The Modern World Economy: Theories and Policies in Historical Perspective

Part 1 International trade: the dimensions and evolution of world trade; a short history of international trade; the theory of international trade - the early approach; the theory of international trade - the modern view; alternative explanations of international trade; the international mobility of resources; the survival and rebirth of protectionism in the 19th century - the United States, Germany, and France; the analysis of barriers to trade; common arguments for protection; regional economic integration; economic nationalism and internationalism in the 20th century. Part 2 International finance: international payments and the foreign exchange market; foreign exchange rates and their determination; the balance of payments; national income and foreign trade; balance of payments adjustment with fixed and flexible exchange rates; the classical gold standard as a world system; the international monetary system during the interwar period; international monetary co-operation after World War II.