Elements of International Economics

1. Front Matter

   Pages I-XV

   PDF

2. Introduction

   1. Introduction

      • Giancarlo Gandolfo

      Pages 1-6

3. The Basics

   1. Front Matter

      Pages 7-7

      PDF

   2. The Foreign Exchange Market

      • Giancarlo Gandolfo

      Pages 9-30

   3. Exchange-Rate Regimes and the International Monetary System

      • Giancarlo Gandolfo

      Pages 31-48

   4. International Interest-Rate Parity Conditions

      • Giancarlo Gandolfo

      Pages 49-56

   5. The Balance of Payments

      • Giancarlo Gandolfo

      Pages 57-70

4. International Finance and Open-Economy Macroeconomics

   1. Front Matter

      Pages 71-71

      PDF

   2. The Basic Models: Elasticities, Multiplier, Mundell-Fleming

      • Giancarlo Gandolfo

      Pages 73-100

   3. The Monetary and Portfolio Approaches

      • Giancarlo Gandolfo

      Pages 101-112

   4. Capital Movements, Speculation, and Currency Crises

      • Giancarlo Gandolfo

      Pages 113-124

   5. Exchange-Rate Determination

      • Giancarlo Gandolfo

      Pages 125-144

   6. The Intertemporal Approach to the Balance of Payments

      • Giancarlo Gandolfo

      Pages 145-154

   7. International Monetary Integration and European Monetary Union

      • Giancarlo Gandolfo

      Pages 155-184

   8. Problems of the International Monetary System

      • Giancarlo Gandolfo

      Pages 185-204

5. International Trade Theory and Policy

   1. Front Matter

      Pages 205-205

      PDF

   2. The Orthodox Theory: Comparative Cost, Factor Endowments, Demand

      • Giancarlo Gandolfo

      Pages 207-236

   3. Tariffs, and Non-Tariff Barriers

      • Giancarlo Gandolfo

      Pages 237-252

   4. Free Trade vs Protection, and Preferential Trade Cooperation

      • Giancarlo Gandolfo

      Pages 253-266

   5. The new Protectionism

      • Giancarlo Gandolfo

      Pages 267-282

Modern economies become more and more open and the external sector of an economy becomes more and more important. This textbook aims at clarify­ ing how an open economy functions, in particular at explaining the determi­ nants of international fiows of commodities and financial assets. It also aims at examining the effects of these fiows on the domestic and international econ­ omy and the possible policy acti.ons at the national and international level. Particular attention will be paid to the problems of international economic at both the commercial and monetary level. integration Students will be able to read and interpret the balance of payments of a country, evaluating the various types of balance, to explain the behaviour of commercial fiows in the light of the theories studied, to analyze fiows of financial assets according to interest-rate differentials and other elements, to study the forces that determine exchange rates and cause currency crises, to understand the reasons behind international economic integration such as the European Union, to evaluate the effects of national and international policies.

• European Union (EU)
• International Economics
• International Finance
• International Trade
• Open-Economy Macroeconomics
• Trade Policy

From the reviews:

"This book details how an open economy functions. … Particular attention is paid to the problems of international economic integration at both the commercial and monetary level. This highly accessible textbook introduces students to the subject as well as equips them for further study. Advanced undergraduates and graduates will learn to read and interpret the balance of payments of a country … ." (RKW-Bücherdienst Ratinalisierungskuratorium und Innovationszentrum der Deutschen Wirtschaft, 2004)

• Faculty of Economics, University of Rome La Sapienza, Roma, Italy

  Giancarlo Gandolfo

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