The new edition has been refocused, revised and thoroughly updated. Key features include:
A new chapter on the firm in international trade accompanies a greater focus on firms in the world economy, how trade influences income inequality and how businesses can apply principles of international economics.
New or expanded chapter subsections on topics including the intersection of international economics and international business; money, interest rates, and the exchange rate; and the dynamic gains from trade.
Replacement and expansion of case studies to bring them fully up to date.
Chapters on economic development in both the international trade and finance sections on the book to reflect the increasing importance of low- and middle-income countries in the world economy.
A streamlined treatment of Purchasing Power Parity, leading into the concept of the real exchange rate.
Expanded treatment of the Eurozone and the Eurozone crisis.
Written in a thorough and engaging style, the book covers topics at a level appropriate for students specializing in business or international relations, as well as for economics students. Along with a wealth of case studies and real-life examples, the book offers extensive pedagogy including a companion website, end of chapter summaries, explanations of key concepts and terms, problem sets and additional readings.