ECON 166: International Trade

Course Description

This course examines the causes and consequences of international trade. Why do countries trade? What determines the goods that a country exports and imports? Do countries as a whole gain or lose from trade? Is a trade deficit or surplus a cause for concern? Do some people or groups within countries gain or lose from trade? What are the arguments for and against protectionist trade policies such as tariffs? Is there a rationale for a World Trade Organization (WTO)? What are the implications of rapid economic growth in emerging markets (e.g., China) for income and welfare in already-developed countries such as the United States? What were the local labor market consequences of the China shock? Should governments use activist trade and industrial policies? What is the future of the global trading system? Prerequisite: ECON 51 (Public Policy majors may take PUBLPOL 51 as a substitute for ECON 51).