Module ECON3071: INTERNATIONAL ECONOMICS

Department: Economics

ECON3071: INTERNATIONAL ECONOMICS

Prerequisites

• Macroeconomics (ECON2011) AND Microeconomics (ECON2021) OR Economic Theory (ECON2291)

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• 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.

Content

• Topics in international trade and international finance such as the following:
• Ricardian Trade Theory
• Heckscher-Ohlin Trade Theory
• Gravity Models
• Models of exchange rate determination
• Currency Crises
• Intertemporal approach to the current account
• Globalisation
• International Labour Migration

Learning Outcomes

• 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.
• Enrich students’ engagement with a more equitable and sustainable world by addressing topics such as the sustainability of the current account.

• Be able to solve models of international trade and international finance.
• Be able to apply international trade and finance theories to practical problems.

• Written Communication - through summative assessment.
• Group work and presentation skills - though group presentation at seminars.
• 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 and seminars. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment to help perpare for the exam. Summative assessment is by means of an in-person examination and a written assignment.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Via group presentation during seminars (work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on Learn Ultra) and one piece of written work.

■ 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