This course offers an introductory view of how the world economy has developed and what the future might hold, with a focus on the institutional factors and historical events. Both the world trading and monetary system are included. Applications of the basic economic theory to problems arisen from the world economy are provided. Theory of international economics and the real-world cases are discussed and reviewed. Topics include: protectionism, trade liberalization, regional trade blocs, factor mobility, exchange rate systems, managing currencies and policy cooperation, and debt and currency crisis, etc.