International Trade

Catalog description

This course investigates a primary component in the study of international economics: the causes and effects of international trade and barriers to trade. The class begins with an overview of world trade patterns and then focuses on classical and modern trade theory, exploring the Ricardian and Heckscher-Ohlin models, as well as non-comparative advantage based models that incorporate economies of scale and monopolistic competition. The second part of the class focuses on trade policy, starting with a theoretical analysis of tariffs, and then investigating the debate over free trade as it pertains to both developing and advanced economies. The class also looks at the economic institutions involved in the management of global trade, such as the World Trade Organization.