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Unit of study_

ECON6023: International Trade

This unit develops the modern theory of international trade and commercial policy and examines some empirical applications. Topics covered include competitive trade theory; comparative advantage and theories of international trade patterns; the gains from trade; empirical evidence and methodology; imperfectly competitive trade theory and economies of scale, differentiated products, and technology; analysis of the effects of tariffs and trade quotas upon trade under competitive and imperfectly competitive market structures; the formation and design of regional trade agreements and the strategic behaviour of multinational enterprises. It will be suitable for those with an interest in international trade and business issues as well as those who may wish to pursue PhD research in these areas. It will be taught at a graduate level and so presumes knowledge of advanced undergraduate microeconomics.

Code ECON6023
Academic unit Economics
Credit points 6
ECON6001 or ECON6701

At the completion of this unit, you should be able to:

  • LO1. demonstrate skills in oral and written communication (through class discussions, tests and essay)
  • LO2. demonstrate skills in problem solving (through tutorial questions and tests)
  • LO3. demonstrate critical thinking (through class discussions, tests, tutorial questions and essay)
  • LO4. demonstrate basic modelling skills (through tutorial questions and tests)
  • LO5. identify and intuitively explain the key issues in international trade theory and policy
  • LO6. understand the importance of assumptions in the economic modelling of international trade
  • LO7. distinguish between the efficiency implications and distributional consequences of trade and trade policy
  • LO8. understand the role of politics in trade and vice versa
  • LO9. assess the costs and benefits of trade policy from an economic point of view
  • LO10. feel sufficiently informed to confidently participate in public policy discussions and be ready to challenge some of the misconceptions regarding trade and globalisation.