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Prerequisites: ECON 301, 302. Offered in fall and spring.
International Trade Theory: Mercantilist Theory, comparative costs, and post- Ricardian theories including economies of scale and imperfect competition. Protection Theory; Effective Protection. Terms of trade, national income and the balance of payments. Fluctuations in trade. Foreign exchange markets, exchange rates, and adjustment in the balance of payments. International resource movements.
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