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SMU Module Review: ECON234 International Trade

This course examines the economic determinants of cross-country trade patterns and welfare properties of trade policies. We first introduce economic models that focus on cross-country differences (in technology, in factor endowment), imperfect competition, or increasing returns to scale as the rationale for trade and the consequences of opening to trade on national welfare and on income distribution within and across countries. We then examine the economic causes and effects of increasing trade in intermediate goods or services through international outsourcing and foreign direct investment. In the third component of the course, we examine efficiency properties of frequently used trade measures, the political economy of trade protection, and welfare effects of preferential trade liberalizations such as free trade agreements against the backdrop of multilateral trade liberalizations sponsored by the WTO.

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