This module provides an advanced introduction to the core of international trade theory. Attention is paid to the use and relevance of various economic models in explaining international trade patterns and evaluating international trade policy. The main areas covered are: the Ricardian model of comparative advantage; neoclassical production and trade; factor endowments and trade; market structure, imperfect competition and trade and the theory of trade policy. Attention is also paid to the empirical evidence relating to these theories, and to what degree it provides support for them.
Learning Outcomes
By the end of the module students should be able to:
demonstrate a critical understanding of central international trade theories explaining the patterns of trade, and the empirical evidence relating to these theories;
examine and evaluate the effects of trade and trade-related policies on welfare;
apply partial and general equilibrium models to analyse international trade.
Assessment
28540-02 : Exam : Exam (Centrally Timetabled) - Written Unseen (50%)
28540-04 : Online Assessment 1 : Class Test (25%)
28540-05 : Online Assessment 2 : Class Test (25%)
Assessment Methods & Exceptions
Assessments: 2 x 48hr online assessments (25% each), 1-hour final exam (50%)
Reassessment: by failed element