CERTIFICATE IN CERTIFICATE IN INTERNATIONAL ECONOMY AND FINANCE

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CERTIFICATE IN CERTIFICATE IN INTERNATIONAL ECONOMY AND FINANCE -(C1134)

CERTIFICATE IN CERTIFICATE IN INTERNATIONAL ECONOMY AND FINANCE


CERTIFICATE IN INTERNATIONAL ECONOMY AND FINANCE

Course Syllabus

Introduction

  • Important issues in international trade
  • History and present state of world trade flows
  • Russian trade balance
  • History of the development of trade theory

 Essentials: Ricardo and Comparative Advantage

  • The Ricardian model of trade

·         Empirical evidence and policy results

 

 Factor Price Equalization and Trade

  • Hecksher-Ohlin model of trade
  • Stolper-Samuelson effects

·         Rybczynski effects

 Who Wins and Who Loses from Trade?

  • The “Specific Factors” model of trade
  • Redistribution aspect of trade policy

·         International experience

 Standard Trade Models and Country Welfare

  • Welfare comparisons across countries
  • Welfare comparisons within countries

 An Empirical Evaluation of Trade Patterns

  • Problems with the Hecksher - Ohlin model

·         Empirical evidence of trade theory

 Market Imperfections and Trade

  • Imperfect Competition and trade
  • Externalities and protectionism

·         Empirical evaluation of importance

 International Factor Movements

  • International Labor Mobility
  • International Capital Flows

·         Multinational Firms and Direct Foreign Investment

 Tariffs and Non-Tariff Barriers to Trade

  • Economics of Tariffs
  • Economics of Quotas

·         Protection and Imperfect Competition

 Government Intervention in Trade

  • Welfare arguments
  • Income Distribution

·         Optimum Tariff

 Strategic Trade Policies

  • Technology and Externalities

·         Imperfect Competition and Protection

 Development through Trade Policies

  • Import Substitution and Infant Industry argument
  • Export-oriented development strategies

·         The East Asian Miracle?

 Political Economy of Trade (optional, time permitting)

  • Pros and Cons of government intervention
  • Strategic trade policy
  • Median voter theorem
  • Theory of collective action
  • Politicians for sale (partial eqm analysis)

 World Trade Organization, Preferential Trading Arrangements, Custom Unions and Economic Integration

  • Free trade agreements, customs unions
  • Trade creation vs trade diversion
  • Trade policy in developing countries: import substitutions, export promotion
  • International negotiations: GATT, WTO, Doha round

 

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