PART ONE: INTERNATIONAL TRADE THEORY.

2. Comparative Advantage.

3. The Standard Trade Model.

4. The Hecksher-Ohlin and Other Trade Theories.

PART TWO: INTERNATIONAL TRADE POLICY.

5. Trade Restrictions: Tariffs.

6. Nontariff Trade Barriers and the Political Economy of Protectionism

PART THREE: INTERNATIONAL TRADE AND INVESTMENT RELATIONS.

7. Economic Integration.

8. Growth and Development with International Trade.

9. International Resource Movements and Multinational Corporations.

PART FOUR: THE BALANCE OF PAYMENTS, FOREIGN EXCHANGE MARKETS, AND EXCHANGE RATES.

10. The Balance of Payments.

11. The Foreign Exchange Market and Exchange Rates.

12. Exchange Rate Determination.

PART FIVE: OPEN-ECONOMY MACROECONOMICS.

13. Automatic Adjustments with Flexible and Fixed Exchange Rates.

14. Adjustment Policies.

PART SIX: THE OPERATION OF THE INTERNATIONAL MONETARY SYSTEM:

PAST, PRESENT, AND FUTURE.

15. Flexible versus Fixed Exchange Rates, European Monetary System, and Macroeconomic Policy Coordination.

16. The International Monetary System: Past, Present, and Future.