ECON 358 International Economics (Not offered 2008-2009)
Over the past decade and since World War II, the growth of world trade has significantly outpaced growth of real GDP to create an increasingly global marketplace. For a group of rapidly growing East Asian economies, the expansion of trade and the rise in the share of manufactured products in exports has been even more spectacular. This course will cover the theory and empirical analyses of the causes and consequences of international trade. Special attention will be focused on the relations between technology, trade, and economic growth. Topics covered will include trade and welfare, comparative advantage and its sources, the role of increasing returns and product differentiation, trade and economic growth, trade policy with and without market power, and foreign direct investment.
Format: lecture/discussion. Requirements: problem sets, a midterm, and a final exam.
Prerequisites: Economics 251 and 252. Enrollment limit: 25 (expected: 25).