Globalization and International Trade

In a world, that for a long time has been characterized by increased economic integration between countries (increased globalization), we now see tendencies towards ever stronger protectionist currents. Economists generally look at the effects of globalization throughout the economy to weigh the pros and cons. In most cases, the total gain is so much greater than the cost to individuals or groups of workers who lose their jobs. Protectionism, au contraire, focuses mainly on (for some purpose) supporting specific groups but at a higher cost to all others. This course presents a number of theories and models (historical and contemporary) that are used to understand explain and (to some extent) predict various aspects of international trade.