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Bilkent University

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Undergraduate and Graduate Programs 2023-2024

ECON 521 International Trade

The aim of this course is to provide a comprehensive overview of the theory of international trade at an advanced level. It will cover topics ranging from the old theories of trade, including the Ricardian and Hecksher-Ohlin models, to the new trade theories which place firms at the center of the analysis. The course will be structured around seminal theoretical and empirical papers in the literature on international trade. The course will cover various topics that include firm heterogeneity, quality differentiation, multi-product firms, oligopoly and trade, foreign direct investment, trade in intermediates, and globalization-induced organization of firms. It will present various models, empirical findings that motivate them, and it will discuss the predictions of the models for trade policy. Credit units: 3 ECTS Credit units: 5, Prerequisite: ECON 504.

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