International Trade Policy Summary

Description

Analyse the determinants, patterns and effects of international trade within a general equilibrium framework, where the interrelationships amongst product and factor markets in an economy are explicitly taken into consideration Explain the effect of government policy on trade Critically evaluate the welfare and income distributional consequences of trade policies. Describe theoretical models in trade theory and apply these theories to the real world trade issues Topic includes: - Ricardian Model - Specific Factor Model - Increasing Returns to Scale Model