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| Module Availability |
Spring |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark (%)
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| 2 hour Examination |
75
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| Coursework |
25
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Qualifying Condition(s)
A weighted aggregated mark of 50% is required to pass the module |
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| Module Overview |
The module examines the theories and emperical relevance of micro-models of international trade and investment |
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| Prerequisites/Co-requisites |
None |
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| Module Aims |
This module aims to demonstrate how micro-economic models can be used to examine the role of international trade, technology, and international investment in an increasingly integrated global economy |
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| Learning Outcomes |
By the end of the module students will:-
Be able to use advanced theoretical and applied microeconomics to investigate how international trade, investment, and economic policies are shaping the global economy
Be able to analyse, both theoretically and empirically, the forces (including economic policies) which explain observed patterns of trade and location and their implications for the global distribution of income
To understand the implications for welfare of the major tools of trade policy
Be able to analyse factor trade and the reasons for the multi-national activity of firms and to comprehend the implications of such activity for international trade and technological change.
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| Module Content |
- The geometry of international trade, production functions and production possibilities, community indifference curves.
- Comparative advantage models of the causes and consequences of trade: Ricardian, Heckscher Ohlin and Specific Factor Models.
- Increasing returns and the monopolistic competition model of trade; other models of imperfect competition and trade.
- Aspects of trade policy – welfare analysis of tariff and non-tariff barriers
- Factor movements; Portfolio/foreign direct investment; multi-national activity
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| Methods of Teaching/Learning |
Lectures (20 hrs) |
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| Selected Texts/Journals |
The recommended text for the module is:
J.R. Markusen et al, International Trade: Theory and Evidence. An alternative is P. Krugman, M Obstfeld International Economics: Theory and Policy (latest edition chapters on trade only).
J.N. Bhagwati and A. Panagiriya Lectures on International Trade is also extremely useful.
N. Grimwade International Trade: new patterns of trade, production and investment (2nd edition) provides a good thematic introduction to many of the topics.
Journal articles and the National Bureau of Economic Research Working Paper series form an important component of the reading for this module. |
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| Last Updated |
10 March 2011 |
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