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International Trade

ECON 271
Spring 2011 not offered
Certificates: International Relations

Is trade beneficial to a country? Why do countries export certain goods and import certain other goods? Why do countries sometimes import and export the same goods? What is the relationship between trade and income distribution? If free trade is good, why do countries keep using protectionist policies? These are some of the questions that we will explore in this course. For that purpose we will rely heavily on the microeconomic analysis of a series of trade models. Starting with the traditional Ricardian specific factors, and Heckscher-Ohlin models, we then examine what happens when we relax some assumptions, for example, by allowing for scale economies or externalities. After making a more-or-less strong case for free trade, we then turn to the question of why countries use protectionist trade policies. After taking this course the student will gain an appreciation of why the free-trade-vs.-protectionism debate is so very much alive today, as it was 200 years ago.

Essential Capabilities: None
Credit: 1 Gen Ed Area Dept: SBS ECON
Course Format: LectureGrading Mode: Student Option
Level: UGRD Prerequisites: ECON101 OR ECON110
Fulfills a Major Requirement for: (ECON)

Last Updated on MAR-21-2023
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