After this class students should have a sound knowledge of the main theories of international trade, understand their empirical implications, and be able to apply them to real world issues and questions of economic policy relevance. The main part of the course focuses on models of international trade theory, dealing with the causes and consequences of trade and trade policy under perfect and imperfect competition. Based on these, several types of trade policies (tariffs, quotas, trade agreements, industry protectionism, ...) will be analysed in
detail, focusing on their e ects on welfare and equality under di erent economic environments. Various current and historic examples (USA-China trade war, WTO, NAFTA, ... ) will be used to motivate the presented concepts and support the understanding of the theories.

Topics that will be covered are:

• Stylized facts about world trade
• Myths surrounding trade and trade policy
• Why is there trade between different and between similar countries?
• Who are winners and losers from trade?
• What is the WTO and how does it influence trade?
• What are the tools of trade policy and how do they affect countries and firms?
• Why are there trade negotiations, free trade areas, customs unions and how do they work?
• How are trade disputes settled?
• Actions of governments that are faced with "unfair" trade practices such as dumping or export subsidies.
• Short overview of current topics such as Trade Wars, Brexit, TPP, etc.+

Attendance is mandatory but you may miss 2 units.

Classic lectures, one data assignment (home work), readings and discussion on current topics.

You can earn 100 points in total:

• 45 points on a final test
• 15 points on data assignment
• 20 points on quizzes (small written quiz on the topic of previous lessons)
• 20 points on short term paper and presentation on different (current) topics in international trade

• Applied Microeconomics: knowledge of different market forms, concepts of demand and supply, consumer and producer surplus
• International Macroeconomics would be advantageous: basic knowledge of the current account and institutions

Please feel free to get in touch with the lecturer via email. If you wish to meet personally, please ask for an appointment via email.