AEM 230/ECON 230
Prof. David R. Lee
441 Warren Hall
International Trade and Finance
Course Outline and Readings
(Times devoted to each topic are approximate; * = required readings)
Introduction to Globalization, International Trade and Finance, and the Course
*Robert J. Carbaugh,
2007), Ch. 1:
International Economy and Globalization”
Basic Trade Concepts: Specialization, Comparative Advantage and the
Gains from Trade (2.0 weeks)
Ch. 2, “Foundations of Modern
Trade Theory: Comparative Advantage”;
Ch. 3, “Sources of
Comparative Advantage (section 3.1 optional);
Tariffs and Domestic Protection (1.5 weeks)
: Ch. 4, “Tariffs”; Ch. 6, "Trade
Regulations and Industrial Policies," pp. 181-185.
*E. Gresser, "Toughest on the Poor: America's Flawed Tariff System," Ch.
2, in P. King and S. King, eds.,
International Economics and
International Economic Policy
(4th ed., 2005), pp. 19-23.
G.C. Hufbauer and B. Goodrich, "Steel Policy: The Good, The Bad and the
Non-Tariff Trade Barriers (1.5 weeks)
: Ch. 5, “Nontariff Trade
Barriers”, and Ch. 6, “Trade Regulations and Industrial Policies,”
*R.C. Feenstra, “How Costly is Protectionism?” Ch. 1 in King & King, pp.
*M.A. Groombridge, "America's Bittersweet Sugar Policy," Ch. 5 in King
and King, pp. 46-54.