Core
5
8 ECTS
Spring/autumn
Introduction to Microeconomics, Introduction to Macroeconomics
EC 220
Vjekoslav Domljan
2017
Introduction and World Trade: An Overview
Labour Productivity and Comparative Advantage: the Ricardian Model
The Instruments of Trade Policy
The Political Economy of Trade Policy
Trade Policy in Developing Countries (import-substituting industrialisation, trade liberalisation since 1985; take-off in Asia)
Controversies in Trade Policy
National Income Accounting and Balance of Payment
Exchanges Rate and the Foreign Exchange Market: An Asset Approach
Money, Interest Rates, and Exchange Rates
Output, Price Levels and the Exchange Rate in the Long and Short Run
Fixed Exchange Rates and Foreign Exchange Intervention
International Monetary Systems: An Historical Overview
Financial Globalisation: Opportunity and Crisis
Optimum Currency Areas and the Euro
Developing Countries: Growth, Crisis and Reform
| Type | Number per Term | Duration | Total Time |
|---|---|---|---|
|
Lectures |
20 |
1.5 | 30 |
| Tutorials |
15 |
1.5 | 15 |
| Total Guided/Independent Learning Hours |
155 |
||
| Total Contact Hours |
45 |
||
| Total Engagement Hours |
200 |
||
| Type | Number Required | Duration / Length | Weighting | Timing / Submission Deadline |
|---|---|---|---|---|
|
Final exam |
1 |
3 hours |
50% |
Week 17 |
|
Mid-semester test |
1 |
2 hours |
20% |
Week 8 |
|
Group Project: Report on Topic (Including presentation) |
1 |
2000 words 20 minutes presentation |
20% 10% |
Week 12 |
Intended Learning Outcomes:
To understand key economic terminology as used in the field of Economics and to be competent in the reading of economic literature
Articulate on the now dominant economic theories and their global, regional, country and business applications
Evaluate and critically analyse the interrelationships of political and economic factors.
Understand and be able to treat analytically the basic economics, international trade and finance issues
Evaluate the principle of comparative advantage and how free trade between countries can benefit all, and under what conditions;
Familiarise with the major instruments of trade policy and how their economics and effects can be analysed
Articulate on the international macroeconomic policy and how its economic effects can be analysed
Critically analyse major issues in international trade and finance, be able to deal with them analytically, and identify possible resolutions for those issues.
Use already established methods to undertake investigation in the field of International Economics and communicate results in appropriate format.
Teaching and Learning Strategy:
Teaching will mostly be done in a lecture-type style with plenty of real-world examples crucial for core understanding of the topic. (ILO:1-8)
Lectures will contain theoretical and application-based examples as well as some thought provoking exercises for students to engage with. (ILO:1-8)
Most of the application-based problems will be done in tutorial sessions. Students are encouraged to participate in group discussions and the presentation of group ideas. They will be tutored on preparing reports of group debate and class exercises. (ILO:1-9)
Assessment Strategy:
Mid-term and final exam (ILO:1-8)
Group project: Report on Topic (Including presentation) (ILO: 1-9)
Practical Skills:
Ability to explain theoretical concepts from the field of International Economics and own point of view, as well as to listen and appreciate alternative points of view on international trade.
Interpret GPSs (global position strategies)
To theoretically apply economic concepts of international trade to real-life concerns
To analyse national accounts and balance of payments
Ability to create written reports on relevant topics related to the field of International Economics.
Teaching and Learning Strategy:
Teaching will be dominantly lectures, with use of historical examples (PS:1,2,4)
Tutorials and exercises will emphases practical skills (PS: 3-5)
Assessment Strategy:
Mid-term and final exam (PS: 1-4)
Group project: Report on Topic (Including presentation) (PS: 1,5)
Transferable Skills:
A problem-centered and problem-solving approach
Ability to effectively present own and others’ point of view
Communication Skills
Presentation Skills
Ability to work independently
Meet deadlines
Teaching and Learning Strategy:
Teaching will be predominantly lectures, with ample use of examples. (TS: 2-4)
The tutorials and set class exercises will emphasize practical use of skills (TS:1-5)
Assessment Strategy:
Mid-term and final exam (TS:1,2)
Group project: Report on Topic (Including presentation) (TS: 2-7)
Set text
Supplementary Materials
R. Carbaugh, (2016), International Economics, 16th Edition, Cengage Learning
J. N. Bhagwati and A. S. Blinder, (2009) Offshoring of American Jobs - What Response from U.S. Economic Policy? MIT Press
World Trade Organisation, (2017) WTO [online], www.wto.org (Accessed 17th April 2017)
The Economist, (2017), Economics, [online], www.economist.com, (Accessed 17th April 2017)
J. Greenwood, 2008, “Hong Kong’s Link to the US Dollar, Origins and Evolution”, Hong Kong Institute for Monetary Research, Hong Kong University Press.
S. Eijffinger, (1998), Foreign Exchange Intervention: Objectives and Effectiveness, Edward Elgar Publishing
E. Buffie,(2001), Trade Policy in Developing Countries, Cambridge University Press
J. Stiglitz, (2003), Globalization and Its Discontents. Norton & Company
The Open University, (2016), Developing Countries in the World Trade Regime,(Kindle Edition), [online at] http://amzn.to/1Ou4dZm (Accessed 17 April 2017)
Please note
This specification provides a concise summary of the main features of the module and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if he/she takes full advantage of the learning opportunities that are provided.
More detailed information on the learning outcomes, content and teaching, learning and assessment methods of each module and programme can be found in the departmental or programme handbook.
The accuracy of the information contained in this document is reviewed annually by the University of Buckingham and may be checked by the Quality Assurance Agency.
Date of Production : April 2017
Date approved by School Learning and Teaching Committee:
Date approved by School Board of Study :
Date approved by University Learning and Teaching Committee:
Date of Annual Review:
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