International Economics
| Module title | International Economics |
|---|---|
| Module code | BEE3045 |
| Academic year | 2019/0 |
| Credits | 15 |
| Module staff | Professor Steve McCorriston (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 48 |
|---|
Module description
Summary:
International economics embraces a wide range of issues. These include questions such as why countries find it desirable to engage in international trade, the factors determining the sectors/industries in which they will specialise, the role of ‘new’ trade theory in explaining the gains from trade, the desire of some countries to protect certain sectors from international competition, the reasons for countries wanting to form or join regional trading arrangements, the economics of trade policy, the World Trade Organisation, This module will discuss theoretical and policy issues associated with the above topics.
Additional Information:
Internationalisation
This module has a global perspective and addresses some of the major issues affecting the world economy today. These include: how domestic economy is affected by globalisation, how globalisation impacts the well-being of citizens across develop and developing countries, and whether more open economies grow faster than others.
Employability
Students develop their understanding of economics, improve their analytical skills, presentation and discursive skills, and their critical appraisal of recent research in policy issues.
Sustainability
All of the resources for this module are available on the ELE (Exeter Learning Environment). There will also be a regularly updated blog highlighting various issues which have appeared in the media and are relevant to the module.
Module aims - intentions of the module
International economics embraces a wide range of issues covering both international trade in goods and foreign direct investment (FDI). These include questions such as why countries find it desirable to engage in international trade, the factors determining the sectors/industries in which they will specialise, the role of 'new' trade theory in explaining the gains from trade, the economics of off-shoring, the desire of some countries to protect certain sectors from international competition, the reasons for countries wanting to form or join regional trading arrangements, the economics of trade policy including recent research themes, the World Trade Organisation and the determinants of foreign direct investment. This module will discuss theoretical and policy issues associated with the above topics with the overall aim that students will develop analytical skills in addressing current policy issues in international economics.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. demonstrate how to apply economics principles to a wide range of issues in international economics
- 2. demonstrate how to apply economic reasoning to global policy issues in a critical manner
- 3. demonstrate knowledge of the current issues in economics, an appreciation of how economists address international economic issues and be familiar with current research issues in international economics
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. explain and discuss the economic basis behind current policy debates in international economics
- 5. critically address different policy proposals in addressing issues arising in international economics
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 6. deliver coherent argument in written work, including coherent arguments for assessing complex policy issues in the global economy
- 7. demonstrate analytical and critical thinking
- 8. develop presentation skills in addressing theoretical and empirical issues in international economics
Syllabus plan
• Importance of trade in the world economy and overview of current policy issues;
• The gains from trade;
• What determines specialisation? Ricardian and Heckscher-Ohlin-Samuelson models of comparative advantage;
• Empirical tests of the Hecksher-Ohlin-Samuelson model;
• Current policy issue: trade, labour markets and wages;
• Current policy issue: Off-shoring and labour markets
• ‘New’ trade theory: trade with imperfect competition
• Trade policy: reasons, extent and effects of trade policy protection;
• Measurement and instruments of protection;
• Trade liberalisation and the WTO;
• New issues in trade policy analysis: (i) strategic trade policy;
• New issues in trade policy analysis: (ii) trade and the environment;
• Regional trading arrangements
• Foreign Direct Investment
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 25 | 125 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activities | 20 | Lectures |
| Scheduled Learning & Teaching Activities | 5 | Tutorials |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 20 | 80 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Examination | 80 | 2 hours | 1-8 | Written feedback |
| Critical Essay | 20 | 1200 words | 1-8 | Written feedback |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Examination & Essay | Examination (100%) | 1-8 | Aug/Sep |
Indicative learning resources - Basic reading
P R Krugman and M Obstfeld, International Economics: Theory and Policy, 6th edition (2008)
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | BEE2025
|
| Module co-requisites | None |
| NQF level (module) | 6 |
| Available as distance learning? | No |
| Origin date | 01/09/2007 |
| Last revision date | 24/07/2018 |