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| Module Availability |
| Autumn |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark (%)
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| 2 hour Examination |
70
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| Coursework |
30
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Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module |
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| Module Overview |
| The module broadly covers two parts. In the first part we concentrate on the theoretica foundations of international trade, i.e. address the questions "Why do we trade" and "is trade good for us?". In the second part we focus on the policy instruments that are available to the designers of trade policy; our analysis involves issues related to the potential costs and/or benefits to a range of stakeholders of trade barriers, e.g. tariffs and quotas |
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| Prerequisites/Co-requisites |
| None |
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| Module Aims |
| The aim of this course is to introduce the workings of an open economy |
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| Learning Outcomes |
By the end of this module students will:-
- have an understanding of the theory of international trade
- be able to discuss trade policy issues
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| Module Content |
| Adam Smith's theory of absolute advantage, Ricardo's theory of comparative advantage, Heckscher-Ohlin theory, economics of scale, monopolistic competition and trade, oligopoly and trade, growth and trade, tariffs, import quotas, voluntary export restraints, WTO, dumping, trade blocks, trade and the environment, policies for developing countries |
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| Methods of Teaching/Learning |
| Lectures (11) |
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| Selected Texts/Journals |
The course will closely follow Thomas A. Pugel's 13th edition of International Economics, 2007, McGraw Hill, ISBN-10: 0071107274
Krugman and Obstfield's International Economics: Theory and Policy, 2006, Edison Wesley, ISBN-10, 0321461835 can be used for supplementary reading
A slightly more advanced textbook with a European focus is International Economics Theory, application, and policy by Charles van Marrewijk, 2006, Oxford University Press, ISBN-10 0199280983 |
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| Last Updated |
10 March 2011 |
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