1. Introduction     PART 1: INTERNATIONAL TRADE THEORY 2. World Trade: An Overview 3. Labor Productivity and Comparative Advantage: The Ricardian Model 4. Specific Factors and Income Distribution 5. Resources and Trade: The Heckscher-Ohlin Model 6. The Standard Trade Model 7. External Economies of Scale and the International Location of Production 8. Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises   PART 2: INTERNATIONAL TRADE POLICY 9. The Instruments of Trade Policy 10. The Political Economy of Trade Policy 11. Trade Policy in Developing Countries 12. Controversies in Trade Policy   MATHEMATICAL POSTSCRIPTS Postscript to Chapter 5: The Factor-Proportions Model Postscript to Chapter 6: The Trading World Economy Postscript to Chapter 8: The Monopolistic Competition Model

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content that is especially relevant to students outside the United States.  About the book Reveal theory and applications of international trade The text presents a balance of theoretical and practical coverage of international trade. Chapters on core theory are followed by a series of application chapters that confront policy questions using the newest empirical work, data, and policy debates. This structure enables students to grasp theoretical concepts and then see those same concepts in action, aiding retention and highlighting the relevance of course material. Key coverage includes the following:  An integrated, empirical-based treatment of the latest models of trade, such as the gravity, Ricardian, factor endowments, and imperfect competition models.  A thorough discussion of the causes and effects of trade policy focused on the income-distribution effects of trade.  An emphasis on the potential substitutability of international trade and international movements of factors of production, featuring an analysis of international borrowing and lending as intertemporal trade—the exchange of present consumption for future consumption.   Give students learning tools to master course material  Learning Goals list essential concepts so students understand what they need to take away from each chapter.  Case Studies illustrate theory using real-world applications and provide important historical context.  Special Boxes offer vivid illustrations of points made in the text, including President Jefferson’s trade embargo of 1807—1809, and the disputes over banana trade to generate acrimony among countries far too cold to grow any of their own bananas.  200+ Captioned diagrams reinforce discussions in the text and help students in reviewing the material.  Summary and Key Terms. Each chapter closes with a summary recapping the major points to aid student review of the material.  Problems, many of which cite real data or policies, allow students to practice what they’re learning. They range from routine computational drills to more analytical questions and problems. All end-of-chapter problems are included in MyLab™ Economics so that instructors can assign homework.  Further Reading sections at the end of each chapter provide annotated bibliographies of both seminal works and recent articles, encouraging students to explore the material further.   Relay recent developments in the theoretical and practical sides of international trade  EXPANDED! Case study on trade and unemployment discusses the potential links between import competition from developing countries--especially China--and declining manufacturing employment in the US (Chapter 4).  NEW! Box explores how the compensation of capital owners relative to workers has increased in the US (Chapter 5).  NEW! Box discusses recent evidence showing that the gains from trade have a pro-poor bias--because consumers with relatively lower incomes tend to consume a relatively higher share of their income on goods that are more widely traded (Chapter 6).  NEW! Box explains how many of the goods we consume are produced offshore in “Global Value Chains” and how this recent trend leads to misleading statistics for bilateral trade deficits (Chapter 8).  NEW! Box discusses “Brexit”--Britain’s startling vote to leave the European

About the book Relay recent developments in the theoretical and practical sides of international trade  Case study on trade and unemployment discusses the potential links between import competition from developing countries--especially China--and declining manufacturing employment in the US (Chapter 4).  Box explores how the compensation of capital owners relative to workers has increased in the US (Chapter 5).  Box discusses recent evidence showing that the gains from trade have a pro-poor bias--because consumers with relatively lower incomes tend to consume a relatively higher share of their income on goods that are more widely traded (Chapter 6).  Box explains how many of the goods we consume are produced offshore in “Global Value Chains” and how this recent trend leads to misleading statistics for bilateral trade deficits (Chapter 8).  Box discusses “Brexit”--Britain’s startling vote to leave the European Union (EU) (Chapter 10).  Research suggests that rapid changes in international trade flows have larger adverse effects on workers than previously realized (Chapter 12).  Additional coverage of relevant topics and events including the impact of the Automobile Intra-Industry Trade within the Association of Southeast Asian Nations-4 (ASEAN-4), namely Indonesia, Malaysia, the Philippines, and Thailand between 1998–2002; the origin of tariff-rate quotas and its practical application with oilseeds, noting that tariff quotas for these goods are more often applied than those for the traditionally protected products, like dairy or sugar; the role of negative interest rates in unconventional monetary policy; and the increasingly important role of emerging market economies in driving global growth.   Pearson MyLabTM Economics not included. Students, if MyLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.  Math Review Exercises. Pearson MyLab Economics now offers a rich array of assignable exercises covering fundamental math concepts geared specifically to principles and intermediate economics students. Aimed at increasing student confidence and success, the new math skills review Chapter R is accessible from the assignment manager and contains over 150 graphing, algebra, and calculus exercises for homework, quiz, and test use. Offering economics students warm-up math assignments, math remediation, or math exercises as part of any content assignment has never been easier!  HTML5 Player. In addition to matching the Flash player’s support of Accessibility requirements, the HTML5 player has a new “Show Work” feature to allow students to enter text either from a keyboard or stylus and to draw freehand on different backgrounds, such as a coordinate graph, with multiple fonts and colors. Students can also continue to upload images such as phone-photos of handwritten work. Printing enhancements include: o a more pen-and-paper-friendly layout of exercises o the ability for instructors to choose whether to print the header; to include an honor statement; and to print with answers inline, after each question, or on a separate sheet.