This is a comprehensive and clearly written text dealing with both the general theoretical basis of customs and monetary unions and the development and operation of the institutions and policies of the European community. Preface, The Framework, Britain and Europe, The Evolving Community, Institutions: Council and Court, Institutions: Commission and Parliament, The Theory of Economic Integration, The Economics of Integration, Trade Creation and Trade Diversion, Scale and Externalities, Terms of Trade and Dynamics Effects, Testing the Theory, The Impact on Britain, Microeconomic Policies, Competition Policy, Industrial Policy, The Birth of the Common Agricultural Policy, The Life of the Common Agricultural Policy, The Common Fisheries Policy, Transport Policy, Energy Policy, Social and Environmental Policy, Tax Harmonization, Macroeconomic Policies, The Community Budget, European Monetary Union - The Theory, The European Monetary System, Regional Policy, Commercial Policy - Friends and Neighbors, Commercial Policy - The World at Large, Conclusion, 1992 and All That, Statistical Appendix, Author and Subject Index.