Durham University
Programme and Module Handbook

Undergraduate Programme and Module Handbook 2005-2006 (archived)




Type Open Level 3 Credits 20 Availability Available in 2005/06 Module Cap None. Location Durham


  • Economic Principles I: Macroeconomics (ECON2011) AND Economic Principles II:Microeconomics (ECON2021).


  • None.

Excluded Combination of Modules

  • None.


  • To provide, by building on the skills and knowledge from level 2, an understanding of traditional and modern theories of international trade and international finance. In addition, it seeks to provide students with the skills necessary to appreciate and discuss policy issues, through the presentation of seminar papers and the delivery of formative and summative essays and an unseen examination.


  • The module is divided into two parts: (1) Trade Theory and Policy, (2) International Monetary Economics.
  • Trade Theory includes the traditional Heckscher Ohlin model plus more modern theories about trade based on technology differences, the role of multinational companies and the effects of Direct Foreign Investment.
  • Trade Policy includes the role of GATT and trade conflicts between the EU, the USA and Japan.
  • International Monetary Economics includes foreign exchange markets, fixed and flexible exchange-rate regimes, optional currency arrangements and European monetary union.

Learning Outcomes

Subject-specific Knowledge:
  • At the end of the module students should:
  • Understand knowledge of how well theories can explain actual trade and understand finance flows
  • Understand positive and normative theories of international trade and international finance
Subject-specific Skills:
  • Be able to solve simple models of international trade and international finance
  • Be able to apply international trade and finance theories to practical problems
Key Skills:
  • Written Communication - through summative assessment.
  • Planning, Organisation and Time Management - preparing for examinations.
  • Problem Solving and Analysis - e.g. by applying the necessary analytical and quantitative skills, as well as the ability to manipulate concepts in international trade and finance, in undertaking assessed work.
  • Numeracy - e.g. by applying core mathematical and statistical skills to answer a range of examination questions.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lectures, tutorials and support for student-centred learning. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes and private study (inlcuding student-centred learning). Formative assessment is by means of one group presentation. Summative assessment is by means of an unseen written examination of one and a half hours duration plus a 2500 word essay/project.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 22 1 per week 1 hour 22
Tutorials 8 Fortnightly 1 hour 8
Preparation and Reading 170
Total 200

Summative Assessment

Component: Examination Component Weighting: 67%
Element Length / duration Element Weighting Resit Opportunity
one one-and-a-half-hour written examination 100%
Component: Essay/Project Component Weighting: 33%
Element Length / duration Element Weighting Resit Opportunity
one assessed essay/project of approximately 2500 words 100%

Formative Assessment:

One group presentation.

Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University