International Economics

This course develops an analytical framework for the theory and policy of international trade, with applications to contemporary global economic issues. It examines why countries trade, what determines patterns of trade, and how the gains from trade are distributed across consumers, workers, firms, industries, and countries. The course evaluates the welfare and distributional implications of trade policy—including tariffs, trade agreements, and trade disputes—using formal economic reasoning and empirical evidence. It also examines how globalisation can generate vulnerabilities for particular workers, firms, industries, and countries. The course typically also examines firm heterogeneity and export decisions. The course further examines selected open-economy macroeconomic topics, including exchange rate determination and the role of monetary and fiscal policy in an open economy, with an emphasis on interpreting evidence and assessing policy trade-offs.