Course overview
This postgraduate course provides students the tools necessary to understand, analyze, and evaluate recent empirical and theoretical research papers in international trade. This requires strengthening the students' knowledge of trade theory as well as econometric techniques commonly used in international trade. Besides classic trade theory, the course also covers the '(new) new trade theory' which focuses on the role of monopolistic competition and firm heterogeneity in shaping international trade patterns. Special emphasis will be put on empirical and policy-related aspects of international trade.
Course learning outcomes
- Describe the most important theories used in the academic literature to explain observed trade patterns using formal mathematical analysis.
- Sketch the interaction between different stylized facts of international trade patterns and the development of theories which try to explain these stylized facts.
- Apply trade theories to describe the effects of trade liberalization policies and to critically evaluate current trade policy discussions.
- Identify and reflect upon the individual contributions of important research papers in international trade and constructively criticize their shortcomings.
- Have improved their communication skills through presenting their work and by interacting during tutorial sessions and discussions in class.
- Describe the most commonly used econometric techniques in current international trade research.