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International Trade- Theory and Policy
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This text strives to reach a median between these two approaches. First, I believe that students need to
learn the theory and models to understand how economists understand the world. I also think these ideas
are accessible to most students if they are explained thoroughly. This text presents numerous models in
some detail, not by employing advanced mathematics, but rather by walking students through a detailed
description of how a model’s assumptions influence its conclusions. Second, and perhaps more important,
students must learn how the models connect with the real world. I believe that theory is done primarily to
guide policy. We do positive economics to help answer the normative questions; for example, what should
a country do about its trade policy or its exchange rate policy? The results from models give us insights
that help us answer these questions. Thus this text strives to explain why each model is interesting by
connecting its results to some aspect of a current policy issue.
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International Trade- Theory and Policy
Makerting
English
2011
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