Balance-of payments concepts and measurement -- The foreign exchange market -- Balance-of-payments adjustment under freely fluctuating exchange rates -- Balance-of-payments adjustment under the gold standard -- Balance-of-payments adjustment under pegged exchange rates -- The income approach to Balance-of-payments adjustment -- The price and income approaches to Balance-of-payments adjustment -- International long-term capital movements -- Restrictions on trade and payments for Balance-of-payments adjustment -- Monetary and fiscal policies for internal and external balance --Economic growth and the Balance-of-payments -- Problems of the international monetary system.