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BAEcon Economics and Finance / Course details

Year of entry: 2021

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 or ECON20501 or ECON20021

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

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