The course introduces international trade and factor flows theory, as well as to related empirical studies, using standard microeconomics tools to analyze economic interactions between countries. Topics to be covered include: determinants of the level and composition of trade between countries; consequences of trade on consumer welfare and income distribution; effects of tariffs, quotas, and other trade policies; causes and consequences of international labor migration and foreign direct investment. Students taking this course should be able to understand, with a critical view, trade, immigration and FDI policies in an open economy. Relevant learning outcomes include: movement of labor and capital between countries – international migration and FDI; international agreements – trade, labor and environment.