The course is based on the increasingly intertwined global economy and highlights important changes affecting globalization in the last hundred years. The causes of globalization and its long and short run implications are covered. The analysis is based on theoretical models that help us understand the different relationships that drive globalization, trade patterns and changes in trade flows between countries and regions. Important elements of the course include innovation, knowledge diffusion, foreign direct investment (FDI) and multinational corporate location decisions and their impact on globalization and growth. The course provides students with the necessary theoretical and empirical tools to analyze and predict globalization, specialization and international and regional trade.
Important elements of the course include:
- Static and dynamic comparative advantages
- Spatial preferences and specialization
- One-and two-way trade
- Spatial price equilibrium
- Barriers
- Specialization, agglomeration and regional/national growth
- International and regional migration patterns
- FDI