International Trade

Discipline: Semester at Sea Seminars
Instructor: Ranade
Credits: 3
Day: A
Start: 0925
End: 1040
Field Work: Day 1 - Yokohama - 29 January | Japan
Prerequisites: Principle of Macroeconomics and Microeconomics Download Syllabus

This course studies the nature and determinants of international trade and factor movements;
the effects of international trade on prices of goods and factors; the consequences of tariffs,
quotas, customs unions, and other trade policies and agreements, national or international;
and international trade and the balance of payments. The course will focus on the importance
of key international organizations like the World Trade Organization and The World Bank in
international trade. The field visits to the countries visited will bring students closer to the real
world situations and will help in reflecting what they have learned in the classrooms. Students
will be evaluated on the midterm exam, reports on the field visits, ability to integrate other global
courses they will attend on the ship, attendance and participation, and a final exam.

Field Work

Country: Japan
Day: 1 - Yokohama - 29 January

The visit to the Nissan factory will give a firsthand exposure to students how the modern Japanese auto industry has been operating. The students will also see the modern technology and the history of its development in the museum. Discussions with Nissan officials will give an idea about the future plans of Nissan motors in terms of electric cars and related technology developments. This will all be in the context of how some other emerging market economies, like China and India, are now entering the world auto industry. Academic Objectives: At the end of the field lab, the students will be able to:

  1. Understand the applications of the comparative advantage theory for the trade between the U.S. and Japan. See how the trading patterns between the U.S. and Japan changed over time from the auto sector to the electronic sectors.
  2. See how technology transfer and development helped the auto industry in Japan.
  3. Learn about Nissan’s plan to outsource its activities to other countries like China, India, and Thailand.
  4. Learn how Japanese auto industry is maintaining its competence.