INTERNATIONAL TRADE (4 Credits)

Learning Outcomes:

On successful completion of this course, student will be able to: Explain principal and supporting theories in international trade; Apply theoretical models of international trade in analysing real-world trade problems through qualitative and quantitative analysis; Apply theoretical models of international trade in implementing trade policies through qualitative and quantitative analysis.

Topics:

1. Introduction : What is international economics about?;
2. International Trade : Patterns of Trade;
3. World Trade: An Overview – Who Trades with Whom?;
4. World Trade: An Overview – What Do We Trade?;
5. Labor Productivity and Comparative Advantage: The Ricardian Model-1;
6. Labor Productivity and Comparative Advantage: The Ricardian Model-2;
7. Specific Factors and Income Distribution : Introduction;
8. Specific Factors and Income Distribution : International Labor Mobility;
9. Resources and Trade: The Heckscher-Ohlin Model : Introduction;
10. Resources and Trade: The Heckscher-Ohlin Model : Resources and Output;
11. The Standard Trade Model : Preview;
12. The Standard Trade Model : The Welfare Effects of Changes in the Terms of Trade;
13. The Standard Trade Model : Import Tariffs and Export Subsidies;
14. The Standard Trade Model : International Borrowing and Lending;
15. External Economies of Scale and the International Location of Production-1;
16. External Economies of Scale and the International Location of Production-2;
17. Firms in the Global Economy: Export Decisions, Outsourcing, & MNE-1;
18. Firms in the Global Economy: Export Decisions, Outsourcing, & MNE-2;
19. Firms in the Global Economy: Export Decisions, Outsourcing, & MNE-3;
20. Firms in the Global Economy: Export Decisions, Outsourcing, & MNE-4;
21. The Instruments of Trade Policy: Preview;
22. The Instruments of Trade Policy: Import Quota;
23. The Political Economy of Trade Policy : Preview;
24. The Political Economy of Trade Policy : Median Voter;
25. Trade Policy in Developing Countries : Developing countries;
26. Trade Policy in Developing Countries : Trade Liberalization.