Module code: ECOM046

Module provider


Module Leader

PETROPOULOU D Dr (Economics)

Number of Credits


ECTS Credits



FHEQ Level 7

JACs code


Module cap (Maximum number of students)


Module Availability

Semester 1

Overall student workload

Independent Study Hours: 130

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


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
001 Use advanced theoretical and applied microeconomics to investigate how international trade, investment, and economic policies are shaping the global economy KCT
002 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 KCP
003 Understand the implications for welfare of the major tools of trade policy KCPT
004 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. KC

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


Programmes this module appears in

Programme Semester Classification Qualifying conditions
International Economics, Finance and Development MSc 1 Compulsory A weighted aggregate mark of 50% is required to pass the module
Economics MSc 1 Optional A weighted aggregate mark of 50% is required to pass the module

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.