In the present text the author deals with both conventional and new approaches to trade theory and policy, treating all important research topics in international economics and clarifying their mathematical intricacies. The textbook is intended for undergraduates, graduates and researchers alike. It addresses undergraduate students with extremely clear language and illustrations, making even the most complex trade models accessible. In the appendices, graduate students and researchers will find self-contained treatments in mathematical terms. The new edition has been thoroughly revised and updated to reflect the latest research on international trade. International Trade Theory and Policy is a masterful exposition of the core ideas of international trade. The book updates the classic monograph of Professor Gandolfo and is now the single most comprehensive and up-to-date book in the field. I highly recommend it for advanced undergraduates, PhD students, and professional economists. Even specialists in international trade will find new insights. Professor Donald R. Davis, Kathryn and Shelby Cullom Davis Professor of Economics and International Affairs, Columbia University This new edition of International Trade Theory and Policy continues the fine tradition set by Giancarlo Gandolfo with his first edition. This is a comprehensive and up to date textbook ideal for both undergraduate and graduate trade courses. This new edition includes the latest on globalization, economic geography as well as a trade integration and wage inequality. It is an essential addition to any academics bookshelf and an important reference in any quality international trade course. Professor Pasquale M. Sgro, Associate Dean Research, Faculty of Business and Law, Deakin University and Editor, Journal of International Trade and Economic Development.