ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title INTERNATIONAL ECONOMIC RELATIONS
Code ECON354
Coordinator Dr B Murakozy
Economics
Balazs.Murakozy@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 6 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

ECON254 THEORY OF THE FIRM 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours   12

      24

12

48
Timetable (if known)              
Private Study 102
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: On-line assignments Assessment Type: Practical Assessment Duration/Size: 6 online assessments with 10 questions each Weighting: 30% Reassessment Opportunity: Yes Penalty for L  6 online assessments    30       
Assessment 2: Synoptic Assessment Essay Question (may or may not include appropriate ‘source’ material) Assessment Type: Coursework Size: 3,000 words Weighting: 70% Reassessment Opportuni  -3000 words    70       

Aims

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.


Learning Outcomes

(LO1) Students will be able to explain why countries gain from trade and what pattern of trade flows exist using the key concepts in international trade theory.

(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 become familiar with key measures and data sources on international trade.

(LO4) Students will be able to explain the effects of multilateral and regional trade agreements and institutions.  

(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 understand how the key concepts of international trade are useful when analysing business decisions regarding internationalization and global production.

(LO7) Students will understand which countries/groups will benefit or loose from trade and trade protection and what policies can help these groups.

(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 and Learning Strategies

Teaching Delivery: Mixed, hybrid delivery with social distancing on campus.

Teaching Method 1 – Online Asynchronous Learning Materials
Description: Short videos (12weeks x 4 x 20 Minute presentations) and questions approximately 2hrs per week. Total: 12 x 2 hours
Unscheduled Directed Student Hours: 24
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: 12
Attendance Recorded: Yes

Teaching Method 2 –Group Study
Description: Questions to be discussed in small groups.
Scheduled Directed Student Hours: 12
Attendance Recorded: No
Notes: Learners can compare answers and improve their approaches.

Self-Directed Learning Hours: 102

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 skills
How 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):

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


Syllabus

 

Introduction to key concepts;

Effects of opening up to trade (partial equilibrium)

Absolute and comparative advantage;

The sources of comparative advantage (Factor models of trade);

Increasing returns to scale as source of gains from trade: intra-industry trade and the new trade theory;

Global production;

Common methods of trade protection and their economic consequences;

The political economy of trade protection;

Trade agreements, institutions of global trade and
International trade and labour and environmental standards;

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


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.