This is an advanced course that is aimed at enhancing deeper understanding of trade theory and enable students to comprehend current analytical approaches in the economics of trade. This module is designed to offer an up-to-date overview of the core trade theories and their implications when it comes to gains from trade, asymmetric effects of trade and determinants of trade patterns. The subject is one of the oldest fields in economics and is extremely topical at the moment, with the ongoing debate on globalization, regional integration and free trade agreements. The aim of this module will be to provide an insight into these recent developments, and to place them in the context of the intellectual development of trade theories. The module will have a particular focus on international trade and trade policy questions of relevance to LDCs and low-income developing countries.