International Trade Theory

Title of the Course: International Trade Theory (국제무역론)

Instructur: Lee, Hyun-Hoon

Office: Business Bldg Room 1313 (Phone: 033-250-6186, Mobile: 010-5371-6186, Email: hhlee@kangwon.ac.kr)

Class Hours:  Mon (10:30 - 11:50, BB 1403), Thr (13:30 - 14:50 am, BB 1403)
                   

Evaluation: Mid-term Exam (40%), Final Exam (40%), Attendance (10%), Quiz (5%), Participation (5%)

Outline of the course: The main objective of this course is to study a comprehensive, up-todate, and clear exposition of the theory of international trade so as to understand the basis for and the gains from trade. In particular, we study the traditional models of Ricardo and Heckscher-Ohlin, and the new trade models based on  imperfect competition with increasing returns to scale. Based on the sound understanding of the trade theory, we also explore the effects of trade restrictions on a nations' welfare.

Textbook: Salvatore, Dominick, International Economics, 10th edition, John Wiley & Sons, 2010.

Also the student is required to read newspapers such as 한국경제신문 etc.

Note: The lecture notes attached below each chapter are the ones prepared with the 7th edition. We will update the lecture notes later.

   Week                   Contents

   1                  Chapter 0. Introduction

                       Chapter 1. Introduction  

Lecture notes  (new)

Quiz 1

   2                   Chapter 2. The Law of Comparative Advantage

Lecture notes

Quiz 2

   3                   Chapter 3. The Standard Theory of International Trade

                        Lecture notes

                        Quiz 3

                        Reference 1: HRI Report on Comparative Advantage of Korea

   4                   Chapter 4. Demand and Supply, Offer Curves, and the Terms of Trade

                        Lecture notes

                        Quiz 4

   5                   Chapter 5. Factor Endowments and the Heckscher-Ohlin Theory

                        Lecture notes

                        Quiz 5

   6                   Chapter 5. Factor Endowments and the Heckscher-Ohlin Theory

   7                   Review  and Mid-term Exam (2004)

                                          Mid-term Exam (2005)

                                          Mid-term Exam (2006)

                                          Mid-term Exam (2007)

                                          Mid-term Exam (2008)

   8                   Chapter 6. Economies of Scale, Imperfect Competition, and International Trade

                       Lecture notes

                        Quiz 6

                        Reference 2: Intra-industry Trade and Intra-firm Trade for OECD Countries, 2002

                        Reference 3: Intra-firm Trade for Korea, 2008

                        Reference 4: Development of De Facto Economic Integration in East Asian Trade, 2008 (by Hiromichi Ozeki)

                        Reference 5: Two-way Flows of Financial Assets and Their Implication for Financial Cooperation in East Asia,

   9                   Chapter 6. Economies of Scale, Imperfect Competition, and International Trade

  10                  Chapter 7. Economic Growh and International Trade (Skip)

  11                  Chapter 8. Trade Restrictions: Tariff

                       Lecture notes

                        Quiz 8

  12                  Chapter 9. Nontariff Trade Barriers and the New Protectionism

                       Lecture notes (new)

                        Quiz 9

  13                  Chapter 10. Economic Integration: Customs Unions and Free Trade Areas
                       Lecture notes

                       Recent Movements of Regionalism in Asia and the Pacific

                       EU and East Asian Regionalism

 

                       Chapter 11. International Trade and Economic Development

  14                  Chapter 12. International Resource Movements and Multinational Corporations

                       Lecture notes

                       Quiz 12

  15                  Reviw and Final Exam (2004)

                                       Final Exam (2005)

                                       Final Exam (2006)

                                       Final Exam (2007)

                                       Final Exam (2008)