Economics: Advanced Trade Theory

<p>International trade has played a central role in the global decline of poverty since the late 1970s. In this course, you explore how and why countries grow richer through trade. </p><p>You start with the notion that international trade has played a central role in the global decline of poverty since the late 1970s. Understanding how trade creates wealth is complex and requires multiple theoretical perspectives. You trace the evolution of trade theory - from comparative advantage to modern models that emphasise product variety and firm competition.</p><p>Starting with classical trade theory, we show how countries benefit from specialising according to their comparative advantage. You then move to modern trade theory, where increased product variety and firm-level competition further improve consumer welfare and economic efficiency. </p><p>The course equips you with practical tools for empirical trade analysis. You learn how to collect, structure and analyse trade data - for example, assessing the impact of a free trade agreement.</p>