Lecture 8 9 11 12 13 14 15 16 17 18 19


Sep. 28. Homework assignement on Wages in the Classical Model.

May 19. The subject matter of International Economics.

May 16. The importance of established advantage: Why does Qiaotou, China produce 60% of world buttons.

May 16. Wall Street Journal article on vertical farming and New York Times video about Newark vertical farm. The latter grows produce without sun or soil, using only water and LED lights. Sixteen acres of food grow on a floor measuring an eighth of an acre.

That same technology had been developed in Armenia already in 1970s.

May 15. Numerical example on Krugman's model of Monopolistic competition and Trade.

May 14. Increasing Returns to Scale and Trade.

May 13. Intertemporal approach to CAB.

May 4. Overall grades are published.

April 27. Answers to the 6th Quiz problems.

April 27. Answers to the Midterm problems.

April 24. Lecture slides on The Elasticity Approach to Current Account.

April 23. Open Economy Macroeconomics problem set.

April 23. Answers to the 5th Quiz.

April 17. Purchasing Power Parity problem set.

April 16. Monetary Model of Exchange Rate Determination problem set.

April 15.

1. Exchange rates in the Long run: PPP

2. Monetary approach to exchange rate determination

April 11. Foreign Exchange Transactions problem set.

April 10. A general note on research papers:

There is a huge difference between a research statement, and a political or a rhetorical statement.

Politicians may claim that they will increase the wages 10 times, or build walls 4 thousand miles long, or do whatever their wildest dreams may bear. If their voters or followers love these claims, then these politicians govern their part of the world, never ever bothering to prove or explain their claims.

But serious researchers and students, unlike politicians and con artists, should prove their claims. Thus, if you make a claim, please substantiate it with appropriate facts or reasoning. Excuse me, but that is the essence of research.

April 7. Problem set on Balance of Payments with solutions.

April 5. As of March 2017 U.K. held 310.3 tonnes of gold, which was the 17th biggest holding of official reserves in the world. Azerbaijan held 20 tonnes of gold (#62 in the world) (source: World Gold Council).

March 29. Today at the lecture I touched briefly to Median Voter Model. Here is its detailed treatment.

March 21. Two useful articles: the first on writing an outline, and the second on developing a thesis statement.

March 21. A detailed treatment of protrade economic growth.

March 15. The solution of one of the Quiz #2 exercises.

March 13. The analysis of Homework #7 results.

March 4. Homework #7 is on increasing returns and international trade.

March 2. The research paper should be 5-6 pages, double-spaced, 12-pt, Times New Roman.


Lecture 1: An Introduction to International Trade

Homework assignment #1

Reading assignments

Data sources

Lecture 2: International Trade Modeling Tools

Homework assignment #2

Reading assignments

Data sources

Lecture 3: Ricardian Model of Comparative Advantage

Homework assignment #3

Reading assignments

Data sources

Lecture 4: Topics in Comparative Advantage

Homework assignment #4

Reading assignments

Data sources

Lecture 5: The Heckscher-Ohlin Model

Homework assignment #5

Reading assignments

Data sources

Lecture 6: The Heckscher-Ohlin Model Extensions

Reading assignments

Data sources

Lecture 7: The Heckscher-Ohlin World: Further Extensions

Reading assignments

Data sources

Lecture 8: The Specific Factors Model

Reading assignments

Data sources

Lecture 9: Testing Trade Theories & HOV Model

Reading assignments

Data sources

Lecture 11: Basic Tariff Analysis

Homework assignment #6

Reading assignments

Data sources

Lecture 12: Quotas & Subsidies

Reading assignments

Data sources

Lecture 13: Theory & Practice of Economic Integration

Required Reading

Optional Reading

Data sources

Lecture 14: Anti-dumping & Countervailing Duties

Required Reading

Optional Reading

Data sources

Lecture 15: Effects of Economic Growth on Trade

Required Reading

Data sources

Lecture 16: Balance of Payments

Required Reading

Optional Reading

Data sources

Lecture 17: Foreign Exchange Market

Required Reading

Optional Reading

Data sources

Lecture 18: International Monetary System

Required Reading

Optional Reading

Data sources

Lecture 19: Exchange rates in the Short run: Asset approach

Required Reading

Optional Reading

Data sources