International Economics (Diploma)
- Module Code:
- Unit value:
- 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.
Objectives and learning outcomes of the module
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 of 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.
Method of assessment
Assessment weighting: Exam 70%, coursework 30% (two essays, 15% each). Resubmission of coursework regulations do not apply to this course.
Krugman, Paul R., Maurice Obstfeld and Marc Melitz (2011): International Economics: Theory and Policy, 9th edition, Pearson Education.