Globalization & International trade

Intro : absolute advantage and comparative advantage, as well as newer theories like the Heckscher-Ohlin model and Porter's National Competitive Advantage. 
theories of international trade : Mercantilism, Absolute Advantage, Comparative Advantage and Heckher-Ohlin Theory.

Trade barriers and protectionism are government policies designed to restrict international trade, often to shield domestic industries and jobs from foreign competition, using tools like tariffs, quotas, and subsidies. 

International trade agreements are pacts between countries to regulate trade, often aiming to reduce barriers like tariffs and quotas, and promote economic cooperation. They can be bilateral (between two countries) or multilateral (between multiple countries) and cover various sectors like goods, services, and intellectual property.