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International Trade

  • Teacher(s):   E.Milet  
  • Course given in: English
  • ECTS Credits: 6 credits
  • Schedule: Autumn Semester 2021-2022, 4.0h. course (weekly average)
  •  sessions
  • site web du cours course website
  • Related programme: Master of Science (MSc) in Economics
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Objectives

Course content and objectives:

Why do countries trade? Who are the winners and losers of globalization? What is the role of the WTO? Do special interests shape trade policies? Do "mega-regionals" like TTIP or the TPP make a difference? Does trade with China destroy manufacturing jobs? Can we economists make sense of the recent public backlash against trade liberalization?

The course covers virtually all topics related to international trade: the nature of specialization and trade patterns, the impact of openness on welfare and labor markets, the impact of trade policies, the business strategies in a global economy (outsourcing, FDI…), the location decisions of firms and the dynamics of spatial agglomeration.

Emphasis is placed on the importance of taking into account the different market structures to describe the pattern of trade and the consequences of globalization.

Contents

1- Introduction

2- Ricardo's idea of comparative advantage

3- Ricardo-Viner: The specific factors model

4- Heckscher-Ohlin's idea of comparative advantage

5- Trade policy and lobbying

6- WTO

7- New trade theory: the role of firms

8- "New new" trade theory: the role of firm heterogeneity

9- Offshoring

10- Trade and the labour market

11- Various topics: fair trade, boycott, environment

References

The course is based almost exclusively on academic articles. Useful textbooks include:

Feenstra R., Advanced International Trade: Theory and Evidence, Princeton University Press

Pre-requisites

Basic knowledge in microeconomics and econometrics

Some knowledge in international trade (e.g. 5 first chapters of Krugman, Obstbefld and Melitz textbook "international economics").

Evaluation

First attempt

Exam:
Written 2h00 hours
Documentation:
Allowed
Calculator:
Allowed
Evaluation:

Written exam (75%). During the semester: presentation of additional material, work based on exam-type questions, and participation (25%).

Retake

Exam:
Written 2h00 hours
Documentation:
Allowed
Calculator:
Allowed
Evaluation:

Written exam, 2hours, closed-book



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