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This introduction has been designed for students who have no more than a basic knowledge of economic theory. Key sections on international finance, international trade and open economy macroeconomics develop both the theory and the applications of particular policy issues. As national economies have become more integrated through trade and capital flows, international economics has come to be central to any economics curriculum. This new edition of a classic introduction to the study of the topic has been designed to reflect this development in the economics curriculum. The fifth edition has been thoroughly revised to take into account the latest issues and controversies. New issues covered include: New developments in regional trade blocks International Public Finance and trade policy Financial derivatives The Asian crisis European Monetary Union Accessible to students with economics only at an introductory level, this text develops the intermediate micro and macro tools necessary for a rigorous understanding of trade and finance. International Economics 5th Edition will thus enable the student to apply the set of theoretical tools necessary to explaining current events and policy proposals. A variety of real world examples are employed to illustrate the relevance and policy implications of key economic concepts. Written in a clear and readable manner, International Economics 5th Edition includes a range of features designed to aid student learning.