Brief Table of Contents Introduction PART 1: International Trade Theory World Trade: An OverviewLabor Productivity and Comparative Advantage: The Ricardian ModelSpecific Factors and Income DistributionResources and Trade: The Heckscher-Ohlin ModelThe Standard Trade ModelExternal Economies of Scale and the International Location of ProductionFirms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises PART 2: International Trade Policy The Instruments of Trade PolicyThe Political Economy of Trade PolicyTrade Policy in Developing CountriesControversies in Trade Policy Mathematical Postscripts Postscript to Chapter 5: The Factor-Proportions ModelPostscript to Chapter 6: The Trading World EconomyPostscript to Chapter 8: The Monopolistic Competition Model

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 North American Free Trade Agreement (NAFTA) on car production in Canada, Mexico, and the United States; and how the US sugar industry has been able to keep the price of sugar in the US substantially above the world price in recent years. Also available with MyLab EconomicsMyLab™ Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. Math Review Exercises. MyLab Economics now offers a rich array of assignable and auto-graded 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:a more pen-and-paper-friendly layout of exercisesthe 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