Theory and Policy of International Trade

The goal is that the students, on the basis of the knowledge acquired in the basic studies, explore trade-related aspects of international economic relations. International trade and trade policy are studied in terms of the modern theory of international trade, which are the basis, but also the consequence of the real international trade flows.

After successfully passing the exam, the students will be able to: - describe the concept of international trade and international trade policy, - classify the liberal and protectionist theories of international trade, - classify the trade policy instruments and explain their effects, - examine the importance of international trade for economic growth and development of countries, - delineate the importance of international trade for large and small open economies - explain the ways of regulating international trade flows, - predict future significant changes in international trade and international trade policy.

Introduction to the theory and trade policy of international trade; Liberalism and protectionism in international trade, competitiveness in the theories of international trade; Impact of international trade on economic growth and development; Effects of exchange relations on the competitiveness of national economies (developed and less developed countries); Effects of trade policy instruments (tariffs, non-tariff barriers) and a separate analysis of the effects of modern protectionist barriers; International trade as a factor of globalization; International trade rules and institutions of regulation (international organizations and the International Chamber of Commerce).

Lectures, consultations, independent presentations of students, independent students' papers and workshops.

Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)

Krugman, P.; Obstfeld, М. (2009). International Economics, Theory and Policy. Belgrade: Data Status; Salvatore, D. (2009). International Economics. Belgrade: Centre for Publishing. Čenić-Jotanović G. (2010). International Economics. Laktaši: Grafomark;