NIFK14023U Advanced International Trade
MSc Programme in Agricultural Economics
MSc Programme in Agricultural Development
MSc Programme in Environmental and Natural Resource Economics
This course primarily covers the following topics. First, models seeking to explain the causes, patterns and consequences of international trade are presented. These include the Ricardian model, the HO model, the Specific Factors model and several new trade models featuring increasing returns and imperfect competition. Second, the theory of international trade policy, mainly the analysis of trade policy instruments under perfect and imperfect competitions, is introduced. Third, the institutions (such as the WTO and its various trade agreements) and the theory of international trade policy coordination are discussed. Last, we turn to topics specific to agricultural trade, agricultural trade policy, and coordinated reforms in agricultural trade policy at the regional, plural and multilateral levels.
This course provides rigorous theoretical analysis of
international trade, trade policy, and trade
agreements. Theoretical knowledge and analytical tools
developed in the course are then used to analyze real life policy
issues, especially in the areas of agricultural trade, trade policy
reforms, and the WTO.
After completing the course the student should be able to:
Describe the causes, patterns, and consequences of international trade according to various classical and new trade models
Identify and reflect on the differences and similarities among the assumptions and theoretical predictions of major trade models
Develop thorough and in-depth understanding of important trade policy instruments (such as tariffs, quotas and subsidies) as well as the theoretical framework underpinning the analysis of these instruments
Summarize the main theoretical literature in the political economy of international trade policy
Show overview of the institutions of international trade policy coordination and the theory behind it
Describe the main policy issues arising from multilateral agricultural trade negotiations
Compare and contrast different theoretical models of international trade and assess the suitability of these models in explaining observed international trade patterns and other related phenomena
Demonstrate the ability to conduct diagrammatically and algebraically simple partial and general equilibrium analyses of prevalent trade policy instruments
Integrate the insights from theoretical trade models, trade policy analysis and political economy arguments of trade policy, for the purposes of explaining the landscape of protectionism across different countries and industries
Develop coherent, structured and balanced opinions on ongoing debates in international trade, international cooperation, and globalization and be able to communicate these opinions both orally and in writing forms
Apply the theoretical knowledge and analytical skills acquired from the course to analyze relevant policy issues, esp. in the areas of agriculture trade, the WTO trade negotiations, and issues concerning developing countries and economic development
Textbook: Advanced International Trade: theory and evidence, by Robert Feenstra, Princeton University Press 2004 (most chapters).
Reference books and other reading materials from academic journals, books, and other sources are to be announced at the beginning of the teaching period.
- Theory exercises
- 7,5 ECTS
- Type of assessment
- Written examination, 3 hours under invigilationDescription of examination: The written exam will be based on the entire course curriculum and will last three hours.
- Exam registration requirements
Submission of two homework sets, with all questions in the homework sets answered; and making one oral presentation, based on the literature (typically a journal article, or a working paper, or a book chapter) assigned by the teacher.
- Written aids allowed
- Marking scale
- 7-point grading scale
- Censorship form
- No external censorship
one internal examiner
If 10 or fewer register for the reexamination the examination form will be oral. Otherwise like the ordinary.
If a student fails to meet the requirements for going to the exam, he/she can register for the re-examination, provided that: answers to the two homework sets and a paper copy of the power point presentation based on the assigned literature are handed in two weeks prior to the re-exam.
Criteria for exam assesment
The assessment will be conducted according to the learning outcomes specified in the section Learning outcome.