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International Economics (HSL714) Aug2022

This document provides information about the course HSL714: International Economics offered in Semester I of AY 2022-23. It introduces the instructor Debasis Mondal and his contact details. It provides a synopsis of the course content which will cover international trade theories and current trade problems and policies. The prerequisites for the course are intermediate microeconomics, and an undergraduate course in international trade is helpful but not necessary. Assessment will include problem sets, a midterm exam, final exam, and a presentation on an international trade topic. The main textbooks are listed and an outline of the course topics is provided along with required and essential readings for each topic.

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Rashul
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62 views5 pages

International Economics (HSL714) Aug2022

This document provides information about the course HSL714: International Economics offered in Semester I of AY 2022-23. It introduces the instructor Debasis Mondal and his contact details. It provides a synopsis of the course content which will cover international trade theories and current trade problems and policies. The prerequisites for the course are intermediate microeconomics, and an undergraduate course in international trade is helpful but not necessary. Assessment will include problem sets, a midterm exam, final exam, and a presentation on an international trade topic. The main textbooks are listed and an outline of the course topics is provided along with required and essential readings for each topic.

Uploaded by

Rashul
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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HSL714: International Economics

Semester I (Aug-Nov 2022)


AY-2022/23

Instructor:
Name: Debasis Mondal
Office: MS 606
Phone: 2659-6089
Email: [email protected]
Office Hours: Wednesday and Friday 12-1pm (by appointment, pls send an email)

Synopsis
This course surveys and studies the various theories of international trade and applies them to
the analysis of current trade problems. The topics covered include the theories explaining the
trade pattern, gains from trade, trade policies, international economic integration and so on. The
target group of students are those who would like to have more in-depth knowledge of
international trade theories and current trade problems and policies.

Prerequisites
The main prerequisite for this course is intermediate microeconomics; an undergraduate course
in international trade will be helpful but not necessary. Non-Economics major graduate students
may take this course with instructor’s approval only.

Assessment
Problem sets 20%
Midterm Exam 20%
Final Exam 40%
Presentation 15%

Problem sets: There will be four problem sets. Best three scores out of four will be taken into
account.
Midterm Exam: There will be an in-class mid-term exam (closed book). Date and time for this
exam will be announced in the class or will be aligned with the IITD academic calendar.

Final Exam: The final exam will be closed book.

Attendance: Please submit a short excuse note (or, email) in case you miss a class.

Presentation: Students are free to choose any topic of international trade. The paper on that
topic must be published in reputed international/national journal and can be theoretical and/or
empirical in nature. It is preferable to discuss with the instructor about the topic and paper
beforehand. Any monograph/writing on your own based on the paper presentation (of your own
or peers) will be added advantage to do well in this course.

Main text Books:

(1) Feenstra, Robert C., Advanced International Trade: Theory and Evidence.
Princeton University Press, 2004. (first edition) (F)
(2) Caves, Richard E., J. A. Frankel and R. Jones, World Trade and Payments;
An Introduction. 9th or 10th edition. Publisher: Addison Wesley, 2007.
(CFJ)

Course outline
(Essential items should be read before the lecture on the topic. Required items should be read shortly
thereafter.)

1. Introduction and Ricardian trade theory


Essential: F chapter 1 pp1-4

Required:
i). R. Dornbusch, S. Fischer and P. A. Samuelson, “Comparative advantage, trade and
payments in a Ricardian model with a continuum of goods”, American Economic Review,
67(5), 823-839, December 1977. (Written by three Nobel Laureates!)
(Reprinted in J. P. Neary (ed), International Trade Volume II.)
2. The conventional two-sector models and gains from trade
Essential: CFJ supplement chapters 2,3 and 4.

Required:
i). Jones, Ronald W. 1965, “The structure of simple general equilibrium models,” Journal of
Political Economy 73, pp 557-572..

3. The Specific factor and Heckscher-Ohlin model


Essential: CFJ supplement chapters 6 and 7; F chapter 2.

