Economics

ECON3401International Economics: Trade3 ch (3C)

Introduces the theory of international trade. Topics include mercantilism, comparative advantage, gains from trade, terms of trade, factor endowment and industrial organization models of trade, income distribution effects of trade, international movements of capital and labour, protectionism, trade agreements and economic development.

Prerequisites: 3 ch of first-year microeconomics (ECON 1001, or ECON 1013, or ECON 1014) and 3 ch of first-year macroeconomics (ECON 1002, or ECON 1023, or ECON 1024), or ECON 1073. ECON 3013 recommended.