International trade theory
International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications. International trade policy has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies.
New trade theory[edit]
New trade theory is a theory of international trade inaugurated by Marc Melitz in 2003.[11] It discovered that efficiency of firms in a country changes much and those firms engaged in international trade have higher productivity than firms which produce only for domestic market. As it is fitted to big data age, the research produced many follows and the trend is now called New new trade theory in comparison to Paul Krugman's new trade theory.
