- UCAS course code
- LN13
- UCAS institution code
- M20
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Course unit details:
International Trade and Policy
| Unit code | ECON32191 |
|---|---|
| Credit rating | 20 |
| Unit level | Level 3 |
| Teaching period(s) | Semester 1 |
| Offered by | School of Social Sciences |
| Available as a free choice unit? | Yes |
Overview
The aims of this course are to: (i) study the basic facts of international trade flows; (ii) discuss different international trade theories, their empirical evidence and policy implications; (iii) introduce methods for trade policy analysis.
At the end of this course unit it is expected that students will be able to: (i) understand the causes and effects of international trade; (ii) evaluate the welfare impacts of trade policies; (iii) demonstrate an understanding of various contemporary issues in trade, such as trade and growth, industrialisation, inequalities and global production structure.
Pre/co-requisites
| Unit title | Unit code | Requirement type | Description |
|---|---|---|---|
| Managerial Economics I | ECON20001 | Pre-Requisite | Compulsory |
| Microeconomic Analysis 3 | ECON20501 | Pre-Requisite | Compulsory |
| Microeconomics 3 | ECON20021 | Pre-Requisite | Compulsory |
ECON20001 Managerial Economics or ECON20501 Micro Analysis 3 or ECON20021 Micro 3
Aims
The aims of this course are to:
1. Study the basic facts of international trade flows.
2. Discuss different international trade theories, their empirical evidence and policy implications.
3. Introduce methods for trade policy analysis.
Learning outcomes
At the end of this course unit. it is expected that you will be able to:
1. Understand the causes and effects of international trade.
2. Evaluate the welfare impacts of trade policies.
3. Demonstrate an understanding of various contemporary issues in trade, such as trade and growth, industrialisation, inequalities and global production structure.
Syllabus
Topic 1: The Ricardian Model and Comparative Advantage
Topic 2: The Heckscher-Ohlin Model and Distributional Effects of Trade
Topic 3: Facts on Intra-Industry Trade and the Monopolistic Competition Models
Topic 4: Heterogeneous Firms and the Organization of Firms
Topic 5: Trade Policy Instruments: Welfare Impacts and Political Economy
Topic 6: Gravity Model and Policy Analyses
Teaching and learning methods
Lectures and exercise classes.
Employability skills
- Analytical skills
- Understand the motivation from data and why we need different economic models. How to use existing models to understand past and current events in the world economy.
- Problem solving
Assessment methods
30% Assignments
70% Exam
Feedback methods
- Weekly problem sets.
- Class feedback.
- Office hours.
- Revision sessions.
Recommended reading
Krugman, P., Obstfeld, M., and Melitz, M.J. 2015. International Trade: Theory and Policy (or equivalently, International Economics: Theory and Policy, Ch.1-12), 10th Edition, Pearson.
McLaren, J. 2013. International Trade, 1st Edition, John Wiley & Sons.
Study hours
| Independent study hours | |
|---|---|
| Independent study | 0 |
Teaching staff
| Staff member | Role |
|---|---|
| Hei Sing Chan | Unit coordinator |
Additional notes
For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary