International Economics, Trade and Development

This course provides a survey of economics principles within both microeconomics and macroeconomics. It introduces students to the basic economic concepts that are fundamental to understanding economic observations in daily life, such as supply, demand, price, market equilibrium, national income, unemployment, inflation, economic growth, international trade, and so on. Through discussions of contemporary economic issues and policies, students will learn how households and firms make decisions under certain economic systems, how individual markets and the national and international economy operate, and how government policies affect economic outcomes.

How does equitable growth occur, especially in a region where sustained growth and equality have long been elusive goals? In the last two decades, millions of Latin Americans have risen out of dire poverty, much of the region has democratized, and Latin American commodities have expanded into vast new markets, such as China. Nonetheless, poverty and inequality in the region (and its violent effects) remain pervasive and nearly intractable problems. Besides poverty and inequality, other course themes include liberalism, neoliberalism, structuralism, institutions and norms, civil society, foreign investment, globalization, and regional integration. The imposition of policies and “structural adjustment” by outsiders will be considered, as is the capacity of this region to generate new political and economic paradigms or policies, such as dependency theory and conditional cash transfers. Since “development” is a particular kind of utopia, cultural studies and anthropology are not excluded, but most material comes from economics and political science.

This course introduces students to one of the major issues of the world economy: the process of economic development. It provides an understanding of the causes and consequences of underdevelopment and poverty in the context of developing economies and attempts to explore possible means to overcome obstacles to development. Topics covered include: economic growth, sources of growth (capital formation, population and human capital, technology), economic structural change, income distribution, institutional factors, development strategies, government policies, international trade, foreign aid, foreign investment, and debt crisis. 

This course provides an introduction to international economic concepts and contemporary issues related to international trade and international finances. It illustrates the philosophical foundations and historical context of various theories of trade and finance and their applications to trade policies and trade relations. Other areas examined include: balance of payment, determination of exchange rate, foreign investment, multinational enterprises, financial market internationalization, international economic policies, and international economic organizations. Emphasis is on the critical evaluation of and debates on current trade policies and other international economic issues, such as North-South trade relations, free trade vs. protectionism, and international resources movement.