Foreign trade and development
- Course Code:
- Unit value:
- Year of study:
- Year 2
- Taught in:
- Full Year
This course provides a critical overview of theoretical, empirical and policy issues relating to international trade and development. The course is divided into four parts spread over two terms.
- Part I starts with an introductory session situating trade theory historically in economics. It proceeds to a more detailed discussion of standard classical and orthodox trade theory followed by more recent attempts at theorising international trade.
- Part II focuses on explanations of the links between trade, economic growth and globalisation. This will be covered in the first term.
- Part III provides a detailed review of the political economy of globalisation and trade liberalisation in the light of developing country experiences.
- Part IV closes with a survey of exchange rates and open economy macroeconomics. This will be covered in the second term.
Objectives and learning outcomes of the course
On successful completion of the course, students will be able to:
- Outline the development of trade theory historically, differentiating standard classical and orthodox trade theories
- Analyse the links between trade, economic growth and globalisation
- Relate the political economy of globalisation and trade liberalism to the experience of developing countries
WorkloadThe 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 assessmentAssessment weighting: Exam 80% / Coursework 20%. Resubmission of coursework regulations do not apply to this course.
- Krugman, Paul and Maurice Obstfeld. International Economics; Theory and Practice. Seventh Edition. Pearson Addison Wesley: 2006
- Salvatore, Dominick. International Economics, Sixth Edition. Prentice Hall 1998.