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Lecture Notes In International Trade Theory: Classical Trade And Applications (Hardcover)
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Lecture Notes In International Trade Theory: Classical Trade And Applications (Hardcover)
Series: World Scientific Lecture Notes In Economics And Policy, 10
Expected to ship within 10 - 15 working days
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Lecture Notes in International Trade Theory covers classical
international trade models (including the Ricardian, Ricardo Viner,
and Heckscher-Ohlin-Samuelson models). The course is designed for
M.Sc. and first year PhD students. It relies on both graphical and
analytic methods, requiring only intermediate microeconomics and a
solid grounding in calculus. The material emphasizes 'second-best'
settings, where markets are imperfect. The goal is to equip
students with a good enough understanding of open-economy general
equilibrium relations that they understand how distortions ripple
across different markets, e.g. commodity and factor markets. The
Author applies these ideas to environmental and natural resource
problems, including pollution 'leakage' (where pollution reductions
in one country are offset by trading partners' increased pollution)
and imperfect property rights. Other applications include the
general equilibrium effects of commodity and trade taxes,
international transfers (the 'transfer problem'), minimum wage
constraints, and immiserizing growth. The Author assumes that
students have some experience in formulating and answering
comparative statics questions in an optimization setting. Building
on these skills, and developing the idea of stability in an
equilibrium setting (the Marshall Lerner condition), students learn
how to formulate and answer comparative static questions in trade
models.
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