Renowned for its precise, in-depth coverage of international trade and finance, this classic text features a balance of the latest research, critical policy issues, and sophisticated economic analysis. The authors integrate the empirical studies thoroughly, giving students a richer understanding of how the existing economic models relate to the real world.Clear, analytical writing that patiently introduces students to economic theory, and then applies the theory to the latest policy issues and empirical research. Greater emphasis on microeconomic analysis of macroeconomic topics, such as outsourcing, and the effects of the immigration and emigration on labor. Supplementary chapters at the end of the book that offer extensions of the major economic models and theories, allowing professors the option of going into more depth. Developing countries discussed regularly throughout the text, rather than in a single isolated chapter, so that they are integrated within the relevant theoretical and policy discussions.