Lecture, one hour; laboratory, one hour. Requisite: course 101. Corequisite: course 121. Case-based analysis requiring students to apply material from course 121 to real-world problems involving international trade. Topics and analysis include theory of international trade: bases, direction, terms, volume, and gains of trade; effects of tariffs, quantitative restrictions, and international integration; effects of free and restricted trade on economic welfare and political stability. P/NP or letter grading.