Veranstaltungsdetails

Veranstaltungsdetails

Fundamentals of International Trade
SWS:
2
Dozierende:
Krautheim, Sebastian, Prof. Dr.
Veranstaltungstyp:
Vorlesung
Beschreibung:
Both theoretical and empirical research on international trade has surged in the last two decades. All these recent developments are deeply rooted in two fundamental and analytically very tractable models of international trade: the basic two-country-two-goods Ricardian model and the model by Krugman (1980). One of the main objectives of this course will be to put students in a position to solve these models analytically and to deepen their understanding of economic modeling in general.

While the (relatively simple) analytical solutions to the Ricardian and the Krugman model are derived in this course, the seminal papers that started the large and active recent literature in international trade (Eaton and Kortum, 2002, and Melitz, 2003) will be covered on an intuitive and graphical basis. This will be simple to do as they directly build on the Ricardian and the Krugman model. The analytical solutions to the advanced models of international trade, along with the literature they triggered, are the subject of the course “Advanced International Trade” usually offered in the summer term.

One key result of the Ricardian model of international trade is that everybody always gains from trade. This implication is strikingly at odds with reality – and is widely criticized and ridiculed in the public debate (often along with the whole economics profession). Starting from the question if this implies that the Ricardian model is a “bad” model and if models in economics can help to understand anything about the real world at all, we will learn more about how (not to) interpret the results of theoretical models in economics, how to judge their assumptions and implications and ultimately how to decide if a model (specifically, the Ricardian model) is “a good model” or not.

The theoretical focus of the course is complemented by a lecture on stylized facts on global trade and by a chapter on the gravity equation – the leading empirical tool in the analysis of international trade data. The empirical aspects of the course will be deepened and extended to state of the art empirical trade research in the course “Empirical International Trade” usually offered in the summer term.

List of topics:

1. Trade in the Global Economy
2. Trade and Technology: the Ricardian Model of Trade
3. Critical Assessment of the Ricardian Model of Trade
4. Modern Ricardian Trade Models: Dornbusch, Fischer and Samuelson (1977) and Eaton and Kortum (2002)
5. Increasing Returns to Scale and Monopolistic Competition: Krugman (1980)
6. Firm Heterogeneity in International Trade
7. Empirics of International Trade: the Gravity Equation
Ort:
(HK 14b) SR 017
Zeiten:
Di. 18:00 - 20:00 (wöchentlich)
Erster Termin:Di , 17.10.2017 18:00 - 20:00, Ort: (HK 14b) SR 017
Semester:
WS 17/18
Veranstaltungsnummer:
37010
Voraussetzungen:
Solid knowledge of undergraduate (Bachelor-level) Microeconomics is recommended.
Lernorganisation:
Lecture and exercise class are held in English.
Leistungsnachweis:
Written exam (90 minutes + 10 minutes reading time).
Anrechenbar fr:
Studienangebote in anderen Sprachen > Studienangebot in englischer Sprache
Philosophische Fakultät > Master > Development Studies > Version WS 2015 > Masternote > Specialisation > Economics > 272160 | Fundamentals of International Trade
Philosophische Fakultät > Master > International Cultural and Business Studies - Kulturwirtschaft > Version SS 2011 > Masternote > Modulgruppe C: Schwerpunktmodule Wirtschaftswissenschaften > 272160 | Fundamentals of International Trade
Wirtschaftswissenschaftliche Fakultät > Master International Economics and Business > Version 1 > Masternote > Globalization, Geography and the Multinational Firm > 272160 | Fundamentals of International Trade
Wirtschaftswissenschaftliche Fakultät > Master Business Administration > Version 1 > Masternote > Lehrveranstaltungen aus anderen Masterprogrammen > 272160 | Fundamentals of International Trade
Philosophische Fakultät > Master > International Cultural and Business Studies - Kulturwirtschaft > Version WS 2014 > Masternote > Modulgruppe C: Schwerpunktmodule Wirtschaftswissenschaften > 272160 | Fundamentals of International Trade
Sonstiges:
This course provides the basis for further courses related to International Trade and Globalization like “The Empirics of International Trade“ and “Advanced International Trade“.
ECTS-Punkte:
5
Literatur:
  • Feenstra, Robert C. and Alan M. Taylor: “International Trade”, Worth Publishers, 4th edition. (The book “International Economics“ by the same authors covers the same topics.)
  • Dornbusch, R., S. Fischer and P. A. Samuelson (1977). “Comparative Advantage, Trade, and Payments in a Ricardian Model with a Continuum of Goods.” In: The American Economic Review 67 (5), pp. 823–839.
  • Eaton, J. and S. Kortum (2002). “Technology, Geography, and Trade.” In: Econometrica 70, pp. 1741–1779.
  • Krugman, P. (1980). “Scale Economies, Product Differentiation, and the Pattern of Trade.” In: The American Economic Review 70 (5), pp. 950–959.
  • Melitz, M. J. (2003). “The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity.” In: Econometrica 71, pp. 1695–1725.
  • Anderson, James E. and Eric van Wincoop (2003). “Gravity with Gravitas: A Solution to the Border Puzzle.” In: The American Economic Review 93 (1), pp. 170–192.
Weitere Informationen zu dieser Veranstaltung:
Heimatinstitut: Lehrstuhl für International Economics
beteiligte Institute: Passauer Graduiertenzentrum
Angemeldete Teilnehmer: 64
Anzahl der Postings im Forum: 2
Anzahl der Dokumente im Downloadbereich: 2