The aim of this module is to introduce students to:
1. The theoretical basis of economic integration for goods and services, including gains from trade and from increasing returns to scale
2. The main economic features of global production methods
3. The workings and interaction of different global players, including the development of supranational entities.
4. The major current policy issues in international economic and in particular the policies associated with trade

(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 analyse the consequences that arise in case such protection is applied

(LO3) Students will demonstrate familiarity 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 be able to demonstrate an understanding of how the key concepts of international trade are useful when analysing business decisions regarding internationalization and global production.

(LO7) Students will be able to demonstrate an understanding of 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 Method – Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: Yes

Teaching Method - 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: 6
Attendance Recorded: Yes

Self-Directed Learning Hours: 120

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

Skills/Other Attributes Mapping

Skills / attributes: Ethical awareness
How this is developed: Students are required to understand the ethical problems that arise from globalization and transnational corporations, as well as the winners and losers of economic integration.
Mode of assessment (if applicable): online assignments and exam

Skills / attributes: Lif elong learning skills
How this is developed: Students are required to develop analytical as well as problem solving skills. This is obtained also through learning how to understand theoretical models, as well as developing critical skills and the ability to interpret data.
Mode of assessment (if applicable): online assignments and exam

Skills / attributes: International awareness
How this is developed: Students are required to focus on international treaties about commerce, international policies and how companies work in a global setting as well as the theories behind them.
Mode of assessment (if applicable): on-line assignments and exam

Skills / attributes: It skills
How this is developed: Through the use of digital resources to encourage interaction in a way our students are likely to use for collaboration in the future, digital tools to assess and analyse data.
Mode of assessment (if applicable): On-line assignments

Skills / attributes: Communication skills
How this is developed: Students are required to discuss international economic issues and link theories and data.
Mode of assessment (if applicable): online assignments and exam

Skills / attributes: Commercial Awareness
How this is developed: lectures and on-line assignments The module requires a good understanding of commercial networks and the mode of work for transnational, national, and multinational corporations.
Mode of assessment (if applicable): Online assignments

Skills / attributes: numeracy
How this is developed: students are taught how to solve practical exercises of international economics
Mode of assessment (if applicable):

Skills / attributes: Problem-solving skills
How this is developed: Students are supported in exploring different theories and sources of data, and solve theoretical problems.
Mode of assessment (if applicable): Online assignments

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;