International Trade

Trade research at Purdue analyzes current trade policy issues and contributes to improved understanding of world markets, which now play an important role in domestic price formation.  Research projects include:

• effects of trade policy liberalization
• usefulness and impacts of export promotion policies
• functioning of world commodity markets
• role of macroeconomic forces in changing agricultural trade patterns
• determination of world trade flows

This option is designed to prepare Master's students for careers in government, in the agricultural export trade, with economic consulting firms, for international banking institutions, with other private organizations concerned with international issues, or for more advanced graduate work.  The U.S. government agencies which most frequently hire students with this type of training are the Foreign Agricultural Service and the Economic Research Service, USDA.  Students also find jobs with the U.S. Agency for International Development.

Students in this specialty area should take AGEC 644 International Agricultural Trade, and one or more of the economics courses in the trade area, such as ECON 534 and ECON 535. M.S. students interested in positions with private organizations (e.g. the export trade) should include more marketing work in their program.  Language training is helpful for international specialists.  Students who plan to go on for a Ph.D. degree are encouraged to include more quantitative courses and more advanced economic theory in their M.S. plan of study.

 

Suggested Courses for the Master of Science Program:

• AGEC 50600 - Marketing and Prices
• AGEC 591I - Intl Food and Agribusiness Marketing
• AGEC 60400 - Fund of Applied Welfare Econ
• AGEC 64000 - Agricultural Policy

This plan of study is designed to prepare a student for a variety of careers in academia, industry or government.  Opportunities exist with economic consulting firms, the export trade, farm organizations, international banking institutions and other private organizations concerned with international issues.  Most students have in the past taken research positions in government agencies, universities or industry.  The individual student's plan of study will vary depending upon interests, level of preparation and institution(s) previously attended.  The student and major professor will tailor the plan of study to the individual's needs and educational objectives. Complementary areas for additional course work typically include agricultural development, policy, or marketing, although other areas certainly are possible.  Supporting work in industrial organization and markets, agricultural development and policy is strongly encouraged.  Students are encouraged to take more than the minimum requirement of quantitative offerings and more training in economics.  Language training is also helpful.

 

Prerequisite course for the International Trade Specialty Area for the Ph.D.:

9 credits minimum

• AGEC 64400 - International Agricultural Trade (3)
• ECON 63400 - International Trade Theory (2)
• ECON 63600 - Empirical International Trade (2)

Plus at least one of the following:

• ECON 69000 - Trade Topics (2)
• ECON 63500 - Monetary International Economics (2)
• AGEC 61800 - Applied General Equilibrium Analysis (3)