Course overview
This course covers the high-level theoretical and contemporary econometric tools necessary to understand, analyse, and evaluate recent empirical and theoretical research in international trade. The course deals with the theory and practice of international trade and of trade-related policies. It focuses on the advanced analysis of topic such as; the gains from trade, the changing patterns of trade, the income distributional consequences of liberalising foreign trade, the relationship between trade, investment, and economic growth, and the reasons for and consequences of various trade policies.
Course learning outcomes
- Demonstrate formal analysis of key models of international trade, and distinguish between them in relation to assumptions, outcomes and economic implications.
- Identify and apply appropriate partial and/or general equilibrium models to analyse the economic effects of contemporary trade policies.
- Distinguish and critically analyse arguments for trade protection and free trade, including heterogeneity of outcomes within and across societies.
- Identify and critically evaluate recent developments in the world trading system.
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