INTERNATIONAL TRADE THEORY - 2017/8

Module code: ECOM046

Module provider

Economics

Module Leader

PETROPOULOU D Dr (Economics)

Number of Credits

15

ECT Credits

7.5

Framework

FHEQ Level 7

JACs code

L160

Module cap (Maximum number of students)

N/A

Module Availability

Semester 2

Overall student workload

Lecture Hours: 20

Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test IN-SEMESTER TEST - 60 MINUTES 25%
Examination EXAMINATION - 2 HOURS 75%

Alternative Assessment

Not applicable.

Prerequisites / Co-requisites

None

Module overview

The module examines the theories and empirical relevance of microeconomic models of international trade.

Module aims

demonstrate how microeconomic models can be used to examine the role of international trade, technology, and international investment in an increasingly integrated global economy

Learning outcomes

Attributes Developed
Use advanced theoretical and applied microeconomics to investigate how international trade, investment, and economic policies are shaping the global economy
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
Understand the implications for welfare of the major tools of trade policy
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.

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Module content

Indicative content includes:



Models of intra-industry trade:



The Ricardian Model of trade


The 2x2x2 Heckscher-Ohlin model and Specific FactorsModels.


The 2xnxm Heckscher-Ohlin model; HOV




Models of inter-industry trade:



Krugrman (1990), Krugman (1978), Brander-Krugman model


Melitz (2003)




Trade policy under perfect and imperfect competition


Methods of Teaching / Learning

The learning and teaching strategy is designed to:

This module develops and uses economic models to examine the roles of international trade in an increasingly integrated global economy. The main focus will be on the conventional theory of trade between countries, considering also the part played by technological change, economic policy, and market imperfection. The historical role and development of the World Trade Organization and of Preferential Trade Agreements between countries will also be considered. The teaching strategy will be based on theoretical lectures and on the study of academic journals.

The learning and teaching methods include:


Lectures (2 hour lecture per week x 10 weeks)
General and small group discussions, Question and answer interactive format, Directed self-study

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate

Their skills in working with microeconomics models of trade. The assessment strategy for this module consists of a mid term class test where student should demonstrate their skills in problem solving and uses of theory models to analyse trade policies and of a final exam in which the students will have to demonstrate their knowledge of the literature and recent advances in trade theory.

Thus, the summative assessment for this module consists of:


A mid term class test in week 6 covering material from weeks 1-4.
A final examination (2 hours) at the end of Semester 2


Formative assessment and feedback:  Students will receive verbal feedback during lectures and written feedback on their mid-term class test.

Reading list

Reading list for INTERNATIONAL TRADE THEORY : http://aspire.surrey.ac.uk/modules/ecom046

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.