This course introduces undergraduate students to the basics of international economics and trade. To that end, selected basic models in international trade will be used to exam the causes and consequences of international trade, discuss their practical relevance, and apply them to questions of current interest to policy makers, business leaders and the general public. The basic issues that will be investigated are why nations trade, what they trade, and who gains from international trade. We will analyze countries' motives for regulating international trade, explore the effects of trade policy instruments on trade and the effects of such policies on economic welfare. We will present and discuss the role of international institutions such as the GATT, WTO, World Bank and IMF on developing and supporting trade relations between the various economies. In addition, the students will learn the meaning and application of instruments for quantitative assessments of trade. The aim of the class is to give students the necessary tools to read critically and understand discussions of past and current events in the world economy found in academic articles, as well as in the popular media such as The Economist magazine, The Wall Street Journal, Financial Times, Valor Econômico, among others.
- Docente: Heloisa Lee Burnquist