Why study the economics of international business? -- International trade and economic theory -- The great debate - free trade versus protectionism -- The search for an orderly system for trade -- Regional trade associations -- Institutions of the multilateral trading system -- Orderly markets -- How countries restrict trade -- Control of the use of trade barriers -- 'Fair' trade -- National firms and transnational firms -- Private firms and state trading agencies -- Production firms and trading houses -- Financing international transactions -- Moving products between countries -- The settlement of international commercial disputes -- Facing the future -- Issues for the international trading system.