Course Name Year Term Period Faculty / Graduate School All Instructors Credits
16616:IR18‐EE321 International Trade and Investment (R) § 16617:RUIR-3242 International Trade and Investment(R) § 16618:IR-EBS301 International Trade and Investment (R) 2024 Spring Mon1 College　Of　International　Relations ITAKI MASAHIKO 2

Campus

KIC

Class Venue

KOSHINKAN　KS306

Language

English

Course Outline and Method

In international economics that is an essential part of understanding international reations, we will theoretically address various issues related to international trade and investment. Therefore, it is desirable to take the course together with those of international finance and economic development. We will first build a simple one-country economic model, and then introduce and analyze foreign trade. I want you to fully enjoy the sharpness of economic analysis with the help of basic mathematical method. Some interesting topics are examined such as gains from trade, discount of labor, international exploitation, trade imbalance, US-China trade frictions, the beggar-thy-neighbor policy, and the factors that determine international activities of multinational corporations.

Student Attainment Objectives

You are expected to be familiar with basic principles of economics in general and international economics in particular on the basis of thorough understanding of essential terms and concepts that appear in the course, and to acquire practical ability of applying theory to problems in the real world economy.

Recommended Preparatory Course

Take as many economic-related subjects as possible.

Course Schedule

Lecture/Instructor（When there are multiple instructors) Theme
Keyword, References and Supplementary Information
1

Introduction

Introduction and guidance of the course

1〜2

Lec.1：What is an economy? ---the world of labor

Adam Smith and mercantilism
Labor as the source of national wealth
The system of labor

3〜4

Lec.2：The classical trade theory

The absolute advantage theory of Adam Smith
The comparative advantage theory of David Ricardo
Marxian interpretation of the comparative advantage theory

5〜6

Lec.3：The neo-classical trade theory

Heckscher-Ohlin
Factor endownments
Labor-intensive and capital-intensive

7〜8

Lec.4：L.3. Marxian trade theory

Gains from rade
Development strategies
Import-substituting industrialization
Export-oritented industrialization

9

Lec.5： Keynesian trade theory (1)

Basics of Keynesian macro economics
Economic recession and Keynesian policies
Trade balance and national income

10〜11

Lec.6：Keynesian trade theory（2）

The beggar-thy-neighbor policy
The enrich-thy-neighbor policy
The US-China trade frictions

12〜13

Lec.7：Some basic concepts on MNCs

Foreign direct investment and portfolio investment
Parent campany and subsidiaries
International production, export, and licensing

14〜15

Lec.8 : The theory of MNC and FDI

Hymer's advantage theory
Location theory
Internalization theory
Dunning's eclectic theory

Class Format

Face-to-face lecture style

Recommendations for Private Study

Look through daily newspapers and news as an important application of theory you learn to the real world.

Grade Evaluation Method

Kind Percentage Grading Criteria etc.
Final Examination (Written) 100

The evaluation on the basis of how correctly and creatively one understands the contents of lectures
Report Examination
(A report to be submitted by the unified deadline)		 0

Exams and/or Reports other than those stated above, and Continuous Assessment　
(Evaluation of Everyday Performance in Class)		 0

Grade Evaluation Method （Note）

Advice to Students on Study and Research Methods

Conduct classes using resumes, monitor screens, question cards, newspaper clippings, and statistical data.

Textbooks

Textbooks （Frequency of Use, Note）

Detailed resumes will be distributed for each lectrue.

Reference Books

Title Author Publisher ISBN Code Comment
An Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith
The Principle of Political Economy and Taxation David Ricardo
Capital Karl Marx
The General Theory of Employment, Interest and Money John Maynard Keynes
International Economics: Theory and Policy P. Krugman, M. Obstfeld and M. Melitz
Transnational Corporations and International Production Grazia Ietto-Gillies Edward Elgar
Multinational Enterprises and the Global Economy J. H. Dunning and S. M. Lundan Edward Elgar

Reference Books （Frequency of Use, Note）

Web Pages for Reference

How to Communicate with the Instructor In and Out of Class(Including Instructor Contact Information)

Learning Management System （manaba+R）

Other Comments

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