BEC 2300 International Trade Theory and Practice

Instructor

Amanda Herath

Lecturer

Master of Global Economy and Strategy (Yonsei, South Korea), BBA (Business Economics, Colombo)

Reviews (1)

N.W.H Rvihari

Overview

Course Outline

Name of the Course- International Trade Theory and Practice

Course Code- BEC 2300

No of Credits – Three (03)

Course Facilitators-   Ms.H.M.S.Amanda N. Herath                              

Objective of the course-

  • To improve the knowledge of students on importance of international trade.
  • Impart an understanding of trade theories and international trade policies.

Learning Outcomes-   At the end of the course students will be able to;

  • Explain major economic theories of international trade.
  • Analyze their application to real world scenarios.
  • Explain various policy tools adopted by governments to address international trade.
  • Discuss the international political economy of international trade and its impact on developing countries.

Pedagogical Methods- Classroom lectures, discussions, case studies, assigned readings via online platform

Assessment Method -   Continuous Assessment – 30%

  • In–class Quizzes (2 marks x5) – 10%
  • Group Presentation – 20%

Semester End Examination – 70%           

Course Contents-

Part I- International Trade Theory

1. Introduction and Overview

2. Mercantilism, Absolute Advantage and Comparative Advantage

3. Heckscher-Ohlin Theory (Factor-Proportions Theory)

    Stolper-Samuelson Theorem

    Leontief Paradox

4.  Modern Trade Theories

  • International Product Life Cycle
  • Theory of Overlapping Demand
  • Porter’s Diamond Theory of National Competitive Advantage
  • The Gravity Equation

5. International Factor Movements

  • International movement of Capital (FDI)
  • International movement of Labour
  • International movement of Enterprenuership

Part   II- International Trade Policy

6. The Instruments of Trade Policy

  • Tariff Analysis
  • Other Instruments of Trade Policy (Non-tariff Barriers)

7.The Political Economy of Trade Policy

  • Free Trade
  • Protectionism and National Welfare Arguments    

8. WTO and International Negotiations and Integration

9. Trade Policy in Developing Countries

10. Concluding Session

 

Recommended Text-

Krugman,P.R, Obstfeld,M. (2009).International Economics;Theory and Policy, (8th Ed), Pearson Education,Inc.

Carbaugh, Robert J., (2009), International Economics (12th Ed), South-Western Cengage Learning.

Course content

  • Trading Under Increasing Opportunity Cost

  • Factor Endowment Theory

  • International Product Life Cycle (IPLC)

  • National Competitive Advantage

  • Trade Integration and WTO

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