This course examines international trade theory, policy and applications. Topics include a brief history of trade, absolute and comparative advantage basis for trade, the Heckscher-Ohlin theory, trade with economies of scale, tariffs, non-tariff trade barriers, political economy of non-tariff barriers, strategic trade policies, trade agreements, role of the World Trade Organization (WTO) and developing economies' trade policies. The course emphasizes current applications, policy development, as well as the institutional framework underlying the interaction between nations. Prerequisite: ECON 100 and 101 or ECON 201 and 202 or consent of the Donald School of Business. Note: Not to be taken if credit received for Econ 323.