1. World Trade BULW 5380 Introduction

2. What is International B-Law? It generally encompasses the following: International Trade Licensing (principally intellectual property issues) Direct investment (MNC issues)

3. The Economics of International Trade Absolute Advantage Comparative Advantage The key to both is this - specialization creates efficiencies

4. Is Specialization Such a Good Thing? NY Times, January 10, 2010, “Multicultural Critical Theory. At B-School?” By LANE WALLACE Learning how to think critically — how to imaginatively frame questions and consider multiple perspectives — has historically been associated with a liberal arts education, not a business school curriculum, so this change represents something of a tectonic shift for business school leaders. Mr. Martin even describes his goal as a kind of “liberal arts M.B.A.” Many nations prefer “generalists” to specialists, because, as they say on THE CLOSER: “When you’re a hammer, everything looks like a nail.”