Recognize why many economists believe that unrestricted free trade between nations will raise the economic welfare of countries that participate in a free trade system.

International Trade Theory

Understand why nations trade with each other.
ummarize the different theories explaining trade flows between nations.
Recognize why many economists believe that unrestricted free trade between nations will raise the economic welfare of countries that participate in a free trade system.
Explain the arguments of those who maintain that government can play a proactive role in promoting national competitive advantage in certain industries.
Understand the important implications that international trade theory holds for management practice.

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