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Department of Economics

International Economics

Course Code:
153400106
Unit value:
1
Year of study:
Year 2
Taught in:
Full Year
This course provides a critical overview of theoretical, empirical and policy issues relating to international economics.  The first part of the course provides an introduction to the main theories of international trade, including standard neoclassical free trade approaches and recent theories addressing imperfect competition, economies of scale, national competitiveness issues, and managed trade.  It also discusses topics in international trade such as the effects of trade on income distribution and poverty, the debate about import substitution and trade protection, and alternative approaches to trade policy.  Part 2 covers topics in international macroeconomics and finance, including inter alia, the balance of payments, exchange rate policy, globalisation and international capital flows, financial crises and regionalism.   

Prerequisites

15 340 0003 - Introduction to Economic Analysis

Objectives and learning outcomes of the course

On successful completion of the course, students will be able to:

  • Have a good conceptual understanding of the key concepts and practical applications of both international trade and international finance.
  • Outline the development trade theory historically, differentiating standard classical and orthodox trade theories.
  • Analyse the links between trade, international finance, economic growth and globalisation, with a particular emphasis on the experiences of developing countries.  
  • Critically comment on and participate in current debates on international economic policy.

Workload

The weekly programme consists of one two-hour lecture, held on Mondays from 3pm to 5pm and a weekly one-hour tutorial. Students must attend both the tutorials and the lectures. The tutorials aim to discuss some of the key issues raised in the lecture in greater depth. Students might be asked to make short presentations on the discussion question assigned for the tutorial.

Method of assessment

Assessment weighting: Exam 80% / Coursework 20%. Resubmission of coursework regulations do not apply to this course.

Suggested reading

  • Krugman, Paul R., Maurice Obstfeld and Marc Melitz (2011):  International Economics:  Theory and Policy, 9th edition, Pearson Education