The Economic Fundamentals of Trade and Globalization

Aug 26, 2008Aug 28, 2008
<p>B-339 Rayburn House Office Building  </p>


Session One: Tuesday, August 26th
Fundamentalas of International Trade
Dr. Russell Roberts

Professor of Economics
George Mason University

Session Two: Thursday, August 28th
Summing Up the Balance of Trade and Trade Deficits
Dr. Russell Roberts 
Professor of Economics
George Mason University

Click Here to view the handout from session two.


As products and services become increasingly mobile across borders and across continents, it becomes increasingly imperative for policy makers to have a solid understanding of the ideas and concepts behind international trade and its effects on the global economy.  Once a foundation is laid, then one can begin to understand the complex issues surrounding trade policy.

Whether approach the field for the fist time, or looking for a refresher on basic principles, The Mercatus Center is pleased to host a two-day course featuring noted economist and author Dr. Russell Roberts to discuss the elements of trade, the effects of trade on the economy, and trade deficits. Please join us as we seek answers to the following questions:

  • How does trade create wealth?  Who gains and who loses from international trade?  Are poor nations and low-skilled workers getting their fair share?
  • What are the social gains from trade?  How does international trade benefit emerging economies from a social standpoint? Does international trade benefit poor countries or exploit them?
  • Do trade deficits threaten our standard of living?  How do trade deficits affect different sectors of our economy?