There is provided a synthetic resin emulsion comprising polymer particles having a core/shell structure, wherein the shell comprises a copolymer of an unsaturated carboxylic acid and a hydrophilic comonomer, the core comprises a copolymer of a monomer mixture comprising a radically polymerizable main monomer and a radically polymerizable functional monomer, and the monomers constituting the monomer mixture are selected so that the glass transition point (Tg) of the copolymer produced by polymerization is -20.degree. C. or below, and the synthetic resin emulsion has been produced by adding the monomer mixture for core formation and a pH adjustor to an aqueous copolymer solution, which has not been neutralized, produced by polymerizing the unsaturated carboxylic acid and the hydrophilic comonomer in an aqueous medium, and allowing a polymerization reaction to proceed. The use of the synthetic resin emulsion can provide a pressure-sensitive adhesive which has excellent adhesive properties such as adhesive strength, cohesive force and tackiness and can be easily swollen with water without any treatment with an alkali.