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  • Lecture 4. International trade theory and the political economy of international trade

    Understand why nations trade with each other.

    Summarize the different theories explaining trade flows between nations.

    Recognize why many economists believe that unrestricted free trade between nations will raise the economic welfare of countries that participate in a free trade system.

    Explain the arguments of those who maintain that government can play a proactive role in promoting national competitive advantage in certain industries.

    Understand the important implications that international trade theory holds for management practice.