A review of fundamental topics in International Economics.
The gravity model.
The changing pattern of world trade.
Comparative advantage, a recall.
Comparative advantage with many goods.
Empirical evidence about the Ricardian model.
Specific factors and income distribution.
Income distribution and gains from trade.
The Hecksher-Ohlin model: some theory and empirical evidence.
The standard trade model.
Using offer curves to represent international equilibrium.
Growth in the standard trade model.
International borrowing and lending.
International transfers of income and the terms of trade.
External economies of scale and the international location of production.
Firms in the global economy.
The monopolistic competition model.
Basic concepts of trade policy.
The political economy of trade policy.
Trade policy in developing countries.
Globalization, wages and the environment.
National income accounting and the balance of payments
Exchange rate and foreign exchange markets
Money, interest rates, and exchange rates
Prices and exchange rates in the long run
Output and exchange rate in the short run
Foreign exchange intervention
International monetary systems
Financial globalization
Optimum currency areas
Developing countries: growth, crisis and reforms.


Essential reference for most topics is be the textbook “International Trade: Theory and Policy, Global Edition”, by Krugman, Obstfeld and Melitz, Pearson, 11th edition.

“International Trade: Theory and Policy, Global Edition”, by Krugman, Obstfeld and Melitz, Pearson, 11th edition