Economics

International Trade

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

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