Suspended in 2025/26
MG4B9 Half Unit
The World Trading System
This information is for the 2025/26 session.
Course Convenor
Dr Veronica Rappoport-Redondo
Availability
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, MSc in Economics and Management and MSc in Management and Strategy. This course is available with permission as an outside option to students on other programmes where regulations permit. This course uses controlled access as part of the course selection process.
For full details on how to how apply for controlled access courses, the deadline for applications and who to contact with queries, please see the following webpages:
https://moodle.lse.ac.uk/course/view.php?id=3840
https://info.lse.ac.uk/current-students/services/course-choice/controlled-access-courses
Requisites
Additional requisites:
Basic Knowledge of Mathematics and Economics
Course content
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.
Teaching
10 hours of seminars and 10 hours of lectures in the Autumn Term.
This course has a reading week in Week 6 of Autumn Term.
In its Ethics Code, LSE upholds a commitment to intellectual freedom. This means we will protect the freedom of expression of our students and staff and the right to engage in healthy debate in the classroom.
Formative assessment
In-class exercises.
Indicative reading
- 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.
Assessment
Written test (50%)
Course participation (10%)
Project (40%)
The assessment consists of Group assignments (40%), class participation (10%) and an in-class exam during the last week of the term (50%).
Key facts
Department: Management
Course Study Period: Autumn Term
Unit value: Half unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: Unavailable
Average class size 2024/25: Unavailable
Controlled access 2024/25: NoCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.