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School of Social Sciences

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BAEcon Economics
Learn how the social sciences can help you to understand today's world.

BAEcon Economics / Course details

Year of entry: 2018

Course unit details:
International Trade and Policy

Unit code ECON32191
Credit rating 10
Unit level Level 3
Teaching period(s) Semester 1
Offered by School of Social Sciences
Available as a free choice unit? Yes

Overview

See course Blackboard pages.

Pre/co-requisites

Unit title Unit code Requirement type Description
Managerial Economics I ECON20000 Pre-Requisite Compulsory
Managerial Economics I (10cp) ECON20000 Pre-Requisite Compulsory
Microeconomics IIB ECON20352 Pre-Requisite Compulsory
ECON32191 Pre/Co-requisites: ECON20000 OR ECON20352

Students must have taken at least one of the following to be able to take this course unit (compulsory Pre-Requisite):

  • ECON20000 or
  • ECON20352

Aims

The aims of this course are to:

  1. Study the basic facts of international trade flows.
  2. Discuss different international trade theories, their empirical evidence and policy implications.
  3. Introduce methods for trade policy analysis.

Learning outcomes

At the end of this course unit. it is expected that you will be able to:

  1. Understand the causes and effects of international trade.
  2. Evaluate the welfare impacts of trade policies.
  3. Demonstrate an understanding of various contemporary issues in trade, such as trade and growth, industrialisation, inequalities and global production structure.

Syllabus

Lecture 1: Facts on Inter-Industry Trade and the Ricardian Model.

Lecture 2-3: The Heckscher-Ohlin Model.

Lecture 4: The Instruments of Trade Policy.

Lecture 5: Facts on Intra-Industry Trade and the Monopolistic Competition Models.

Lecture 6: Heterogeneous Firms and the Organization of Firms.

Lecture 7-8: Gravity Model and its Application on Brexit.

Teaching and learning methods

Lectures and exercise classes.

Employability skills

Analytical skills
Understand the motivation from data and why we need different economic models. How to use existing models to understand past and current events in the world economy.
Problem solving

Assessment methods

Method Weight
Other 25%
Written exam 75%
  • Mid-Term Exam - structured questions; answer 1 compulsory question and 1/3 optional questions in 1.5 hours (25%).
  • Final Exam - structured questions; answer 1/2 questions in 50 minutes (75%).

Feedback methods

  • Weekly problem sets.
  • Class feedback.
  • Office hours.
  • Revision sessions.

Recommended reading

  • Krugman, P., Obstfeld, M., and Melitz, M.J. 2015. International Trade: Theory and Policy (or equivalently, International Economics: Theory and Policy, Ch.1-12), 10th Edition, Pearson.
  • Antràs, P.. 2015. Global Production: Firms, Contracts, and Trade Structure, Princeton University Press.

Detailed reading list will be posted on the course website.
 

Study hours

Scheduled activity hours
Assessment written exam 1.5
Lectures 19
Practical classes & workshops 7
Independent study hours
Independent study 72.5

Teaching staff

Staff member Role
Hei Sing Chan Unit coordinator

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