What is the best International trade textbook for undergraduate Level students?
- International Economics by Alan M. Taylor and Robert C. Feenstra
- International Trade by John Mclaren,
- Advanced International Trade by Robert C. Feenstra.
Taylor and Feenstra treat international trade from a very specific point of view (Heckscher-Ohlin trade theory). It soon shifts to policy questions and then international finance.
McLaren's book is much better, because it treats various aspects of trade problems. In the theoretical side, it is based on Ricardian theory of comparative advantage with some comments on newer developments such as increasing returns (Krugman) and heterogeneity of firms (Melits) as well as Heckscher-Ohlin.
Feenstra's Advance International Trade is, as the title tells, a textbook for graduate students and not destined for undergraduate students. It mentions Ricardian theory for only a few words and neglect it. This may be good for students who want to study international trade from Heckscher-Ohlin (or factor endowment side or alocational efficiency), but not good for students in developing countries. As Feensra's put it in p.4 of his Advanced textbook, "[w]hile the Ricardian model focuses on technology, the Heckscher-Ohlin model, ... , focuses on factors of production."
This means that technology aspects are not well treated in Feenstra (including Taylor and Feenstra), whereas enhancement of technology level is the primal problems for developing countries (for students, professors, and policy makers).
For the moment, it is difficult to point a good textbook for undergraduate students. However, professors (specially in developing countries) who teach international trade should not dispense with paying attention to recent development of Ricardian trade theory. It is now no theory of one-factor (work) and two-products. See for example
(1) The new theory of international values: an overview (2017) https://www.researchgate.net/publication/315860364_The_New_Theory_of_International_Values_An_Overview
(2) The nature of international competition among firms (2018 with Fujimoto) https://www.researchgate.net/publication/328098431_The_Nature_of_International_Competition_Among_Firms
(1) is a presentation of pure theory in Ricardian traditions in a world economy where there M-countries and N-commodities. (2) is an illustration of how the new theory (of Ricrardo) can be used in practical arguments for firms' managers.
The theory is developing in these 15 years. Those who want to obtain the newest results are requested to read a new version of "The new theory of international trade." If anybody who wants to read and study it is requested to send me an e-mail (through RG or directly to [email protected]). I will be happy to send him or her the PDF of The new theory of international trade: a restatement (a draft, yet unpublished).
Sayed Irshad Hussain Chin Hee Pah Victor Cruz-e-Silva
It is difficult to recommend any current international trade textbooks because they all contain an interpretation of David Ricardo's famous numerical example that has been recently debunked.
This misinterpretation of Ricardo was the starting point of all further developments in international trade theory during the last two hundred years.
Article OVERCOMING ABSOLUTE AND COMPARATIVE ADVANTAGE: A REAPPRAISAL...
Dear José Tomás Peláez Soto
I recently had the opportunity to discuss with Donald J. Boudreaux the common misinterpretation of David Ricardo's famous numerical example.
I leave you the link to this exchange, in case you are interested: https://www.econlib.org/did-adam-smith-anticipate-the-idea-of-comparative-advantage/#comment-338035
Of course, I am interested. Thank you for the link Jorge Morales Meoqui
Shaheed el comercio es una actividad que se nutre de as habilidades básicas, en este caso la administración. Por lo tanto el texto "Developing Management Skills". David A. Whetten, Kim S. Cameron