Globalization reshapes economies with new trade policies and expanding service exports.
The article "International Economics: An Introduction to Theory and Policy" explores how economies around the world are becoming more interconnected due to factors like outsourcing, global capital flows, and flexible exchange rates. It helps students understand these changes by combining current research with traditional economic theories. The book covers topics like trade policies, environmental impacts on trade, labor standards, and the role of organizations like the WTO. Unlike other textbooks, it starts by explaining the basic principles of international trade before diving into specific trade models. Overall, the book provides a comprehensive and accessible overview of international economics for students and teachers.