product title: International Trade: Theory and Policy, Global 12th Edition

For courses in International Trade

International Trade: Theory and Policy provides engaging, balanced coverage of the key concepts and practical applications of the discipline. An intuitive introduction to trade theory is followed by detailed coverage of policy applications. With this new edition, the author team of Nobel Prize-winning economist Paul Krugman, renowned researcher Maurice Obstfeld, and Marc Melitz of Harvard University continues to set the standard for International Economics courses.

Format types

MyLab with eText = Access to the blended learning platform, merging digital content with complementary homework, tutorials, and assessments. Includes the accompanying eText.

eTextbook = A standalone digital replacement of a print textbook. You have 3 access durations to choose from to best suit your course. (180 day/12 month/5 years). Does not include access to the MyLab platform.

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MyLab is an innovative online learning platform to support you in your educational journey. It offers a range of interactive and personalized resources tailored to various subjects, helping you to better understand and retain course material. 

Key benefits of MyLab include immediate feedback on assignments and quizzes, allowing you to learn from your mistakes in real-time. Additionally, the platform provides a wealth of practice exercises, tutorials, and multimedia resources that cater to different learning styles.

New to this edition

• 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 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 realised (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.

Table of contents

• PART 1: International Trade Theory
• 2. World Trade: An Overview
• 3. Labor Productivity and Comparative Advantage: The Ricardian Model
• 4. Specific Factors and Income Distribution
• 5. Resources and Trade: The Heckscher-Ohlin Model
• 6. The Standard Trade Model
• 7. External Economies of Scale and the International Location of Production
• 8. Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises
• PART 2: International Trade Policy
• 9. The Instruments of Trade Policy
• 10. The Political Economy of Trade Policy
• 11. Trade Policy in Developing Countries
• 12. Controversies in Trade Policy
• Mathematical Postscripts
• Postscript to Chapter 5: The Factor-Proportions Model
• Postscript to Chapter 6: The Trading World Economy
• Postscript to Chapter 8: The Monopolistic Competition Model