ECON 436International Trade

Catalog

Prerequisites: Grade of C or better in ECON 360; also grades of C or better in college level statistics and calculus. This is an introduction to the theories of international trade and their applications. We use classical models to analyze the causes of trade (such as comparative advantage and resource endowments) and the effects of trade on the welfare and income distribution of a country. In addition, both external and internal economies of scale are shown to give rise to interesting trade patterns. We examine the effects of policy instruments such as tariffs, export subsidies and import quotas. The political economy of trade, including the case made for free trade and arguments against it, will also be highlighted. Format: Homework and chapter quizzes on MyEconLab, group project, two midterms, and a final exam."