PA 856: Trade, Competition, and Governance in a Global Economy
This site provides resources for students in PubAffr 856 at the University of Wisconsin, Madison for Spring 2020 Semester
Source: Bown, US-China Trade War Tariffs," Peterson Institute for International Economics, Dec. 19, 2019.
Important Dates |
Downloadable Course Materials and Information Sources |
Robert M. LaFollette School of Public Affairs |
LECTURE: MW 11-12:15, Social Sciences 6240
Professor Menzie Chinn
Office Hours: MW 2-3 (until 3/9, TBA thereafter)
7418 Social Sciences
Tel: (608) 262-7397
PA856 Syllabus in PDF file.
This course provides an introduction to international trade policy. Its purpose is to provide students with an understanding of international trade theory, rules, politics and institutions and the major policy issues facing the global trading system. The first part of the course presents a treatment of the theory of international trade. It explores the rationale for free trade, the distributional impact of trade, the impact of tariffs and quotas, and the challenges presented by deeper international economic integration.
The second part of the course deals with the World Trade Organization, and how U.S. trade policy is conducted. It explores negotiation mechanisms and principles and the rules relating to market access, dispute settlement, fair trade, safeguards and trade-related intellectual property, (TRIPs). The third part considers major issues facing the trading system. These include regional trading arrangements including TTP and TTIP, foreign investment and national security concerns, the impact of China, and health and safety concerns associated with trade.
The aim of this course is to provide an analytical background for those who plan to go into government service, international organizations and agencies, businesses involved in the global economy, nongovernmental organizations with international foci, and consulting firms analyzing international trade policy issues.
Only those who are comfortable with graphical -- and to a lesser degree algebraic -- analysis should enroll in this course. It requires some immersion in relevant economic theory, although some time is devoted to institutional descriptions.
The required textbooks, available at the UW Bookstore, are:
- Rob Feenstra and Alan Taylor, International Trade, 4th edition (Worth, 2017).
Additional assigned readings will be available on the Web (via links on this website). Required Readings
Midterm 2, 4/27
No lecture, 4/29 - attend Blustein seminar on China in world economy Conference cancelled.
Term paper, 5/1 (Fri.) 5/3 11:59PM (Sunday)
Downloadable Course Materials
Lectures are online at Canvas, Blackboard
- Harrison Harrison, "The Changing Landscape of International Trade," Jackson Hole Economic Policy Symposium 2017.
- Cr Crowley, 2003, "An introduction to the WTO and GATT," Economic Perspectives 2003Q4.
- Amiti1 Amiti, Redding, Weinstein, "The Impact of the 2018 Tariffs on Prices and Welfare," Journal of Economic Perspectives (2019).
- Amiti2 Amiti, Redding, Weinstein, "Who's Paying for the US Tariffs? A Longer-Term Perspective," NBER WP 26610
- EcFact1 Chinn, "What is the national security rationale for steel and aluminum protection," EconoFact, June 6, 2018
- CRS 232 CRS, Section 232 Investigations: Overview and Issues for Congress (February 2020)
- MIC2025 McBride, Chatzky, "Is 'Made in China 2025' a Threat to Global Trade?" CFR Backgrounder, May 2019.
- CBO PTA CBO, 2003, "The pros and cons of pursuing free-trade agreements," Economic and budget issue brief, July 31, 2003.
- CRS TPP CRS, The Trans-Pacific Partnership (TPP): In Brief
- PP Petri & Plummer, "China Should Join the New Trans-Pacific Partnership," PIIE (2019)
- CRS FDI1 CRS, Foreign Direct Investment in the United States: An Economic Analysis
- CRS FDI2 CRS, U.S. Direct Investment Abroad: Trends and Current Issues
- Ba Baldwin (ed.), Brexit Beckons: Thinking ahead by leading economists [Ungated version]
- ADH Autor, Dorn, Hanson, "The China Syndrome," AER (2013)
- WWYZ Wang, Wei, Yu, Zhu, Re-examining the Effects of Trading with China on Local Labor Markets (2018)
- FH Feenstra and Hanson, "Global Production Sharing and Rising Inequality: A Survey of Trade and Wages," June 2001, forthcoming in Kwan Choi and James Harrigan, eds., Handbook of International Trade, Basil Blackwell.
Trade Policy Uncertainty
Empirical Estimates of Impact of US tariffs
Trade and National Security
PTA's, NAFTA and USMCA
- Morrison, Wayne, "The Made in China 2025 Initiative: Economic Implications for the United States," In Focus, April 12, 2019.
- USTR, "Economic and Trade Agreement Between the Government of the United States and the Government of the People's Republic of China" (1/15/2020)
- Bown, "Unappreciated hazards of the US-China phase one deal," Trade & Investment Policy Watch, Peterson IIE, Jan 21, 2020
- Villareal, Fergusson, "In Focus: US-Mexico-Canada (USMCA) Trade Agreement," Congressional Research Service, January 30, 2020.
- US ITC "U.S.-Mexico-Canada Trade Agreement: Likely Impact on the U.S. Economy and on Specific Industry Sectors," April 2019.
