This International Economics course covers a wide range of topics essential for understanding global trade and monetary policies. It aims to provide insights into why countries and firms engage in international trade, exploring the patterns and implications of such interactions.
The course includes the following key topics:
The course will utilize video and web-based lectures to facilitate learning.
This module introduces the foundational concepts of international economics, exploring the empirical facts of international trade and their explanations. Students will gain insights into the significance of international trade, examining why countries and firms engage in trade and the patterns that emerge. The module also covers the globalization process, analyzing both its costs and benefits.
Through this introduction, students will begin to understand the complex dynamics of global trade and the economic theories that explain these phenomena.
This module delves deeper into the theories of trade, covering offer curves, community indifference curves, and trade indifference curves. Students will study the terms of trade and the Marshall Lerner condition for stability, enhancing their understanding of the Ricardian model of trade and its extensions. Additionally, the module contrasts mercantilist views with Adam Smith's trade model, providing a comprehensive overview of historical and contemporary trade theories.
Through detailed analysis, students will develop a nuanced understanding of how these theories apply to modern trade practices.
Focusing on specific trade models, this module explores the relationship between trade and income distribution. Students will investigate the impact of production under autarky and delve into the Heckscher-Ohlin-Samuelson model, along with the Stopler-Samuelson and Rzybnzski theorems. The module also covers the factor price equalization theorem and the effects of technological progress on trade.
These concepts are crucial for understanding how trade policies can influence income distribution and economic development.
This module extends the Heckscher-Ohlin model by examining Posner and Vernonâs theories on changing comparative advantage. Students will learn about Linderâs hypothesis and the Heckscher-Ohlin-Vanek theorem, gaining insights into how comparative advantage evolves over time.
The module also includes empirical testing of trade theories and an analysis of the Leontief Paradox, providing students with tools to critically assess the validity of various trade models in the real world.
This module introduces the Melitz New New Trade Theory and its implications for international factor movements. Students will explore theories of foreign direct investments (FDI) and foreign institutional investment, along with the concept of FDI spillovers.
Through this analysis, students will understand the role of multinational corporations in global trade and how FDI impacts host countries' economies, affecting factors such as technology transfer and economic growth.
In this module, students will study the economic analysis of trade policies, including tariffs, quotas, export subsidies, and voluntary export restraints (VERs). The module examines arguments for trade barriers and methods for measuring protection, providing a comprehensive understanding of how trade policies influence global and domestic markets.
The political economy of trade policy is also explored, offering insights into how governments balance trade interests with foreign capital and welfare considerations.
This module focuses on the relationships between trade, growth, development, inequality, and poverty. Students will investigate how trade can drive economic growth and development while also exacerbating or alleviating inequality and poverty.
The module includes a critical analysis of the World Trade Organization (WTO) and its provisions, assessing the impact of the WTO on the trade and development of developing countries.
This module covers balance of payments (BOP), balance of trade, and official reserves, exploring issues such as BOP deficit and surplus and the gold standard. Students will learn about different approaches to exchange rate determination, gaining an understanding of international monetary theories.
The module provides insights into the complexities of international financial systems and the challenges of maintaining economic stability in a globalized world.
Students in this module will explore international monetary policies and reforms in the international financial system. The module discusses policies for mitigating financial crises, along with models of currency, banking, and balance of payments crises.
Through this exploration, students will understand the importance of robust monetary policies in preventing financial instability and promoting sustainable economic growth.
This module examines economic integration and the regionalism versus multilateralism debate. Students will analyze the benefits and challenges of economic integration, gaining insights into how regional agreements and multilateral organizations shape global trade dynamics.
The module provides a comprehensive overview of how economic integration can enhance trade efficiency while also posing potential risks to national economies.
This module explores open economy macroeconomics and the interdependence of economies. Students will study how open economies function and interact, focusing on trade gains and the distribution of income.
The module also covers the impact of trade on endogenous growth, providing students with a comprehensive understanding of how interconnected economies drive global growth and development.
This module discusses the complex relationships between trade, the environment, labor, and intellectual property rights (IPR). Students will analyze how trade policies affect environmental sustainability, labor markets, and the protection of intellectual property.
By examining these interconnected issues, students will gain insights into the challenges and opportunities of crafting trade policies that balance economic growth with social and environmental considerations.
This module covers trade in tasks, outsourcing, and the General Agreement on Trade in Services (GATS). Students will explore how globalization has transformed the nature of work, leading to the fragmentation of production processes and the rise of global value chains.
The module provides a comprehensive understanding of how these trends affect international trade, labor markets, and economic development.
This module examines reserves, debt, and risk, focusing on hedging techniques used to manage financial risks. Students will learn about the role of reserves in maintaining economic stability and the impact of debt on national economies.
Through this analysis, students will gain insights into the strategies employed by countries to minimize financial risks and ensure sustainable economic growth.
This module explores economic expansion and its relationship with trade. Students will analyze how trade can drive economic expansion and the factors that influence this process.
The module also covers international technology transfer, trade, and migration, providing insights into how these elements contribute to economic development and global integration.
Dive into international economics with this module focused on the empirical facts of international trade. Understand the foundational data and evidence that inform trade theories and policies. Examine key trends, patterns, and anomalies in global trade activities. This module sets the stage for exploring why and how countries engage in trade, backed by empirical research.
Explore the complex process of globalization, delving into its myriad costs and benefits. This module examines how globalization influences economic relationships, trade, and development across nations. Discuss the impacts of globalization on various sectors, including technology, labor, and the environment, and analyze how countries can navigate these changes to maximize benefits while minimizing adverse effects.
