ECON 6 International Economics (3)
Credit, Degree Applicable
Introduction to the general principles, terminology, and methods of international economics, with emphasis on international trade. Examine several alternative models of international trade as well as foreign exchange markets, currency/financial crisis, globalization, unfair trade practices, regional integration, and the impact of trade on economic growth.
After successful completion of this course, students will be able to:
- Outcome 1: Define, discuss, and graphically analyze the concept of comparative advantage and its determinants.
- Outcome 2: Describe, apply, and evaluate the Ricardian and Heckscher Ohlin models of international trade, as well as other models of trade theory.
- Outcome 3: Calculate and interpret the gains from trade.
- Outcome 4: Summarize and evaluate the effects of international trade and international policies on economic welfare, domestic goods, and factor markets.
- Outcome 5: Discuss and evaluate the main arguments for trade restrictions including intervention in the exchange rate market
- Outcome 6: Compare and contrast the determinations of equilibrium exchange rates through the monetary approach and elasticities approach