Welcome to Econ-3613.

This is a summer course in international trade, offered by Saleh S. Tabrizy at the University of Oklahoma, Department of Economics.

The learning objective of this course is for students to learn how trade affects prices and the allocation of resources across countries, and how nations may gain or lose from trade. To do this, we start from classical models of trade. We then study a standard trade model. We continue with new trade models under increasing return to scale. And we conclude our survey by looking at the most recent models that describe firms’ export decisions and multinational production. We further examine selected trade policy instruments such as tariffs and quotas, and we study the welfare effects of such policies. To conclude this course, we examine a selected number of arguments for and against free trade. For more details, you may refer to the syllabus.

The basics

We begin this lecture series by exploring the current state of economic activities across different countries. This part of lecture is based on Chapter 1 in Husted and Melvin’s textbook.

We, then, continue with a survey of some analytical tools. This part of lecture is based on Chapter 2 in Husted and Melvin’s textbook.

The above-mentioned tools are useful in modeling international trade. We use those tools to survey two sets of models:

We conclude with this article about Stolper-Samuelson theorem.

Contemporary models

Given what we learned from classical and standard treatments of trade theory, we survey contemporary models:

We conclude this part with a survey of developments in multinational production. These concluding remarks are also based on Chapter 8 in Krugman, Obstfeld, and Melitz’s textbook.

Trade policy

The last part of this lecture series will focus on trade policy, including a brief survey of:

Assessment

There are two exams: a midterm and a final. Previous exam samples include the midterm exam for Summer 2016, the midterm exam for Summer 2017, and the final exam for Summer 2016. When it comes to final letter grade calculation, the exams have 80% weight. For a given student, 45% weight will be allocated to the exam with higher grade, and 35% weight will be allocated to the exam with lower grade. Your class participation grade contributes to the remaining of your final letter grade. For more, refer to the syllabus.