EC931: International Trade
Carlo Perroni
Module Leader
Introduction
The module surveys key concepts and empirical findings from the economics literature on international trade and international economic relations more generally. Students will gain familiarity with analytical tools that can be applied to the interpretation and the evaluation of international trade policies and international economic institutions.
Principal Aims
These lectures will survey the theoretical literature on international trade and international economic relations more generally.
Principal Learning Outcomes
Subject Knowledge and Understanding:...demonstrate familiarity with trade-related laws and institutions (such as the WTO), and an understanding of their functions and roles – in light of the theoretical concepts and empirical evidence presented in the module.
Subject Knowledge and Understanding:...demonstrate an understanding of the historical evolution of debates around international trade and trade policies.
Subject Knowledge and Understanding:...demonstrate an understanding of relevant theoretical concepts, including: terms of trade, comparative advantage, trade protection and trade barriers, trade-induced rationalisation and variety effects, trade liberalisation and cooperation.
Subject Knowledge and Understanding:...demonstrate knowledge of empirical evidence about the structure of international trade flows (in relation to their composition, their geographical patterns, their historical evolution, etc).
Syllabus
The module will typically cover the following topics:
• The positive theory of international trade.
• The instruments of trade policy.
• Tariffs and retaliation.
• Monopolistic Competition and International Trade.
• Intra-Industry Trade under Cournot Oligopoly.
• Strategic Trade Policy.
• The political economy of trade policy.
• International economic integration.
Context
- Optional Module
- L1P6 - Year 1, L1P7 - Year 1, L1I1 - Year 1, LN1J - Year 1, G30B - Year 4
- Pre or Co-requisites
- The module demands knowledge of undergraduate-level microeconomic principles and mathematical methods.
Assessment
- Assessment Method
- Centrally-timetabled examination (On-campus) (100%)
- Coursework Details
- Centrally-timetabled examination (On-campus) (100%)
- Exam Timing
- May
Subject Specific Skills
- Applied Economics
- Economic Information
- Economic Principles
- Research and Debate
- Abstraction
- Analysis of Incentives
- Analysis of Institutions
- Analysis of Optimisation
- Analytical Reasoning
- Analytical thinking and communication
- Creative Thinking
- Critical Thinking
- Policy Evaluation
- Problem Solving
- Sustainability
Transferable Skills
- Numeracy and quantitative skills
- Mathematical, statistical, data-based research skills
- Oral Communication
- Written Communication
Exam Rubric
Time Allowed: 2 Hours
Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.
There is ONE section in this paper. Answer TWO questions (50 marks each).
Use a SEPARATE GREEN booklet for each question.
You must write the number(s) of the question(s) you have answered on the front cover of each booklet. Make sure the numbers are clearly visible and correspond to the questions you completed inside that booklet.
Do not submit answers to more than the required number of questions. If you do, only the first answers (in the order they appear) will be marked, up to the required number for each section.
Approved scientific (non-graphical) pocket calculators are allowed.
Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.