade Barriers and the New Protectionism

10 Economic Integration: Customs Unions and Free Trade Areas

11 International Trade and Economic Development

12 International Resource Movements and Multinational Corporations

Part 3 The Balance of Payments, Foreign Exchange Markets, And Exchange Rates

13 Balance of Payments

14 Foreign Exchange Markets and Exchange Rates

15 Exchange Rate Determination

Part 4 Open-Economy Macroeconomics and The International Monetary System

16 The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates

17 The Income Adjustment Mechanism and Synthesis of Automatic Adjustments

18 Open-Economy Macroeconomics: Adjustment Policies

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

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

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