Not available in 2018/19
MG4B9 Half Unit
The World Trading System
This information is for the 2018/19 session.
Dr Veronica Rappoport NAB 5.29
This course is available on the CEMS Exchange, Global MSc in Management, Global MSc in Management (CEMS MiM), Global MSc in Management (MBA Exchange), MBA Exchange, MPA Dual Degree (LSE and Columbia), MPA Dual Degree (LSE and Hertie), MPA Dual Degree (LSE and NUS), MPA Dual Degree (LSE and Sciences Po), MPA Dual Degree (LSE and Tokyo), MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MPA in Social Impact, MSc in Economics and Management, MSc in Management and Strategy, MSc in Risk and Finance and Master of Public Administration. This course is available with permission as an outside option to students on other programmes where regulations permit.
Basic Knowledge of Mathematics and Economics
The course studies a key component of the "globalization" process: the negotiation, implementation and implications of international trade agreements (ITAs). These include the World Trade Organisation and the fast-growing web of regional trade agreements. We analyse the challenges and opportunities faced by companies engaged in the global economy in this context. The course relies on recent theoretical and empirical research to gain insight into the motivations for ITAs and their consequences for consumers and firms. Globalisation - trends in the international economy and overview of their causes and effects. The sources of international trade. Trade barriers - restrictions to international trade and their consequences. The economics and politics of international trade agreements. The rules, accomplishments and shortcomings of the GATT/WTO system. Regional trade agreements - motivation, implications, and recent trends. The costs and benefits from exporting for individual firms. Challenges and opportunities for national and multinational firms in the global economy.
10 hours of lectures and 10 hours of seminars in the MT. 1 hour of lectures in the ST.
Students on this course will have a reading week in Week 6, in line with departmental policy.
Robert Feenstra and Alan Taylor, International Economics, Worth Publishers, 2008. Kyle Bagwell and Robert W. Staiger, "The Economics of the World Trading System," MIT Press, 2004. The World Trade Organisation, "The WTO and preferential trade agreements: From co-existence to coherence," World Trade Report, 2011. Bernard M. Hoekman, Aaditya Mattoo, Philip English (editors), "Development, Trade, and the WTO: A Handbook," World Bank, 2002. Andrew Bernard, J. Bradford Jensen, Stephen Redding and Peter Schott, Firms in International Trade, Journal of Economic Perspectives 21(3), 105-130, 2007.
Coursework (50%), class participation (10%) and other (40%) in the MT.
Group assignments (40%)
Peer evaluation and class participation (10%)
Individual assignment during the last week of the term (50%)
Total students 2017/18: 14
Average class size 2017/18: 8
Controlled access 2017/18: Yes
Value: Half Unit