This book provides a comprehensive review of the theory of international trade and trade policy, including coverage of recent areas of research such as heterogeneous firm trade models and trade costs. It then proceeds to analyze the history of trade policies and the evolution of the global trading system, with a primary focus on important policies or controversial issues such as the Doha Round, antidumping duties, regionalism and fair trade.

It aims to emphasize the significance of different theories and how they are interconnected. Unlike other technique-driven international economics textbooks, this book focuses on readers understanding how theory and policy are connected. Written in a lecture note format and in a straightforward manner, the presentation is self-contained with no assumed mathematical knowledge.

Contents:Theory:; The Ricardian Model; Why International Trade?; The Neoclassical Model; A Partial Equilibrium Model of International Trade; International Trade and the Distribution of Income; The Leontief Paradox and Technology Based Trade Theories; Growth and Trade; Economies of Scale and Imperfect Competition; Factor Flows; Policy:; The Theory of Trade Policy; The Political Economy of Trade Policy; Instruments of Trade Policy; International Trade Law and Multilateral Trade Negotiations; Discriminatory Trade Policies and Regionalism; Trade and Development; Trade Costs, Trade Facilitation and Trade in Services; Globalisation.