Course finder
Semester 1
International Economics (ECNM10087)
Subject
Economics
College
CAHSS
Credits
20
Normal Year Taken
3
Delivery Session Year
2023/2024
Pre-requisites
Visiting students must have completed the equivalent of at least 4 semester-long Economics courses at grade B or above for entry to this course. This MUST INCLUDE courses in: Intermediate Macroeconomics (with calculus); Intermediate Microeconomics (with calculus); Probability & Statistics. If macroeconomics and microeconomics courses are not calculus-based, then, in addition, Calculus (or Mathematics for Economics) is required at grade B or above. Please see Additional Restrictions below.
Course Summary
The course is divided into two parts: (i) International trade and (ii) International macroeconomics. In the first part, the course introduces a number of models that help us understand the reasons why countries trade goods and services. Empirical evidence is provided to highlight the strengths and limitations of the introduced theories. In the second part, the course explores topics linked to the global macroeconomy. It presents a framework to analyse how the interdependence among countries shapes their economy-wide variables and draws links between theory and real world events. The aim of the course is to develop a systematic understanding of key issues related to international economics and show how economic theory can be employed to analyse large-scale economic problems in interdependent economies.
Course Description
Topics covered will include: Key stylized facts of international trade; Gains of trade and the law of comparative advantage; Core models of international trade to overview different explanations on observed trade patterns (Ricardian model, Specific-factor model, Hecksher-Ohlin model); Exchange rates, currency crises; Balance of payments, debt and deficit. The course is taught through a programme of lectures and tutorials. Part of the course content requires students to familiarise themselves with technical material, and knowledge of elementary calculus and statistics will be assumed.
Assessment Information
Written Exam 85%, Coursework 15%, Practical Exam 0%
Additional Restrictions
It is not suitable for students to take this course alongside Economics 2 (ECNM08006).
view the timetable and further details for this course
Disclaimer
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