Explores the theory of international trade and foreign investments and the foundation of the world trading order; commercial policies of US and major trading countries; national policies affecting trade; commodity agreements and cartels; customs unions, direction, volume and composition of US and world trade; the case for multilateral trade; GATT; US Trade Reform Act of 1979; US export regulations and US government-assistance programs with exports and foreign investments. Prerequisite(s): ECON 202 (or ECON 1).