INTERNATIONAL TRADE THEORY - 2018/9

Module code: ECOM046

Module Overview

The module examines theories of international trade as well as selected empirical evidence relating to these theories.

Module provider

Economics

Module Leader

BREINLICH H Prof (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

JACs code: L160

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

None

Module content

Indicative content includes:



Comparative Advantage and the Ricardian Model


The Specific Factors Model


The Heckscher-Ohlin Model


The Standard Trade Model


Firms in the Global Economy


Trade Policy: Instruments & Political Economy


Trade Policy in Developing Countries


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.

Assessment Strategy

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

Their skills in working with microeconomics models of trade and their knowledge of the empirical evidence related to these models. The assessment strategy for this module consists of a mid-term class test where students 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.

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.
  • Explore selected empirical tests of microeconomic trade models, in order to understand the methods by which trade theories are tested and to gain familiarity with the findings in the literature.

Learning outcomes

Attributes Developed
001 Use theoretical and applied microeconomics to investigate how international trade 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 their implications for the global distribution of income. KCP
003 Understand the implications for economic welfare of the major tools of trade policy. KCPT
004 Understand the methods by which trade theories are tested and gain familiarity with the findings in the literature. KCT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Independent Study Hours: 130

Lecture Hours: 20

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

This module develops and uses economic models to examine the role of international trade in an increasingly integrated global economy. We will also examine empirical evidence related to these models. The teaching strategy will be based on theoretical lectures, in-lecture exercises and discussion, as well as on directed self-study.

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

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

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

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics MSc 1 Optional A weighted aggregate mark of 50% is required to pass the module
International Economics, Finance and Development MSc 1 Compulsory 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 2018/9 academic year.