In-person Course. Recent developments in international economics. Trade policy and market structure; the economics of trading blocs such as the EU and NAFTA; the economic consequences of continued U.S. external deficits; globalization and inequality; exchange rates, interest rates, and volatility; speculative capital flows and exchange rate policies; and financial crises and the prospects for the European Monetary Union. Prerequisites: intermediate microeconomics and macroeconomics or equivalents.