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1: Introductory Trade Issues - History, Institutions, and Legal Framework
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- For this reason, economists build mathematical models, or theories, meant to describe different aspects of the real world. For some students, economics seems to be all about these models and theories, these abstract equations and diagrams. However, in actuality, economics is about the real world, the world we all live in.
- For this reason, it is important in any economics course to describe the conditions in the real world before diving into the theory intended to explain them. In this case, in a textbook about international trade, it is very useful for a student to know some of the policy issues, the controversies, the discussions, and the history of international trade.
- 1.1: The International Economy and International Economics
- 1.2: Understanding Tariffs
- 1.3: Recent Trade Controversies
- 1.4: The Great Depression, Smoot-Hawley, and the Reciprocal Trade Agreements Act (RTAA)
- 1.5: The General Agreement on Tariffs and Trade (GATT)
- 1.6: The Uruguay Round
- 1.7: The World Trade Organization
- 1.8: Appendix A- Selected U.S. Tariffs - 2009
- 1.9: Appendix B- Bound versus Applied Tariffs