Economics in a Globalized World

Undergraduate / Graduate

International trade has always been economically controversial and politically contentious. This course demystifies some of the complex issues that surround discussions of globalization. It asks such questions as: Why do countries engage in trade? Are countries in competition with one another, making one a winner and another a loser, or is trade mutually beneficial? Who gains and who loses from international trade within a country? Should high-wage countries be worried about competition from low-wage countries? Is international trade the main cause of increasing U.S. wage inequality? How do global supply chains affect firms and workers? How is the burden of import tariffs divided in the economy? Do international trade agreements create jobs or destroy jobs? What is the impact of a trade war on the global economy? This course examines these questions and much more. There are no strict prerequisites, but I assume familiarity with concepts of microeconomics.