International Trade and New York Times Essay

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University of Toronto
ECO364H1F - International Trade
Fall 2014
Useful information
Lectures :
• Tuesday 10:10 a.m.- 12:10 p.m. in LM 162 (L0101)
• Tuesday 2:10 p.m.- 4:10 p.m. in MP 102 (L0201)
Instructor : Prof. Kunal Dasgupta
Office : Max Gluskin House, 150 St George Street, Room 328.
E-mail :
Website :
Office hours : Wednesdays, 11 am - 12 pm
Teaching assistants : Palermo Penano (,
Jeff Chan (
Office hours : Palermo - Wednesdays, 11 a.m. - 12 p.m. in GE 40.
Jeff - Fridays, 2 p.m. - 3 p.m. in GE 40.

This course is an introduction to international trade. The core objective of the course is to develop microeconomic models of open economies that can be applied towards answering questions such as why do different countries specialize in producing and exporting different goods, who gains and who loses from trade, what are the most effective trade policies available to national governments for raising aggregate welfare, etc.

Prerequisites and Exclusions
Check out the Document on Prerequisites posted on Portal under C OURSE I NFORMATION.

Textbook and iClicker
The main textbook for the course is Robert C. Feenstra and Alan M. Taylor’s, International
Trade (FT), Worth Publishers, third edition. This book is available for purchase at the UofT

bookstore. It is also available at the Short-Term Loan Service in the Robarts Library (3rd
Floor) in very limited numbers. FT is available in both bound, as well as loose leaf versions.
Earlier editions of FT can also be used. An e-book version of the book which is compatible with tablets and mobile phones is available here:
This course requires an iClicker remote. New and used ones are available at the U of T
Bookstore,, etc. You may borrow an iClicker or share an iClicker with anyone who is not currently taking ECO364. You must use an iClicker remote; iClicker GO is not permitted.1 Other readings
From time to time, I shall also post articles from other sources like The Economist, The New
York Times, The Globe and Mail, etc. For the interested reader, the following books carry insightful but non-technical analysis of some of the issues that we shall be studying in this course: 1. Pop Internationalism, Paul Krugman
2. Free Trade Under Fire, Douglas Irwin
3. In Defense of Globalization, Jagdish Bhagwati
The course is math-intensive. It might be a good idea to brush up your math skills. An excellent online math tutorial is provided here2 by Prof. Martin Osborne.

Marking scheme
There will be iClicker questions in every lecture, worth 8 percent of the total grade. The midterm, to be held during regular lecture hours, will be worth 32 percent of the total grade. 60 percent of the grade will be based on performance in the final exam.

Important dates
9th September
14th October
3rd November
18th November
2nd December

First lecture
Midterm (during regular lecture hours)
Last day to drop course
No lectures (Fall break)
Last lecture


If you are unable to obtain an iClicker remote, you may register for a short-term loan service. You can borrow a remote before class and must return it after each class. Visit the Economics Department Reception Desk (150 St
George St) weekdays between 9:00 and 4:00 for more information.


iClicker questions
Like any class participation, quality matters. Correct iClicker responses earn full marks. Incorrect answers earn 50% marks. Each unanswered question earns 0. Point values can vary by question.3 There will be ten lectures with iClicker questions (starting from the second lecture)
- I shall drop the two lowest scores. It is your responsibility to: correctly register your iClicker, bring it to class, arrive on time, and stay for the entire class.
To register your iClicker, go to…