International Trade Theory and Policy

Catalog description

Credits 3. 3 Lecture Hours. Analysis of the causes and consequences of international trade and trade policy; develops theoretical foundations based on comparative advantage and factor endowments to explain patterns of trade and the distribution of gains across individuals and countries; examines the determination of product and factor prices and the effects of trade on income inequality and economic welfare; evaluates the rationale and impact of trade policies such as tariffs, quotas and subsidies. Prerequisite: Grade of C or better in ECON 323 ; also taught at Galveston campus.