Includes bibliographical references and index.

Introduction to the global economy -- Understanding the global economy -- Comparative advantage : how nations can gain from international trade -- Unit two: International trade : enduring issues -- Sources of comparative advantage -- Regulating international trade : trade policies and their effects -- Regionalism and multilateralism -- Unit three: International finance : enduring issues -- Balance of payments and foreign exchange markets -- Exchange rate systems : past to present -- The power of arbitrage : purchasing power and interets rate parities -- Global money and banking : where central banks fit into the world economy -- Unit four: Contemporary global economic policies and issues -- Contemporary global economic issues and policies -- Economic development -- Industrial structure and trade in the global economy : businesses without borders -- The public sector in the global economy -- Dealing with financial crises : does the world need international financial architecture.