Introductory description

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.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

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.

Learning outcomes

By the end of the module, students should be able to:

• 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. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination.
• Subject Knowledge and Understanding:...demonstrate an understanding of the historical evolution of debates around international trade and trade policies. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination.
• 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. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination.
• 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). The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination.

Indicative reading list

Please see Talis Aspire link for most up to date list.

View reading list on Talis Aspire

Subject specific skills

Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Creative thinking
Problem-solving
Abstraction
Policy evaluation
Analysis of incentives
Analysis of Institutions
Analysis of optimisation

Transferable skills

Students will have the opportunity to develop:
Numeracy and quantitative skills
Written communication skills
Oral communication skills
Mathematical, statistical and data-based research skills