This class will examine theories of international trade, the use of trade, technology, and industrial policies by nation-states in the modern global economy, and the impact of these policies on real world economies. Selected economic tools will be used to analyze both the historical roots and current state of debates over the use of trade, technology, and industrial policies by both industrialized and industrializing economies. Students will be asked to apply these frameworks to current policy controversies, and will gain experience in examining a policy issue analytically, defining the issues, formulating a policy recommendation, and defending that analysis and recommendation in both oral and written settings.
An overall goal of the class is to impart a useful working knowledge of policy modeling frameworks applicable to international economic policy issues, and the manner in which simple models are deployed in the real world to win (or lose) intellectual, policy, and legal debates. Every student will leave this class equipped with a basic toolkit of ideas and frameworks that can usefully frame economic arguments about real international policy issues.
Every student will be asked to participate in formal group presentations to the class. These exercises will be oral presentations of analysis and proposed solutions to a detailed policy problem based on the particulars of a real world global industry. In addition, there will be problem sets, a midterm, and a final exam. The oral presentations will count for 30% of the final grade, the problem sets for 20%, the midterm for 20%, and the final for 30%.
Textbook: Feenstra & Taylor, Essentials of International Economics.