Economic Fundamentals of Trade and Globalization

Aug 30, 2005Aug 31, 2005


Session One: Tuesday, 30 August 2005
Fundamentals of International Trade

Dr. Russell Roberts
Professor of Economics and Smith Chair
Mercatus Center at George Mason University 

Click Here to listen to audio archive.

Session Two: Wednesday, 31 August 2005
Do Trade Deficits Destroy American Jobs?
Dr. Russell Roberts 
Professor of Economics and Smith Chair
Mercatus Center at George Mason University 

Click Here to listen to audio archive. 

Trade and Globalization - two simple words to describe the increasingly interdependent exchange of goods and services between individuals and countries around the world for hundreds and hundreds of years. Today, as regional trade agreements are introduced, perceived winners and losers are defined and the quest for economic prosperity is diligently pursued, just the mention of these two words can evoke exceedingly powerful reactions and behavior from individuals across the globe.

With the recent passage of the Central American Free Trade Agreement (CAFTA) and the burgeoning role of the United States in the global economy, it has become imperative to understand the economics that underscore the concepts of trade and globalization.

Whether recently assigned to these issues or merely interested in exploring the fundamental economics of trade, the Mercatus Center’s Capitol Hill Campus is proud to feature noted economist Russell Roberts to help provide an introductory two-session course designed to answer 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?
  • Do trade deficits threaten our standard of living? How do trade deficits affect different sectors of our economy?
  • Does international trade benefit poor countries or exploit them? Should there be a level playing field in wages and environmental and safety regulations, and how might we achieve it?
  • How do regional trade agreements, like CAFTA, affect the structure and level of prosperity for countries around the world?