Required:
i. Trefler, Danier, 1993, “International factor price differences: Leontief was right!” Journal
of Political Economy, December 1993, 101 (6), pp 961-987.
ii. J. P. Neary, “Short-run capital specificity and the pure theory of international trade”,
Economic Journal, September 1978, 88 (351), pp 488-510.
iii. E. Helpman, “The structure of foreign trade”, Journal of Economic perspectives, Spring
1999, 13 (2), pp 121-144.
iv. R. C. Feenstra, “Integration of trade and disintegration of production in the global
economy”, Journal of Economic perspective Fall 1998, 12 (4), pp 31-50.
v. Choi, Yong-Seok and Pravin Krishna, 2004, “The factor content of bilateral trade: an
empirical test,” Journal of Political Economy 112, pp 887-914.

4. Trade in intermediate inputs and wages


Essential: F chapter 4 pp 106-117,

Required:
i. Feenstra, Robert C. and Gordon H. Hanson, 2003, “Global production sharing and rising
inequality: a survey of trade and wages,” in E. Kwan Choi and James Harrigan, eds.,
Handbook of International Trade, Oxford: Blackwell.
ii. Feenstra, Robert C. and Gordon H. Hanson, 1996, “Foreign Investment, Outsourcing
and Relative Wages,” in R.C. Feenstra, G.M. Grossman and D.A. Irwin, eds., The
Political Economy of Trade Policy: Papers in Honor of Jagdish Bhagwati, MIT Press, 89-
127.
5. Increasing returns, imperfect competition and economic geography
Essential: F chapter 5 pp 137-141.

Required:
i. Krugman, Paul R., 1979, “Increasing returns, monopolistic competition, and international
trade,” Journal of International Economics 9, pp. 469-479.
ii. Krugman, Paul R., 1980, “Scale economies, product differentiation and the pattern of
trade,” American Economic Review 70, pp 950-959.
iii. Krugman, Paul R., 1991, “Increasing Returns and Economic Geography,” Journal of
Political Economy 99, pp 183-199.

6. The instruments of trade policy


Essential: CFJ supplement chapter 10,
Required:
i. Brander, James A. and Barbara Spence, 1984, “Trade warfare: tariffs and cartels,”
Journal of International Economics 16, pp. 227-242.
ii. Brander, James A. and Paul R. Krugman, 1983, “A reciprocal dumping model of
international trade,” Journal of International Economics 15, pp. 313-323.
iii. Brander, James A. and Barbara Spencer, 1985, “Export subsidies and international
market share rivalry,” Journal of International Economics 16, pp. 83-100.

7. Preferential trade areas


Essential: CFJ chapter 14.
Required:
i. Anne O. Krueger, “Are preferential trading arrangements trade-liberalizing or
protectionist?” Journal of Economic Perspectives, Fall 1999, 13, pp 105-124.
ii. Jagdish Bhagwati, David Greenway and Arvind Panagariya, “ Trading preferentially:
Theory and practice,” Economic Journal, 108, (July 1998), pp 1128-1148.
8. The political economy of trade policy
Essential: F chapter 9.
Required:
i. Grossman, Gene M. and Elhanan Helpman, 1994, “Protection for sale,” American
Economic Review, 84, pp. 833-850.
ii. Dutt, Pushan and Devashish Mitra, 2002, “Endogenous trade policy through majority
voting,” Journal of International Economics 58, pp. 107-134.
iii. Pravin Krishna and Devashish Mitra, 2008, “Reciprocated unilateralism in trade reforms
with majority voting,” Journal of Development Economics, 85 (1-2), February 2008, pp
81-93.
9. Trade and endogenous growth
Essential: F chapter 10.
Required:
i. Feenstra, Robert C., 1996. “Trade and uneven growth,” Journal of Development
Economics, 49(1), pp 229-256 April 1996.
ii. Grossman, Gene M & Helpman, Elhanan, 1989. "Product development and international
trade” Journal of Political Economy, 97(6), pp 1261-83, December 1989.

(The topics may change from the above list depending on in-class interactions and time constraint.)

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