AU: 4.0
Programme: ECON(HSS)

The aim of this course is to provide students with an understanding of trade theory and policy. The course will cover the law of comparative advantage, the gains from trade, the Ricardian model, factor intensity and factor abundance, the Heckscher-Ohlin theory, factor-price equalization, standard and alternative trade theories, product differentiation and intra-industry trade, technological gaps and product cycles, trade and economic development, import substitution versus export orientation, tariff and non-tariff barriers, theory of effective protection, instruments and impacts of trade policy, economic integration, customs unions and free trade areas, international factor movements, and multinational corporations.