International Economics: An Introduction to Theory and Policy (Paperback)

International Economics: An Introduction to Theory and Policy By Rajat Acharyya Cover Image
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Complementing trade theories with relevant trade empirics, this book covers three aspects of the study of International Economics: pure theory of trade, trade policy, and theory of Balance of Payments (BoP) and exchange rate. In the first part, it discusses the basic principles of international trade between dissimilar countries as well as between similar countries, and implications thereof in terms of welfare, income distribution, and growth. The approach taken here is distinctly different from that in most of the existing textbooks on international economics. Instead of model-specific discussions of the basic issues, it discusses the basic principles governing trade, gains from trade, and characteristics of international equilibrium in the context of a general trading environment of open economies. Subsequently, specific models of trade are introduced as alternative theoretical explanations for the basic principles of trade. In the second part, a wide range of policy issues are analysed including unilateral trade restrictions and promotions; reciprocatory trade policy choices through regionalism; product standards that regulate trade between developed and developing countries; and implications of capital inflow, FDI, fragmentation, and global value chains. In the third part, the book discusses different currency and exchange rate regimes and their implications for a country's balance of payments and foreign exchange reserves. Drawing upon the basic theories, it studies expenditure-reducing and expenditure-switching policies to correct for BoP imbalances under a pegged exchange rate regime. Finally, some reflections on the choice of exchange rate regime and optimum currency area wind up discussions of monetary issues in international economics.

About the Author

Rajat Acharyya, Professor of Economics, Jadavpur University Rajat Acharyya is currently Professor of Economics at Jadavpur University, and former Dean, Faculty of Arts, Jadavpur University. He has published extensively in different areas of international economics and is the editor of the e-journal Trade and Development Review. His current research interests include trade, export quality, and labour market implications. He was a Ford Foundation Research Fellow at Rochester University, USA (1997-98), Visiting Fellow at the University of Kent at Canterbury, UK (2008-10), and Visiting Professor at Utrecht University School of Economics, the Netherlands (2010).

Product Details
ISBN: 9780192865144
ISBN-10: 0192865145
Publisher: Oxford University Press, USA
Publication Date: December 19th, 2022
Pages: 644
Language: English