ECO 321 International Economics
Introduces basic theory of international trade and finance. Highlights sources of comparative advantage, gains and losses from trade, the impact of trade on economic growth, and effects of trade policy interventions such as tariffs, quotas, voluntary export restraints and export subsidies. International agreements on regional trade liberalization (such as EU and NAFTA) and on multilateral trade liberalization (e.g., WTO) will also be discussed. Topics on international finance include balance of payments, determination of foreign exchange rates, and international monetary system. Prerequisite: ECO 102 or ECO 113 or permission of department.