This is a one-semester course in international trade theory, trade policy, and international finance. The course will aim to explain patterns of world production and trade and ask if international trade is beneficial. The course will analyze and compare instruments of trade policy and evaluate their impact on domestic and international welfare. Finally, the course will study the world trading system, including the World Trade Organization (WTO) and international trade agreements. The objective of this course is to provide a foundation in international trade theory and enable the student to apply this theory to the study of issues in trade theory, globalization, economic integration, and trade policy. This course is designed to serve both as a stand-alone course in international trade theory and policy and as a foundation for further study of advanced international trade theory and international economics.
Prerequisites: Intermediate Microeconomics, Elementary Mathematics, and Statistics
- Be familiar with the basic models of international trade and their essential properties
- Understand the tools taught in the course and be able to recognize their application to the analysis of real-world fact situations
- Be able to understand international trade-related phenomena and FOREX markets
- Understand the reasons for trade restrictions and trade war
- Be able to identify the pros and cons of globalization
- Read and understand professional economics articles in the field of international trade theory
1. Donomick Sal Vatore B., International Economics (Latest Edition), Prentice-Hall.
2. Krugman and Obstfeld, International Economics: Theory and Policy, (Latest Edition) Addison Willey
1. International Trade, the latest edition, by Robert C. Feenstra and Alan M. Taylor
2. International Macroeconomics, the latest edition, by Robert C. Feenstra and Alan M. Taylor
3. Feenstra, R., 2004, Advanced International Trade: Theory and Evidence, Princeton University Press.
Assignments: 10 Marks
Quizzes & Class Participation: 10 Marks
Mid Term Exam: 30 Marks
Final Term Exam: 50 Marks
Monday, Tuesday, Wednesday
11am-12pm (Regular), 3pm-4pm (Self support)