88-323 Policy in a Global Economy 1: International Trade and Trade Policy
6 units, Carnegie Mellon University
Across the globe, the longstanding consensus in favor of open trade and investment policies is being called into question. Trade wars are spreading and becoming more intense. Protectionism and industrial policies are being embraced by developed and developing countries alike. Are these shifts appropriate? Will they lead to greater prosperity or make prosperity harder to achieve? This course will give students the tools to answer these qustions. It will focus on the economics of international trade and immigration, providing students with the skills needed to assess trade, industrial, and immigration policies. We will also study the politics of trade and immigration and the roots of the current backlash against globalization. We will study the connection between trade and economic development. We will analyze the rise of trade wars, trade sanctions, and the growing connection between trade policy and considerations of national security. We will also examine policy options for mitigating the costs and more equally distributing the benefits of international trade. Finally, we will consider the implications of climate change for international trade and trade policy. The instructor, Professor Lee Branstetter, is the James Walton Professor of Economics and Public Policy at Carnegie Mellon University. He has served on the staff of President Obama's Council of Economic Advisers and as a consultant to the World Bank, the IMF, and Japan's Ministry of Economy, Trade, and Industry.
Prerequisites: none listed
Offered: Spring 2027, Spring 2026
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