Economics

International Trade

Module code: L1070
Level 6
15 credits in autumn semester
Teaching method: Lecture, Seminar
Assessment modes: Coursework, Multiple choice questions

This module develops the theory of international trade and explores contemporary developments in the international trading system. In particular, it examines the underlying causes and welfare effects of trade on countries and their residents, and the implications of these results for international trade policy and institutions.

Module learning outcomes

• Systematically understand and critically evaluate some of the key issues facing the contemporary international trading system via trade theory.
• Systematically understand and critically evaluate models of trade flows based on technological differences, on differences in factor endowments, and on imperfect competition.
• Interpret empirical evidence concerning the pattern of trade and the impact of trade on the distribution of the gains and on patterns of specialisation
• Systematically understand and critically evaluate the implications of trade policies such as whether or not to liberalise or restrict trade, whether or not to participate in a regional trading agreement, or how to improve engagement in global value chains, etc