- Cimino-Isaacs, Sutherland, "Insight: The Regional Comprehensive Economic
Partnership: Status and Recent Developments," CRS, Nov. 19, 2019.
- WTO webpage on Regional Trade Agreements
- CBO, How Preferential Trade Agreements Affect the U.S. Economy (September 2016).
- "NAFTA Renegotiation and the Proposed United States-Mexico-Canada Agreement (USMCA)," CRS Report (February 26, 2019).
- CBO, "Effects of NAFTA on US-Mexican Trade and GDP," (2003)
- Villareal, Fergus, "The North American Free Trade Agreement," CRS Report R42946 (February 22, 2017).
- Mohammed Aly Sergie "NAFTA's Economic Impact," A CFR Backgrounder (2014)
- CRS, Trans-Pacific Partnership (TPP) Countries: Comparative Trade and Economic Analysis
- Petri, Plummer, Urata, Zhai, "Going It Alone in the Asia-Pacific: Regional Trade Agreements Without the United States," WP 17-10 (Peterson IIE: October 2017).
- Assessing the Trans-Pacific Partnership, Vol.1, PIIE Briefing 16-1
- Petri, Plummer, "The Economic Effects of the Trans-Pacific Partnership: New Estimates," PIIE working paper 16-2 (January 2016)
- Jackson, Akhtar, Mix, "The Economic Implications of Exit of the United Kingdom from the European Union," CRS Report R44559 (February 13, 2020).
- Latorre, Olekseyuk, Yonezawa, and Robinson, "Brexit: Everyone Loses, but Britain Loses the Most," Peterson Institute for International Economics Working Paper 19-5 (March, 2019).
- Treasury Brexit Analysis, draft.
- CFR Backgrounders: What Brexit Means
- Armstrong, Portes, "Commentary: The Economic Consequences of Leaving the EU," NIESR Review No. 236 (May 2016).
- HM Government, "Alternatives to Membership - Possible Models for the United Kingdom Outside the European Union," March 2016.
- Franco, Chiara, Francesco Rentocchini, and Giuseppe Vittucci Marzetti. "Motives Underlying Foreign Direct Investments: A Primer." In Proceedings of the 5th International Conference on Innovation & Management,(vols I and II, pp. 2329-2345). Wuhan University Technology Press. 2008.
- Jackson, Cimino-Isaacs, "CFIUS Reform: Foreign Investment National Security Reviews," CRS (August 22, 2019).
- UNCTAD page on Bilateral Investment Treaties
- UNCTAD, World Investment Report, 2019
Labor and Trade
Agriculture and Trade Policy
Currency Manipulation and Trade
- Harrison, The Changing Landscape of International Trade: Protectionism, Bashing China and the American Worker," Jackson Hole Symposium 2017.
- Hummels, Munch, Xiong, "Offshoring and Labor Markets," Journal of Economic Literature (2018).
- Sutter, Schwarzenberg, Sutherland, "COVID-19: China Medical Supply Chains and Broader Trade Issues," CRS Report R46304 (April 6, 2020).
- Hart, "COVID-19: An Overview of Trade-Related Measures to Address Access to Medical Goods," Legal Sidebar (March 2020).
- Morrison, "The Made in China 2025 Initiative: Economic Implications for the United States," InFocus CRS, April 2019.
- Black, Diamond, Merrill, "One Tiny Widget's Dizzying Journey Shows Just How Critical Nafta Has Become," Bloomberg (February 2, 2017).
- Irace, Nelson, "International Trade and Finance: Overview and Issues for the 115th Congress,
" CRS Report 44717 (March 2018)
- Furman, Russ, and Shambaugh, "US Tariffs Are and Arbitrary and Regressive Tax," VoxEU (12 January 2017).
- Richard Baldwin, "The World Trade Organization and the Future of Multilateralism," Journal of Economic Perspectives 30(1) (2016)
- Mankiw and Swagel, "The Politics and Economics of Offshore Outsourcing," paper presented at Carnegie-Rochester conference, November 18, 2005.
- Edwin Vermulst, "Section 3.6: Anti-dumping," Dispute Settlement (UNCTAD: New York and Geneva, 2003).
- WTO webpage on Antidumping, Countervailing Duties, and Safeguards.
- WTO webpage on TRIPS
Economics and Economic Policy Links
U.S. Government Agencies
Current and Historical Data
- World Bank Trade Data page
- Bureau of Economic Analysis, Dept. of Commerce Data on GDP components as well as trade and FDI flows
- Bureau of the Census, Dept. of Commerce Data on the characteristics of the US population as well as of US firms.
- Bureau of Labor Statistics, Dept. of Labor Data on wages, prices (including imported goods), productivity in the US and abroad, and employment and unemployment rates.
- Economic Report of the President, various years. The back portion of this annual publication contains about 70 tables of government economic data.
- St. Louis Fed economic database Thousands of time series on economic activity, in an easily downloadable form.
- NBER Data Specialized economic databases, including trade related, created by economists associated with the National Bureau of Economic Research.
- Penn World Tables Annual GDP and other data for over a hundred countries, expressed in international dollars, after adjusting for differing price levels.
PA856 Trade, Competition and Governance in the Global Economy/ UW Madison / firstname.lastname@example.org / 30 April 2020