Econ452_Syllabus - SYLLABUS Economics 452 - International...

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SYLLABUS Economics 452 - International Trade: Summer II - 2010 MTWRF, 12:00pm to 1:35pm, 1006 – Allen Building Introduction International trade should not matter only to policymakers or entrepreneurs; it should matter also to any citizen around the world. For example, goods that we daily consume are imported from different countries, many jobs depend on competition rules between domestic and foreign industries, macroeconomic policies and political environment between countries might be affected by diverse international trade policies. Particularly, during these days we have seen how macroeconomic policy in China is being affected by recent USA’s international trade policies towards China. Objectives This course should enhance each student’s ability to make informed decisions involving international economic issues from the standpoint of rigorous microeconomic analysis. Lectures will emphasize the theory needed to hold clever discussions of international trade issues. Content This course will develop two main ideas: international trade stems from comparative advantage, and countries gain from trading with each other. While countries as a whole are better off under free trade than they would be in the absence of trade, some individuals are hurt by international trade. This course will identify who is hurt and possible policy responses designed to ease adjustment to
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increased openness. Tariffs or other trade restrictions may be implemented to protect these groups at the expense of the overall economic wellbeing of the country and the world. This course also will examine the arguments that support for interventionist trade policies. Prerequisites
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This note was uploaded on 10/11/2011 for the course ECON 452 taught by Professor Baer,w during the Spring '08 term at University of Illinois, Urbana Champaign.

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Econ452_Syllabus - SYLLABUS Economics 452 - International...

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