INTERNATIONAL TRADE - 2024/5
Module code: ECOM046
The module examines theories of international trade as well as selected empirical evidence relating to these theories.
BREINLICH Holger (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
Module cap (Maximum number of students): N/A
Overall student workload
Workshop Hours: 10
Independent Learning Hours: 90
Lecture Hours: 10
Guided Learning: 30
Captured Content: 10
Prerequisites / Co-requisites
Indicative content includes:
An overview of world trade and an introduction to the gravity model
Labour productivity and comparative advantage: 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
Controversies in trade policy
|Unit of assessment
|EXAMINATION (120 MIN) (ONLINE WITHIN 4HR WINDOW)
The assessment strategy is designed to provide students with the opportunity to demonstrate
- their skills in working with microeconomic models of trade
- their knowledge of how to apply these models to important policy questions
- their understanding of the empirical evidence related to these models.
The coursework essay and the literature search required for this will allow students to learn to judge whether digital information is trustworthy and relevant; they will also learn to distinguish different kinds of information (e.g., grey literature vs. peer-reviewed academic articles) and to independently assess their quality. This will help students to build their digital capabilities.
Selected coursework essay questions will also require the collection and interpretation of data from digital sources, further allowing student to build their digital capabilities.
All coursework essays will enhance students’ resourcefulness by requiring them to share informed opinions constructively when writing their essay, and to use evidence to do so.
Thus, the summative assessment for this module consists of:
Students are assessed through a coursework essay and a final examination.
Students will select an essay title from a list of three topics for the 3,000-word coursework essay. This essay accounts for 30% of the final mark.
The final examination (2 hours) accounts for 70% of the final mark.
Formative assessment and feedback
Students will receive verbal feedback during lectures and written feedback on their coursework essay, both on the final submitted essay as well as on earlier outlines. There will also be a practice exam towards the end of the semester which will take a similar form as the final examination, helping students to prepare for that final examination.
- 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.
|Be able to use theoretical and applied microeconomics to investigate how international trade and economic policies are shaping the global economy
|Be capable of analysing, both theoretically and empirically, the forces (including economic policies) which explain observed patterns of trade and their implications for the global distribution of income
|Be able to use data and existing research to analyse questions in international trade, such as the implications for economic welfare of the major tools of trade policy
|Understand the methods by which trade theories are tested and gain familiarity with the KCT findings in the literature. Be able to use this knowledge to form opinions on current topics in trade policy and international trade more generally
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
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. These learning objectives will be achieved through a combination of theoretical lectures, tutorial exercises and directed self-study. The lectures will provide an overview of the material which the students then follow-up on with directed self-study, using textbooks and selected original articles from the international trade literature. Finally, the tutorial exercises will provide a mixture of quantitative exercises and more open-ended discussion, which will allow students to apply and deepen their learning..
The learning and teaching methods include:
Lectures per week x 10 weeks
Tutorials 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.
Upon accessing the reading list, please search for the module using the module code: ECOM046
In line with the University's curriculum framework, the School of Economics is committed to developing graduates with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills, and capabilities in the following areas:
The coursework essay the students have to write for this module will enhance students’ digital capabilities in the following ways: First, the literature search required for the essay will allow students to learn to judge whether digital information is trustworthy and relevant; they will also learn to distinguish different kinds of information (e.g., grey literature vs. peer-reviewed academic articles) and to independently assess their quality. Secondly, Selected coursework essay questions will also require the collection and interpretation of data from digital sources.
Resourcefulness and Resilience
All coursework essays will enhance students’ resourcefulness by requiring them to share informed opinions constructively when writing their essay, and to use evidence to do so. During the course of the module, students will be trained to understand the methods by which trade theories are tested and gain familiarity with the findings in the literature (see LO4) . This will help them to form opinions on current topics in trade policy and international trade more generally and hence enable them to share informed opinions constructively when writing their essay.
Programmes this module appears in
|Economics (International Economics) MSc
|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 2024/5 academic year.