Consumers can walk into their local shops today and buy goods and services from all over the world. Local businesses must compete with these foreign products. However, many of these same businesses also have new opportunities to expand their markets by selling to a multitude of consumers in other countries. The advance of telecommunications is also rapidly reducing the cost of providing services internationally, while the Internet will assuredly change the nature of many products and services as it expands markets even further.
This course is a continuation in a more academic advanced manner focusing on the mechanisms of how international trade effects our lives and world on a daily basis. It's a key element in having a stronger understanding of global markets and how they are increasingly interwoven in modern system of business and commerce.
The course is outlined in the following 24 modules:
Chapter 1: Introduction
Chapter 2: The Ricardian Theory of Comparative Advantage
Chapter 3: The Pure Exchange Model of Trade
Chapter 4: Factor Mobility and Income Redistribution
Chapter 5: The Heckscher-Ohlin (Factor Proportions) Model
Chapter 6: Economies of Scale and International Trade
Chapter 7: Trade Policy Effects with Perfectly Competitive Markets
Chapter 8: Domestic Policies and International Trade
Chapter 9: Trade Policies with Market Imperfections and Distortions
Chapter 10: Political Economy and International Trade
Chapter 11: Evaluating the Controversy between Free Trade and Protectionism
Chapter 12: Introductory Finance Issues: Current Patterns, Past History, and International Institutions
Chapter 13: National Income and the Balance of Payments Accounts
Chapter 14: The Whole Truth about Trade Imbalances
Chapter 15: Foreign Exchange Markets and Rates of Return
Chapter 16: Interest Rate Parity
Chapter 17: Purchasing Power Parity
Chapter 18: Interest Rate Determination
Chapter 19: National Output Determination
Chapter 20: The AA-DD Model
Chapter 21: Policy Effects with Floating Exchange Rates
Chapter 22: Fixed Exchange Rates
Chapter 23: Policy Effects with Fixed Exchange Rates
Chapter 24: Fixed versus Floating Exchange Rates