International Economics: Theory and Policy

readers

International Economics: Theory and Policy (6th Edition)
by: Paul R. Krugman
en

0201770377 9780201770377

&#8226ublisher:  Addison Wesley
•Number Of Pages:  784
&#8226ublication Date:  2002-07-26
•ISBN-10 / ASIN:  0201770377
•ISBN-13 / EAN:  9780201770377
•Binding:  Hardcover

Summary: Get the 7th edition, instead.
Rating: 4

This is an older edition of the book. Get the newer, seventh edition. The ISBN for the 7th edition is 0321451341.



Summary: An important and useful text for understanding trade theory
Rating: 5

Krugman and Obstfeld, two world renowned international economists, provide a full detailed analysis and examples for the basis of trade among nations. It is relatively straightforward to comprehend for both economists and noneconomists. International trade is an important component of economic policy for the growth and development of countries. This book examines various theoretical trade models and provides real world examples of policy formulation and their impact. The authors do not take any political positions, thus making their analysis a purely objective, or positive study.

I would highly recommend this book to students interested in doing research in international trade and development. It is a must read for prospective international economists. Noneconomists might also find it as a useful reference. I found the book to be invaluable in my graduate research and dissertation.



Summary: Krugman
Rating: 4

Some complicated theories explained in a way that can be understood.

Esay flow from a concept to the next.



Summary: Not What I've Come to Expect from Krugman
Rating: 1

First off, even if you totally discount the rest of my review, buy the low price international version of this book. On the March 10, 2005 episode of the daily show Krugman elucidated his feelings quite clearly. \"The real money is in textbooks. With other books, people need to decide whether to buy them or not. Students have to buy textbooks.\" Thanks Paul. I think I'm being charitable when I say that at $125 this book is a ripoff. It isn't even full color.

Anyway, on to the actual content of the book. I have to say that I was excited when I found out that my International economics course at Stanford was going to be using Paul Krugman's book. I've enjoyed his articles for the New York Times because they manage to cut right to the core of issues with an unusual amount of punch. Yet, time and time again I was disappointed with the frequently inpenatrable language and obtuse, unrealistic examples in this book. Unfortunately, the only part of Krugman's characteristic writing style that came through was a feeling of overwrought vitriol, which makes sense in an op-ed but has little place in a textbook. Furthermore, this book occupies a strange niche in the world of econ texts, it is not mathematically rigorous, nor is it well written. Usually we see one or the other but rarely both. Initially, I thought these observations were mine alone, but other students began openly voicing pointed criticisms of the book during class (and I am perhaps being too kind here in not repeating them). I've been in school nearly as long as I can remember and I have never seen such discontent with a text.

During the second half of the course even my econ prof became fed up and abandoned the book altogether. Given that, I find all of the positive reviews for this book rather astounding. My suspicion is that there might have been open rebellion amongst my classmates had not the professor decided to leave this text by the wayside. I also found that it is brimming with misplaced, one-sided arguments that come across as Krugman blatantly strawmanning arguments opposed to his own. One of many examples of this comes out of nowhere near the end of chapter 2. Krugman implies that anyone who doesn't believe in unmitigated free trade is intellectually irresponsible!?! This book pushes for unrestrained market fundamentalism throughout, primarily by misrepresenting any arguments that would effectively challenge it's simplistic and seemingly outdated dogma. This book, in particular, feeds into the same system of self serving scientism so prevalent in economics for the last 60 years.

Please don't mistake this review as the bile of a jilted student, I did quite well in the course. However, this is almost certainly the result of looking for alternative explanations of virtually every topic covered. The reason this book gets one star instead of two is because it lacks a lot of the modern learning tools prevalent in almost every other textbook. Things like quality questions, keywords, vocabulary and historical context all get short shrift in this this volume. If you're into learning about incomplete models that only represent a theoretical version of the world, this book is for you. Unfortunately, just like Krugman said on The Daily Show, if you are a student there is probably little chance that you have a choice on the matter. Buy the cheap international edition for 20 bucks. I would recommend that you use to the difference to buy William Easterly's Elusive Quest for Growth...and a beer.


And, if you want graduate level book, and like Obstfeld, I recommend he and Rogoff's book.


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