Module ECON3071: International Economics

Department: Economics

ECON3071: International Economics

Tied To

• CFC0: Natural Sciences (Psychology pathway)
• CFC1: Natural Sciences (Psychology pathway) with Year Abroad
• CFC2: Natural Sciences (Psychology pathway) with Placement
• CFG0: Natural Sciences
• CFG1: Natural Sciences with Year Abroad
• CFG2: Natural Sciences with Placement
• FGC0: Natural Sciences
• FGC1: Natural Sciences with Placement
• L100: Economics
• L103: Economics with Management
• L104: Economics with Management with Placement Year
• L105: Economics with Management with Study Abroad
• L106: Economics with Placement Year
• L109: Economics with Study Abroad
• L130: Economics
• L131: Economics with Placement Year
• L132: Economics with Study Abroad
• L133: Economics with Management
• L134: Economics with Management with Placement Year
• L135: Economics with Management with Study Abroad
• L1R1: Economics with French
• LA01: Liberal Arts
• LA02: Liberal Arts (with Year Abroad)
• LA03: Liberal Arts (with Placement Year)
• LL01: Economics and Politics with Study Abroad
• LL02: Economics and Politics with Placement Year
• LL12: Economics and Politics
• LMV0: Combined Honours in Social Sciences
• LMVA: Combined Honours in Social Sciences (with Year Abroad)
• LMVP: Combined Honours in Social Sciences (with Placement Year)
• VL52: Philosophy, Politics and Economics
• VLL6: Philosophy, Politics and Economics with Placement Year
• VLLA: Philosophy, Politics and Economics with Study Abroad

Pre-requisites

Corequisites

Excluded Combinations

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 tutorials.
• 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 tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment to help prepare for the exam. Summative assessment is by means of an in-person examination.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

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