Aims: The aim of the Unit is to provide an economic perspective on issues relating to international trade.
Learning Outcomes:
The learning outcome is that, at the end of the course unit, students will understand the way in which economic theory can be applied to issues such as (i) why countries engage in international trade (ii) how the pattern of trade flow is determined (iii) why countries adopt trade restraints (iv) why countries join customs unions. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in International Economics, with EC30027 International Monetary Economics.
Skills:
Analytical skills are facilitated (i.e. skills of value beyond the subject matter), e.g. the use and evaluation of arguments, logical reasoning. Investigative (research) skills and skill in time management are facilitated. An enhanced understanding of economic analysis and skill in presentation is assessed.
Content:
After an introduction to basic concepts, the topics discussed will include: comparative advantage; the gains from trade; adjustment costs; the Heckscher-Ohlin-Samuelson model; the specific factors model; theories of intra-industry trade; the costs of protection, smuggling, trade taxes as a revenue source; the optimum tariff; export subsidies; international cartels, quotas and voluntary export restraint; international integration; multinational enterprises and the welfare effects of the international movement of factors of production.
|
