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International Trade Advanced Course

International trade and economics is growing in importance as a field of study because of the rapid integration of international economic markets. Increasingly, businesses, consumers, and governments realize that their lives are affected not only by what goes on in their own town, state, or country but also by what is happening around the world.

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