This module delves into classical and modern trade theories, covering various models and concepts such as offer curves, community indifference curves, and terms of trade. Understand the nuances of the Ricardian model, mercantilist views, and Adam Smith's trade model. Learn about the conditions necessary for trade stability and how these theories apply to real-world economic scenarios.
Focus on the specific trade model and its implications for income distribution within nations. Learn how trade affects the allocation of resources and income across different sectors and demographics. Analyze how trade policies can influence income inequality and explore strategies for achieving more equitable economic outcomes through trade.
Delve into production dynamics in autarky and the Heckscher-Ohlin-Samuelson model. Understand key theorems like Stopler-Samuelson and Rzybnzski, and the concept of factor price equalization. Examine the role of technological progress in trade and how it influences international economic interactions. This module provides a comprehensive overview of production and trade interrelations.
This module extends the Heckscher-Ohlin model, offering deeper insights into international trade dynamics. Explore the model's applications in modern trade scenarios and understand its limitations. Analyze how the model's assumptions hold up in todayâs global economy, and discuss potential modifications to align with contemporary trade practices.
Investigate the changing comparative advantage theories of Posner and Vernon. Understand how comparative advantages shift over time and the factors that drive these changes. Explore the implications of changing comparative advantages on international trade policies and economic development. This module provides a dynamic perspective on trade competitiveness and adaptation.
Explore Linderâs hypothesis on trade patterns and preferences, focusing on how similar demand structures influence trade between countries. Analyze empirical evidence supporting Linder's hypothesis and its applications in contemporary trade relations. This module provides insights into the demand-side factors that shape international trade dynamics.
Study the Heckscher-Ohlin-Vanek theorem and its implications for trade and resource allocation. Understand how this theorem extends traditional trade models to account for factor endowments and international trade patterns. Analyze empirical studies testing the theorem and discuss its relevance in modern economic contexts.
Examine the empirical testing of trade theories, including the analysis of the Leontief Paradox. Understand how empirical evidence challenges or supports classical trade theories. This module provides a critical perspective on the application and validation of trade theories in real-world economic scenarios.
Explore the Melitz New New Trade Theory, focusing on firm-level trade dynamics and heterogeneity. Understand how firm-level differences influence international trade patterns and economic outcomes. Analyze the implications of this theory on trade policy and economic development, offering a modern perspective on trade theory application.
Understand international factor movements and the theories of foreign direct investments (FDI) and foreign institutional investment (FII). Analyze FDI spillovers and their impact on host and home countries. This module explores the dynamics of capital flows and their implications for global economic interactions and trade policies.
Examine trade policies, focusing on the economic analysis of tariffs, quotas, export subsidies, and voluntary export restraints (VERs). Understand arguments for trade barriers and methods for measuring protection. This module provides insights into the political economy of trade policy and its impact on economic welfare and development.
This module explores the relationship between trade, growth, development, inequality, and poverty. Understand the complex interplay between these factors and how trade policies can influence economic development outcomes. Analyze case studies and empirical evidence to assess the impact of trade on social and economic parameters.
Understand the role of the WTO and its provisions and their impact on trade and development, particularly in developing countries. This module examines the balance of payments, trade balances, and international monetary theories. Discuss the implications of WTO policies and international monetary reforms on global trade stability.
This module introduces the empirical facts of international trade, providing a comprehensive overview of key statistics and trends. Students will explore:
The aim is to equip students with an understanding of how these empirical facts explain the dynamics of international trade.
This module focuses on the globalization process, examining both its costs and benefits. Key topics include:
Students will analyze case studies to understand how globalization affects different stakeholders.
This module covers various trade models and theories that explain international trade dynamics. Key concepts include:
Students will engage with theoretical frameworks and their applications to real-world trade scenarios.
This module discusses the specific trade model and its implications for income distribution. It covers:
Students will critically analyze how trade policies can influence the distribution of income within and between countries.
This module explores various production theories under autarky and the Heckscher-Ohlin-Samuelson model. Topics include:
Students will learn how these theories explain the allocation of resources in international trade.
This module examines extensions of the Heckscher-Ohlin model, enhancing the understanding of trade patterns. Key topics include:
Through critical analysis, students will explore how these extensions modify traditional theories of international trade.
This module covers Posner and Vernon's changing comparative advantage theories, highlighting their relevance in modern trade. Key aspects include:
Students will explore how these theories adapt to a rapidly changing global economy.
This module discusses the Heckscher-Ohlin-Vanek theorem, which extends the Heckscher-Ohlin model. Key topics include:
Students will analyze how this theorem contributes to the understanding of international trade theory.
This module focuses on the empirical testing of trade theories, including the famous Leontief Paradox. Key topics include:
Students will engage in critical analysis of empirical research in the field of international economics.
This module covers the Melitz New New Trade Theory, which emphasizes firm-level heterogeneity in trade. Key discussions include:
Students will analyze how this theory reshapes traditional views of international trade.
This module discusses international factor movements, including Foreign Direct Investments (FDI) and Foreign Institutional Investments (FII). Key topics include:
Students will explore the significance of these movements in shaping global economic dynamics.
This module covers trade policies, analyzing economic implications of tariffs, quotas, export subsidies, and Voluntary Export Restraints (VERs). Key discussions include:
Students will critically assess how these policies affect trade dynamics and economic welfare.