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 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.
Expected learning outcomes
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 in the areas of agriculture trade, the WTO trade negotiations, and issues concerning developing countries and economic development.
Lesson period: Second semester
(In case of multiple editions, please check the period, as it may vary)
The structure of international trade (F-T ch. 2-7; K-O-M ch. 2-7) 1. Technology and International trade: the Ricardian model 2. Gains and losses from international trade: the specific-factors model 3. Trade and resource endowment: the Heckscher-Ohlin model 4. Economies of scale and imperfect competition
International trade policy (F-T ch. 8-11; K-O-M ch. 9-12) 5. Tariff and quota under perfect competition 6. Export and production subsidies 7. International agreements on trade
Advanced topics (mainly through discussion of research papers) 8. The political economy of trade policy 9. Trade liberalization and productivity growth 10. Products quality and international trade
Recommended readings (Bibliography) 1. Feenstra R. C. e Taylor A. M. (2009), International Trade, Worth Publishers, New York (F-T) 2. Krugman P., Obstfeld M. and Melitz M.J. (2012). International Economics. Theory and Policy, Pearson (K-O-M) 3. Readings list suggested by the teacher
Assessment The exam consists of a written mid-term test plus a final oral examination. Students who do not achieve a minimum grade in the mid-term test, are required to bring the relative material to the final oral.
1. Feenstra R. C. e Taylor A. M. (2009), International Trade, Worth Publishers, New York (F-T) 2. Krugman P., Obstfeld M. and Melitz M.J. (2012). International Economics. Theory and Policy, Pearson (K-O-M) 3. Readings list suggested by the teacher