Week 1-2: Introducing International Trade Theory, Law of Comparative Advantage
We will discuss the meaning and importance of globalization, the relationship between international trade and the nation’s standard of living, regional and international trade, and describe the subject matter (trade and monetary aspects) of international economics. Discuss absolute and comparative advantage theories. We will discuss and show the basis and the gains from trade with constant opportunity costs.
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Course Material
- Week 1-2: Introducing International Trade Theory, Law of Comparative Advantage
- Week 3-4: The Standard Theory of International Trade, Offer Curves, and the Terms of Trade
- Week 5-6: Factor Endowments and the Heckscher–Ohlin Theory
- Week 7-8: Economies of Scale, Imperfect Competition, Economic Growth and Trade
- Week 9: Mid Term Exam
- Week 10-11: Trade Restrictions: Tariffs, Nontariff Trade Barriers, and the New Protectionism
- Week 12-13: Economic Integration, TOT, Trade & Economic Development, WTO
- Week 14-15: The Balance of Payments, Foreign Exchange Markets, and Exchange Rates
- Week 16-17: Open-Economy Macroeconomics: Adjustment Mechanisms and Policies
- Week 18: Final Term Exam
- Chapters 10
- Department Economics
- Teacher
Dr. Jabbar Ul Haq
