Major changes in the international economy call for changes in the study of international economics. Such developments as the OPEC victory over the oil-importing countries, other fresh attempts at forming international cartels, the increased flexibility of exchange rates since 1971.
This book attempts to introduce students with a relatively minimal economics background to the field of international economics. Its premise is that a few basic theoretical concepts can go a long way toward helping to interpret international economic relations.
The idea of writing this book came out of our exprerience in teaching international economics to undergraduates and business students since the late 1970s. We perceived two main challenges in teaching. The First was to communicate to students the exiting intelectual advances in this dynamic field. The second was to show how rhe development of international economics theory has traditionally beeā¦