The Economics of Global Trade

This textbook offers a clear and structured introduction to the essential theories of international trade and competition. With a focus on conceptual clarity and approachability, it guides students through the foundational models of international economics—ranging from classical theories of comparative advantage to modern insights on imperfect competition, strategic trade policy, and the role of international institutions. The authors, Karl Morasch and Florian W. Bartholomae, emphasize the real-economic foundations of international trade, highlighting the mechanisms that shape trade flows, the welfare effects of openness, and the strategic behavior of firms in global markets. Key topics include trade under perfect and imperfect competition, factor endowment models, distributional effects of trade, and institutional frameworks such as the WTO and the European Union. Each chapter begins with a thematic overview and ends with a concise summary of key insights. Numerous diagrams and tables help visualize theoretical relationships, while control and practice questions promote active learning. The book is ideally suited for undergraduate and graduate students in economics and business administration, particularly in Bachelor, Master, and MBA programs. By providing a coherent and pedagogically grounded overview of international economics, this textbook enables students to understand global markets, trade policy, and the competitive dynamics of an interconnected world.