International trade : theory and policy.

Format:

Book

Contributor:

Open Textbook Library, distributor.

Series:

Open Textbook Library.

Open textbook library.

Language:

English

Subjects (All):

International trade--Textbooks.

International trade.

Genre:

Textbooks.

Physical Description:

1 online resource : illustrations (some colour).

Updated irregularly.

Distribution:

Minneapolis : Open Textbook Library.

Place of Publication:

Arlington, Virginia : Saylor Academy, 2010-

System Details:

Mode of access: World Wide Web.

text file

Summary:

"The text also addresses current issues such as free trade area formation and administered protection policies. The models are developed, not by employing advanced mathematics, but rather by walking students through a detailed description of how a model's assumptions influence its conclusions. But more importantly, each model and theory is connected to real world policy issues. The main purpose of the text is to provide a thorough grounding in the arguments concerning the age-old debate about free trade versus protectionism. This text has the following unique features: The text begins with an historical overview of trade policy issues to provide context for the theory. The text concludes with a detailed economic argument supporting free trade. The welfare analysis in the Ricardian, Heckscher-Ohlin and specific factors models emphasize the redistributive effects of free trade by calculating changes in real incomes. The trade policy chapter provides a comprehensive look at many more trade policies than are found in a printed textbook. A chapter about domestic policies contains an evaluation of domestic taxes and subsidies that are often ignored in traditional trade textbooks but are increasingly important as large countries complain more about each other's domestic agriculture policies and labor and environmental policies.The text uses the theory of the second-best to explain why protection can improve national welfare. This well-known theoretical result is rarely presented as methodically and consistently as it is in this text."--Open Textbook Library.

Contents:

Introductory trade issues : history, institutions, and legal framework

The Ricardian theory of comparative advantage

The pure exchange model of trade

Factor mobility and income redistribution

The Hecksher-Ohlin (factor proportions) model

Economies of scale and international trade

Trade policy effects with perfectly competitive markets

Domestic policies and international trade

Trade politics with market imperfections and distortions

Political economy and international trade

Evaluating the controversy between free trade and protectionism.

Notes:

Includes bibliographical references.

This bibliographic record is available under the Creative Commons CC0 "No Rights Reserved" license.

Description based on online version, v. 1.0, 2012; Title from OTL website (viewed on July 20, 2016)

ISBN:

1936126443

9781936126446

OCLC:

953795756

Access Restriction:

Open Access Unrestricted online access