This course is an introduction to the theory and policy of international trade and international macroeconomics. It analyzes models of international trade based on perfect competition and imperfect competition, with an emphasis on the benefits of international trade and its implications for national welfare and the distribution of income. It also analyzes international trade policy with an emphasis on tariffs, import quotas, export subsidies and the role of international institutions and agreements on trade liberalization. It also analyzes the determinants of the balance of payments and exchange rates, the macroeconomic effects of monetary and fiscal policy in open economies, and the development of the international and European monetary systems.
Indicative Course Prerequisites: Introduction to Economic Analysis Ι, Introduction to Economic Analysis ΙΙ