This document discusses international trade law and theories of international trade. It begins by defining international trade and outlining the key developments that led to its growth, such as the industrial revolution, imperialism, and advances in transportation and technology. It then lists several advantages and disadvantages of international trade. The main body of the document outlines six economic theories of international trade law: Mercantilist Theory, Classical Theory (including Absolute and Comparative Cost Advantage), Heckscher-Ohlin Theory, and several New Trade Theories including Neo-Technological, Intra-Industry, and Strategic Trade Policy models. Each theory is concisely described.