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ES20020: International economics

Follow this link for further information on academic years Academic Year: 2013/4
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6
Further information on unit levels Level: Intermediate (FHEQ level 5)
Further information on teaching periods Period: Semester 2
Further information on unit assessment Assessment: EX 100%
Further information on supplementary assessment Supplementary Assessment: ES20020 Resit Examination (where allowed by programme regulations)
Further information on requisites Requisites: Before taking this unit you must take ES20011 and take ES20013
Further information on descriptions Description: Aims:
The aim of the course unit is to introduce theory relevant for analysis of the economics of open economies. Theory is applied to current issues relating to international trade, international movement of factors of production and international monetary economics. This course unit can be studied as a self-contained module but it also forms a useful introduction to a more specialist stream in ES30034 International Monetary Economics and ES30033 International Trade in the final year of degree programmes.

Learning Outcomes:
Students will have developed a fuller knowledge and understanding of the international economy, and the relevance of theory. They will have acquired greater awareness of economic debates, especially as these relate to developing countries.

Students will become skilled in understanding and applying theory, which will be tested in a written examination.

The first part of the unit focuses on international trade theory and applications. Topics include: comparative advantage and the gains from trade; costs of protection; trade taxation as a revenue source; the optimum tariff and its relevance for exports from developing countries; the infant industry argument; import substitution and export promotion policies; the welfare effects of international movement of factors of production; multinational investment; emigration and the 'brain drain' from developing countries.
The second part of the unit focuses on international monetary economics. Topics include: the nature and significance of the balance of payments; parity concepts; devaluation; open economy macroeconomics; international policy co-ordination; international debt and models of exchange rate crises.
Key Texts: KRUGMAN, P. R, and OBSTFELD, M. International Economics, 7th edition, Addison Wesley, 2005.
Further information on programme availabilityProgramme availability:

ES20020 is Compulsory on the following programmes:

Department of Economics
  • UHES-AFB02 : BSc (hons) Economics and International Development (Full-time) - Year 2
  • UHES-AKB02 : BSc (hons) Economics and International Development (Full-time with Thick Sandwich Placement) - Year 2

ES20020 is Optional on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc (hons) Economics (Full-time) - Year 2
  • UHES-AKB03 : BSc (hons) Economics (Full-time with Thick Sandwich Placement) - Year 2
  • UHES-AFB01 : BSc (hons) Economics and Politics (Full-time) - Year 2
  • UHES-AKB01 : BSc (hons) Economics and Politics (Full-time with Thick Sandwich Placement) - Year 2

* This unit catalogue is applicable for the 2013/4 academic year only. Students continuing their studies into 2014/15 and beyond should not assume that this unit will be available in future years in the format displayed here for 2013/14.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.