Kwan Choi at Richard Daley Center

nternational Economics

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1. Introduction Ranking of Countries
   The Significance of Trade
   Prices in an Open Economy
   

2. The Ricardian Trade Model
   • Absolute versus Comparative Advantage
   • Closed Economcy versus Open Economy
   • World Production Possibility Curve
   • Offer Curves and Trade Equilibrium

3. The Specific Factors Model

   Derivatives

4. Increasing Costs
5. The Heckscher-Ohlin Trade Model
   Factor Price Equalization
   The Stolper-Samuelson Theorem
   The Rybczynski Theorem
   The Heckscher-Ohlin Trade Theorem
   The Leontief Paradox

6. Protectionism
   Arguments for Protection
   Commercial Policies

7. Factor Markets

8. Multinational Corporation

9. Economic Integration and Other Customs Unions

10. World Trade Organization and NAFTA

11. Developing Countries

12. Foreign Exchange Markets

13. Balance of Payments

14. Macroeconomic Policies in an Open Economy
    Keynesian and General Models.
    Internal and External Balance
    
    
15. Effectiveness of Monetary and Fiscal Policies in an Open Economy
    Currency Crisis by Karen Pennar

16. The Bretton Woods System

17. Contemporary Monetary System

18. Sample Test 1

19. Answers to Sample Test 1

20. Sample Test 2

21. Lecture Schedule
    

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