The aim of this module is to provide a detailed coverage of the nature and determinants of the pattern of world trade and financial, capital and labour flows.  The module also aims to provide students with a critical appreciation of why conflicts arise between nations due to international economic activity and what policy options are most appropriate for countries both individually and cooperatively to adopt.  Throughout the module emphasis will be placed upon the role of theory in enhancing understanding of the patterns and nature of trade flows (in the context of both goods and services) in the context of the key issues in international economic relations.

(LO1) Students will be able to explain why countries gain from trade and what pattern of trade flows exist using classic trade theories.

(LO2) Students will be able to explain why countries engage in trade protection, as well as predict and analyze the consequences that arise in case such protection is applied

(LO3) Students will be able to explain how key flows of goods, services, money and physical capital are valued.  They will be able to use real and nominal exchange rates, understand, explain and apply the concept of PPP.

(LO4) Students will be able to explain the reasons why trade blocs are formed and analyze and explain their costs and benefits.  They will also be able to distinguish between trade blocs among countries of similar as well as different development levels.  

(LO5) Students will be able to explain why conflicts arise in the areas of labour migration and environmental pollution and suggest policy responses which may be used to correct such problems

(LO6) Students will be able to explain the causes and consequences of financial crises and how financial contagion can spread from one country to another

(LO7) Students will be able to explain the links between trade and capital flows and economic development using examples of the Latin American and East Asian countries

(S1) Problem-solving skills

(S2) numeracy

(S3) commercial Awareness

(S4) Communication skills

(S5) It skills

(S6) International awareness

(S7) Lifelong learning skills

(S8) Ethical awareness

Teaching Method 1 - Lecture
Description: Lectures will be designed to provide essential information and introduce students to the basic tools of analysis, including some basic practice in applying the techniques.
Scheduled Directed Student Hours: 22
Attendance Recorded: Yes

Teaching Method 2 - Seminar
Description: Seminars will be based around studying key papers in the discipline, case studies and some structured questions and problem sets. This is intended to develop not only understanding of the topic, but also the critical evaluation skills of students.
Scheduled Directed Student Hours: 5
Attendance Recorded: Yes

Self-Directed Learning Hours: 123
Description: The coursework assessment regime is designed to provide students with regular reinforcement of learning in key topics as well as rapid diagnostic feedback on how they are progressing with their studies. Each of the three online assignments will provide students with an opportunity to assess their understanding each of the three main module blocks. Module materials, including lecture notes, lecture slides and seminar question sheets will be made available on VITAL a few days in advance of the relevant class. Throughout the course, some handouts will be issued of key articles and case studies where these are not easily obtainable via the internet.

Costs Information:
No specific costs associated with this module

There are the following non-modular requirements:
ECON254 or equivalent module

Skills/Other Attributes Mapping

Skills / attributes: Ethical awareness
How this is developed: lectures
Mode of assessment (if applicable)

Skills / attributes: Lifelong learning skills
How this is developed: seminars
Mode of assessment (if applicable)

Skills / attributes: International awareness
How this is developed: lectures and seminars
Mode of assessment (if applicable)

Skills / attributes: It skillsHow this is developed: lectures and on-line assignments
Mode of assessment (if applicable): On-line assignments

Skills / attributes: Communication skills
How this is developed: seminars
Mode of assessment (if applicable)

Skills / attributes: commercial Awareness
How this is developed: lectures and on-line assignments
Mode of assessment (if applicable): On-line assignments

Skills / attributes: numeracy
How this is developed: lectures, seminars and on-line assignments
Mode of assessment (if applicable): Examination

Skills / attributes: Problem-solving skills
How this is developed: lectures, seminars, on-line assignments
Mode of assessment (if applicable): On-line assignments

Key global issues and the valuation of international economic activity;

Classic theories of trade;

Multi-nationals; intra-industry trade (new trade theory);

Common methods of trade protection and their economic consequences;

The political economy of trade protection;

International trade and labour and environmental standards;

Regional trade blocs and the example of the North American Free Trade Association;

The European Union and its Current Crisis;

Trade, policy reform and economic development in Latin America and South-East Asia.