Inhalt
Introduction and overview of world trade (Outline 1)
Describing a country´s pattern of trade in terms of balance of payments, international investment position, key trading partners, and key export and import sectors.
General introductory review of the causes and consequences of trade.
Brief review of the history and political economy of international trade.
Microeconomic theory important to the study of international trade (Outline 2)
Production and supply considerations
Preferences and demand theory
Surplus and welfare evaluation
Basic trade models I (Outline 3)
One-factor model with technological differences (“Ricardian” trade)
Two-sector model with multiple factors of production (“Specific factors”)
International factor mobility; labor mobility and migration
Basic trade models II (Outline 4)
Basic trade models III (Outline 5)
A “standard”, or general equilibrium, model of trade
Economic growth, trade and welfare effects
Terms of trade effects and welfare
“New” international trade theory (Outline 6)
External economies of scale and location of production
Models of imperfect competition and intra-industry trade
Topics in new trade theory
Instruments of trade policy (Outline 7)
Basic tariff analysis, export subsidies, quotas, non-tariff barriers
Effective rate of protection; infant industry and other arguments for protection
Industry protection and promotion
Political economy of trade (Outline 8)
History of globalization and protection
Some theory underlying the political economy of trade
Preferential trade areas; trade creation vs. trade diversion
Inter-temporal trade; International borrowing and lending (Outline 9)
General model of intertemporal trade; intertemporal comparative advantage
Conduits of borrowing and lending
International macroeconomic adjustment processes
Current issues in international trade (Outline 10)
Global imbalances
Competing models of development
Financial account liberalization and capital flows
Global governance of international trade
Assessment will be based on class attendance and ongoing Moodle tasks as well as a written exam and a short research paper.
Literatur
Krugman, Obstfeld, and Melitz. nternational Economics: Theory and Policy, 9th ed.. , 2012.
Rodrik, Dani. The Globalization Paradox: Democracy and the Future of the World Economy. , 2011.
