This Basic Outline And Approach Has Been Kept In The Second Edition. The Second Edition Has Been Thoroughly Revised, Both In Order To Take Into Account New Theoretical Developments And To Bring The Exposition Up To Date And Take Account Of The Changes In Institutional Settings And Of New Policy Perspective. Parts I And II, On The Pure Theory Of Trade And On Economic Growth And Trade, Have Been Organized Around The Started Trade Barter Model. Part I To Review Alternative Approaches To The Ricardo And Heckscher- Ohlim Models. In Part II The Empirical Survey Has Been Revised To Take Recent Trends Into Account. Part III Now Deals With trade Policy. Part IV Now Comprises The Balance Of Payments And Problems Of International Economic Monetary Policy. Part V, On The International Monetary System, Has Been Completely Rewritten As The Institutional Scene Has Completely Changed Following The Breakdown Of The Bretton System And The Introduction Of Floating Exchange Rates.