Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.

LEARNING OUTCOMES

The course introduces the students to international trade theory and applied (empirical) trade economics at the level required for applied economists. It also provides a basic foundation of knowledge in international trade theory for more advanced PhD level courses.

Credits: 6

Schedule: 01.11.2021 - 16.12.2021

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Juuso Välimäki, Marika Viertola

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English

CONTENT, ASSESSMENT AND WORKLOAD

Content
  • valid for whole curriculum period:

    This course studies the determinants and effects of international trade and investment. We start with the classical models of trade theory, including the Ricardian theory of comparative advantage and the Heckscher Ohlin model. We then cover more modern trade models that incorporate economies of scale and imperfect competition. When presenting each theoretical model, we examine how they fare relative to the data, and contextualize them with specific empirical examples. In the last part of the course, we examine trade policy. We study the effects of different types of trade policies and ask what would be the optimal trade policies. Time permitting, we will also discuss the effects of the COVID-19 pandemic on international trade.

     

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Examination, exercises, and class contribution.

Workload
  • valid for whole curriculum period:

    In total 160h, consisting of lectures and exercises and independent work.

DETAILS

Study Material
  • valid for whole curriculum period:

    Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2018). International trade: theory & policy. Pearson Education Limited.

    Feenstra, R. C. (2015). Advanced international trade: theory and evidence. Princeton university press.

    Other readings assigned during the course.

Substitutes for Courses
Prerequisites

FURTHER INFORMATION

Further Information
  • valid for whole curriculum period:

    Teaching Period:

    (2020, 2021) - No teaching

    (2021, 2022) - Autumn II


    Course Homepage: https://mycourses.aalto.fi/course/search.php?search=31E00500


    Registration for Courses: In the academic year 2021-2022, registration for courses will take place on Sisu (sisu.aalto.fi) instead of WebOodi.