The Rate of Exchange and the Terms of Trade Book

This volume originated in a course of lectures that the author originally gave at the Université Internationale de Sciences Comparées at Luxembourg. The book appeared under the title of the course, and followed the same pattern.
In the course of revisions the analysis has been carried a little further than it was originally presented, and many details have been added to its algebraic parts. In spite of these amplifi cations, however, the text remains on the level of elementary economics, and may be recommended to students whose interest in the subject is ahead of their technical background.