Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

By the end of this section, you will be able to:

Explain tarrifs as barriers to trade
Identify at least two benefits of reducing barriers to international trade

This resource explains the origin of GATT and some of the events that took place in the earlier stages of GATT.

Wide Angle video of Ambassador Charlene Barshefsky, former U.S. Trade Representative, discussing her views on economic change in China and China's participation in the World Trade Organization. [1:50]

This gives a definition of the World Trade Organization. Additional information is given by clicking on the links found below and their topics.