International Trade Theory and Policy
The course covers international trade theory (classical, neoclassical and modern) and then proceeds to the study of international trade policy. The special issue of trade among developing countries is handled as a substantive portion of the course. The course maintains a perspective on the Caribbean.
The course will be taught in two main modules:
- Module A introduces students to the basic concepts and theories of international trade. It focuses on comparative advantage; the conditions under which mutually beneficial trade can occur between nations and offers explanations as to how such conditions might arise.
- Module B deals with international trade or commercial policies. It examines tariffs, the most important of the trade restrictions historically, extends the discussion to other trade restrictions, evaluates the justification usually given for trade restrictions, and summarises their history. It also deals with economic integration.