The course begins with a discussion the intellectual history of free trade and how this has shaped ideas that continue to shape policy today as well as of the core analytical models that assist in any analysis of trade and investment. It covers changes in the nature the of trade and investment in the 21st century, including among other things in the impact of the growth of global supply chains on the political economy of trade and investment. The domestic and international institutional frameworks within which trade and investment policy are conducted are discussed. The course then considers some of the underlying trends in trade towards the use of preferential and plurilateral rather than multilateral approaches. Finally the course covers some of the main topics in current negotiations including in particular agriculture and food security, trade in manufactures, services and investment as well as the inter-relationship between trade and sustainable development.