University of Kentucky 3 credits Economics
This is advanced economic course in international trade. The first part of the course covers the basics of why countries trade, what explains the pattern of trade that we observe and what are the effects of trade on welfare and the distribution of income. The second part of the course covers issues concerning trade policy and looks at the positive and normative effects of trade policy and trade agreements as well as investigating topics of current interest. While the focus of the course is on theory, students will also be exposed to many applications of the theory as a means of both explaining the economic intuition and encouraging students to analyze the world around them from an economic perspective. Prereq: ECO 401 or equivalent. Agricultural Economics majors may substitute AEC 303 for this prerequisite. (Same as AEC 471.)
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