Early trade theories: absolute advantage, comparative advantage; Terms of trade: offer curves, gains from trade, Factor endowment and Heckscher-Ohlin model; Balance of payments: current account, capital account, balance of trade; International monetary system: IMF, World Bank; Exchange rate volatility: fixed exchange rate, floating exchange rate; Multilateral trade agreements: GATT, UNCTAD, WTO.
Text:
1. D. Salvatore, International Economics, Wiley, 2003
2. Bo Sodersten, Geoffrey Reed, International Economics, Palgrave Macmillan, 3rd edition, 2008 (reprint)
Reference:
1. P.R. Krugman& Maurice Obstfeld, International Economics: Theory and Policy, Addison Wesley, 2008
