Advanced International Trade

This course provides rigorous theoretical analysis of international trade, trade policy, and trade agreements. Theoretical knowledge and analytical tools developed in the course are then used to analyze real life policy issues, especially in the areas of agricultural trade, trade policy reforms, and the WTO.

After completing the course the student should be able to:

Knowledge:

Describe the causes, patterns, and consequences of international trade according to various classical and new trade models

Identify and reflect on the differences and similarities among the assumptions and theoretical predictions of major trade models

Develop thorough and in-depth understanding of important trade policy instruments (such as tariffs, quotas and subsidies) as well as the theoretical framework underpinning the analysis of these instruments

Summarize the main theoretical literature in the political economy of international trade policy

Show overview of the institutions of international trade policy coordination and the theory behind it

Describe the main policy issues arising from multilateral agricultural trade negotiations


Skills:

Compare and contrast different theoretical models of international trade and assess the suitability of these models in explaining observed international trade patterns and other related phenomena

Demonstrate the ability to conduct diagrammatically and algebraically simple partial and general equilibrium analyses of prevalent trade policy instruments

Integrate the insights from theoretical trade models, trade policy analysis and political economy arguments of trade policy, for the purposes of explaining the landscape of protectionism across different countries and industries


Competencies:

Develop coherent, structured and balanced opinions on ongoing debates in international trade, international cooperation, and globalization and be able to communicate these opinions both orally and in writing forms

Apply the theoretical knowledge and analytical skills acquired from the course to analyze relevant policy issues, esp. in the areas of agriculture trade, the WTO trade negotiations, and issues concerning developing countries and economic development