International Trade by Steve Suranovic helps students apply economic models to the real world and focuses on the debate surrounding free trade. International Trade: Theory and Policy is built on Steve Suranovic’s belief that to understand the international economy, students need to learn how economic. Get this from a library! International trade: theory and policy. [Steven M Suranovic ; Open Textbook Library,].

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Well-rounded exercises and explanations are provided, and the sections on mathematical models and quantitative analysis are presented in a clear and concise manner. When it is self-referential, it seems to be with good reason.

However, with respect to the few chapters, largely at the beginning and end of the book, that deal with the political economy of international trade and with trade negotiations, it would be desirable to provide a fuller, more updated discussion. The text concludes with a detailed economic argument supporting free trade. It includes trade policy analysis in both perfectly competitive and imperfectly competitive markets.

Most of these are still working, but a few did not and need updating.

International Trade: Theory and Policy – Open Textbook Library

Gerlach – University of California Press This book attempts to explain the remarkable economic success of Japan in the postwar period – a success it is crucial for us to understand in a time marked by controversial trade imbalances and concerns over competitive industrial performance.

Theory and Policy presents a variety of international trade models including the Ricardian model, the Heckscher-Ohlin model, and the monopolistic competition suranivic.


There is no index or glossary, but the reader can hover the cursor over key terms that appear in bold for definitions. It does not offer an index or glossary, interjational both would be useful. The text uses the theory of the second-best to explain why protection can improve national welfare. Also, such reference links could be used more extensively and consistently throughout the book, and this would be an enhancement.

The text inrernational the theory of the second-best to explain why protection can improve national welfare.

International Trade Theory and Policy

Occasionally discussion of building-block components of models seems unbalanced. In it he offers a critique of current methods to evaluate and choose policies and suggests a simple, principled, and moderate alternative.

Although the book is somewhat western centric unternational the examples it gives, steveh does not do so in a way that a multicultural audience would find either offensive or exclusionary. Comments An instructor’s manual would be helpful, as would a second edition in the not too distant future.

Chapters 5 and 7 are among the strongest in terms of both clarity and depth. The book is written in a very clear and lucid manner, and the jargon and technical terminology is presented in a reader friendly manner that is accessible to students new and unfamiliar with the topic. suranocic

I am hopeful that future versions of this text might differentiate it from other texts in regard to this concern. Most links to other sources are still functioning and accurate. A chapter about domestic policies contains an evaluation of domestic taxes and subsidies that are often ignored in traditional trade textbooks but are increasingly important as large countries complain more about each other’s domestic agriculture policies and labor and environmental policies.


The use of subscripts is inconsistent and therefore confusing, and in a small number of places there are errors in equations. Tables and figures were undistorted, although as previously mentioned errors in equations complicate the reader’s ability to understand certain material.

Equations-within text and tables- need thorough editing. The text begins stdven an historical overview of trade policy issues to provide context for the theory. His research shows that dangerous behaviors can be explained as the outcome of a reasoned and rational optimization exercise.

The author thoughtfully acknowledges different perspectives on the debates surrounding free trade and protectionism, and does so across chapters rather than relegating the discussion to a single chapter. I do not believe this goal can be fully realized without intrrnational to the problems in the equations.

This text seems relatively easy to break into discrete sections. Evaluating the Controversy between Free Trade and Protectionism.

History, Institutions, and Legal Framework Chapter 2: A frequent criticism I have of economics textbooks is the tendency to overuse the US as an example country, whether in a 1-country or 2-country example.

Read online online html. I reviewed Version 1.