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Title: An important and useful text for understanding trade theory
Review: Krugman and Obstfeld 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.
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