A theoretical and applied approach to explaining the pattern of international trade and the effects of government interventions through international trade policy.
This paper introduces the main concepts relating to the international trading system and its institutions and reviews both traditional perspectives and important recent developments in international trade theory. Emphasis is placed on using theory to interpret trade data and to analyse the motivations behind existing trade policies and institutions. In particular, we aim to understand the welfare gains from trade, what accounts for observed patterns of trade and who benefits from various trade policies. Special attention is also given to protectionist trade policies and the political economy of protection, as well as the merits and drawbacks of bilateral trade negotiations.
|Paper title||International Trade|
|Teaching period||Second Semester|
|Domestic Tuition Fees (NZD)||$863.25|
|International Tuition Fees (NZD)||$4,276.80|
- ECON 201 or ECON 271
- Schedule C
- Arts and Music, Commerce, Science
- More information link
- View more information about ECON 302
- Teaching staff
Co-ordinator and Lecturer: Murat Ungor
- Most of the readings for this paper will come from: Robert C. Feenstra & Alan M. Taylor, International Trade 4th ed. (Worth Publishers, 2017)
- Graduate Attributes Emphasised
- Global perspective, Interdisciplinary perspective, Communication, Critical thinking,
View more information about Otago's graduate attributes.
- Learning Outcomes
- After completing the paper, the successful student will be able to:
- Determine the different advantages and costs of international trade from the various viewpoints of modern trade theory;
- Identify and interpret important links between the dominant trade theories, as well as their respective limitations;
- Apply modern trade theory in analysing related policy questions, including the effects of trade barriers and industry protection, and conditions that yield the highest potential gains from trade;
- Understand the structure and politics of international trade negotiations and associated institutions such as the WTO;
- Communicate relevant economic critiques of trade policy and identify many common nonsense arguments.