The Economics of International Trade

This course reviews seminal trade theories and empirical findings on this topic to tackle the following questions: Why do countries trade? What is the effect of international trade on the economic well-being of countries? Does trade liberalization benefit all economic agents or does it create winners and losers? Why do some firms decide to export, while others serve only the domestic market? What drives a multinational firm’s outsourcing and off- shoring decisions? Which instruments can policy-makers use to enhance (or restrict)trade, and what is the effect of these trade policies on economic welfare?

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