Microeconomic Risk and International Trade

4 Credits.

The goals of this course are two-fold. First, it provides a basic understanding of the theory of price determination and markets and underlying microeconomic concepts necessary for economic policy and welfare analysis at the national level. Second, it applies these microeconomic tools in the context of international trade and trade policy, including the economic underpinnings of globalization, implications for economic agents, effects of protectionism and industrial policy, and the economics of regional cooperation. It also reviews multilateral and regional institutions that govern modern trade and considers their future in the post-Covid era.