A Guide to International Economics is divided into two parts: The first part is the theory of international trade and trade policy. It focuses on why nations trade with each other and the basis of trade. It then examines the effects of trade on the domestic economy. There is a consensus that a country will gain from international trade; yet, within the country, some groups will gain, while others will lose. Concerns about the effects of trade on the distribution of income lead governments to enact trade policies aimed at protecting industries and workers that are hurt due to import competition, and other policies aimed at promoting exports. From a business perspective, some domestic companies will face competition from foreign companies, ...
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