International Trade I (Theory and Policy)

The act of exchange underpins all of economics. Trade which crosses international borders is a simple extension of this principle. In this course we will consider the three major 'waves' of theories used to explain trade between countries, industries and firms, and the empirical evidence which led to major theoretical advances in trade theory. We will also discuss a number of important trade topics which have been investigated empirically. This theoretical background and empirical research will be used to design a trade policy strategy as an assignment for the course.

Anticipated learning outcomes:

  • Understand different theoretical explanations for why countries, industries and firms engage in international trade;
  • Be able to discuss the assumptions which underlie these different theories and thus determine when they are appropriate tools for understanding trade;
  • Be familiar with the main empirical work which led to the development of these theories and/or provides support for them;
  • Be able to discuss and comment on current issues in international trade research;
  • Apply the concepts developed in the course to trade policy.

Twelve topics will be covered. Classes will generally alternate between theory, usually a lecture, and applied topics, usually class presentations.

Course instructors: Neil Rankin and Cecilia Punt

Work programme

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BER Weekly

18 September 2017
Data reported on the domestic economy last week covered the current account balance for Q2, as well as retail and wholesale sales in July. Accordingly, SA registered its third consecutive trade surplus in the second quarter. Despite this improvement on the back of higher commodity prices, transfer payments to the Southern African Customs Union (SACU)...

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Upcoming Seminars

No seminars are currently listed. Please check back soon.
 
More...

BER Weekly

18 September 2017
Data reported on the domestic economy last week covered the current account balance for Q2, as well as retail and wholesale sales in July. Accordingly, SA registered its third consecutive trade surplus in the second quarter. Despite this improvement on the back of higher commodity prices, transfer payments to the Southern African Customs Union (SACU)...

Read the full issue