-- Preface -- Introduction -- Labor Productivity and Comparative Advantage: The Ricardian Model -- Specific Factors and Income Distribution -- Resources and Trade: The Heckscher-Ohlin Model -- The Standard Trade Model -- Economies of Scale, Imperfect Competition, and International Trade -- International Factor Movements -- The Instruments of Trade Policy -- The Political Economy of Trade Policy -- Trade Policy in Developing Countries -- Industrial Policy in Advanced Countries -- National Income Accounting and the Balance of Payments -- Exchange Rates and the Foreign Exchange Market: An Asset Approach -- Money, Interest Rates, and Exchange Rates -- Price Levels and the Exchange Rate in the Long Run -- Output and the Exchange Rate in the Short Run -- Fixed Exchange Rates and Foreign Exchange Intervention -- The International Monetary System, 1870-1973 -- Macroeconomic Policy and Coordination Under Floating Exchange Rates -- Optimum Currency Areas and the European Experience -- The Global Capital Market: Performance and Policy Problems -- Developing Countries: Debt, Stabilization, and Reform -- International Economic Problems of Former Communist Countries -- Mathematical Postscripts -- Postscript to Chapter 3: The Specific Factors Model -- Postscript to Chapter 4: The Factor Proportions Model -- Postscript to Chapter 5: The Trading World Economy -- Postscript to Chapter 6: The Monopolistic Competition Model -- Postscript to Chapter 21: Risk Aversion and International Portfolio Diversification -- Index.