Introduction to International Trade
If you are a manufacturer, importer, exporter or a consumer, international trade affects you. This course shows how such trade has an impact on the economy.
This certificate course in international trade will give you a broad view of what international trade entails as well as the important factors that affect it. It will help you understand how countries of the world participate in foreign trade and the factors that affect a country’s decisions when trading internationally.
What You Will Learn In This Free Course
Trade Issues: History, Institutions, and Legal Framework
In this module, you will be introduced to International trade and will learn about some of the very important aspect of this subject matter. This module will help you learn about the history of international trade, the legal framework involved in it and the different institutions that help drive international trade.
The Ricardian Theory of Comparative Advantage
This module presents the first formal model of international trade: the Ricardian model. It is one of the simplest models, and still, by introducing the principle of comparative advantage, it offers some of the most compelling reasons supporting international trade. Learners will learn some of the surprising outcomes of the Ricardian model.
The Pure Exchange Model of Trade
The pure exchange model develops a simple story: What if one person who possesses one type of good meets up with another person who possesses another type of good? What could we say about two people trading apples for oranges? Having looked at the Ricardian model, this model will give you another perspective of trade.
Economies of Scale and International Trade
One important motivation for international trade is the efficiency improvements that can arise because of the presence of economies of scale in production. In this module, we will be looking at how economies of scale can affect international trade.
Factor Mobility and Income Redistribution
This module continues the theme of income redistribution as a consequence of international trade. The focus here is the effect of factor immobility. This module asks, ?What happens if free and costless factor mobility does not hold?? The answer is provided by the results of the immobile factor model.
Course assessment
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