International Trade

The course will cover the law of comparative advantage, the gains from trade, the Ricardian model, factor intensity and factor abundance, the Heckscher-Ohlin theory, factor-price equalization, standard and alternative trade theories, product differentiation and intra-industry trade, technological gaps and product cycles, trade and economic development, import substitution versus export orientation, tariff and non-tariff barriers, theory of effective protection, instruments and impacts of trade policy, economic integration, customs unions and free trade areas, international factor movements, and multinational corporations.