I believe the best way to motivate students to learn a subject is to demonstrate how it is used in practice. The first sixteen editions of International Economics reflected this belief and were written to provide a serious presentation of international economic theory with an emphasis on current applications. Adopters of these editions strongly supported the integration of economic theory with current events. The seventeenth edition has been revised with an eye toward improving this presentation and updating the applications as well as including the latest theoretical developments. Like its predecessors, this edition is intended for use in a one-quarter or one-semester course for students having no more background than principles of economics. This book’s strengths are its clarity, organization, and applications that demonstrate the usefulness of theory to students. The revised and updated material in this edition emphasizes current applications of economic theory and incorporates recent theoretical and policy developments in international trade and finance.
I would like to thank my colleagues at Central Washington University—David Hedrick, Peter Gray, Koushik Ghosh, Peter Saunders, Toni Sipic, and Chad Wassell—for their advice and help while I was preparing the manuscript. I am also indebted to Shirley Hood who provided advice in the manuscript’s preparation. It has been a pleasure to work with the staff of Cengage Learning, especially Julie Dierig (Project Manager), Chris Rader (Project Manager) and Michael Parthenakis (Senior Product Manager) who provided many valuable suggestions and assistance in seeing this edition to its completion. Thanks also to Kimberly Beauchamp, Erica Longenbach, and Pradhiba Kannaiyan who orchestrated the content development and composition of this book. I also appreciate the meticulous efforts that Linda Duarte provided in the copyediting of this textbook. Finally, I am grateful to my students, as well as faculty and students at other universities, who provided helpful comments on the material contained in this new edition.