An Excellent Introductory Textbook
2015-01-24
As a self-intergrated part of Krugman's International Economics, this textbook does its job perfectly. First half (International Trade Theory) covers Comparative Advantage, Heckscher-Ohlin Model and Standard Trading Model, as well as economic growth, economics of scale and factor movement. Second half (International Trade Policy) covers Tariff, Quota and other instruments of trade policy. In addition, the textbook includes brief analysis of trade policy in developed and developing countries, as well as multi-national trade organizations featuring WTO. Krugman deploys much economic instinct in various analysis, providing an intuitive insight into the essence of trade theory and trade policy. Also many empirical studies is mentioned in text, as auxiliary materials to deepen the comprehension of theories.