| Responsible Department | Institute of Food and Resource Economics | ||||||||||||
| Earliest Possible Year | MSc. 1 year to MSc. 2 year | ||||||||||||
| Duration | One block | ||||||||||||
| Credits | 7.5 (ECTS) | ||||||||||||
| Level of Course | MSc | ||||||||||||
| Examination | Continuous Assessment written examination and oral examination Portfolio Examination Some Aid allowed 1 page of A4 (one sided) of notes Description of Examination: A portfolio of work with the following contents: (1) Class presentation (2) In class written exercise (3) Research/Survey Paper Weight: (1) Class presentation, 30%. (2) In class written exercise, 35%. (3) Research/Survey Paper, 35%. 7-point scale, internal examiner | ||||||||||||
| Requirement for Attending Exam | To be able to attend the exam the students, individually have to read, understand and conduct a presetnation based on a course relevant journal article. | ||||||||||||
| Organisation of Teaching | The teaching involves lectures, discussion and application of theoretical mathematics, and statistical analysis with international trade models and software. | ||||||||||||
| Block Placement | Block 4 Week Structure: A | ||||||||||||
| Language of Instruction | English | ||||||||||||
| Optional Prerequisites | Students should have an understanding of basic calculus, matrix mathematics, and statistical analysis. And be able to use basic statistical analysis packages in excell/stata or similar. To benefit from this course the student needs an undergraduate understanding of micro, public, development, and international economics. | ||||||||||||
| Restrictions | None | ||||||||||||
| Course Content | |||||||||||||
| This seminar class will focus primarily on journal articles describing developments in the theory of international trade. The first part of the class will briefly review the 'new trade theory' research which introduced increasing returns to scale and imperfect competition into models of international trade. We will then explore two sub-fields of this literature, the theory of the multinational enterprise and associated globalization issues and the economic geography literatures. We will also discuss the empirical literature relevant for these theories. The second part of the class will consider the political economy of trade literature. Notions of strategic and optimal trade policies will be discussed. Both theoretical predictions and empirically observed stylized facts describing the effectiveness of policy will be considered. | |||||||||||||
| Teaching and learning Methods | |||||||||||||
| The teaching is based upon lectures presenting the central elements of the curriculum of international economics and globalization. Students will also give presentations based upon a particular journal article upon which they will base an in class research project. Students will complete a research or literature survey paper based on class curriculum. | |||||||||||||
| Learning Outcome | |||||||||||||
| After completing this course the student is expected to be able to: Knowledge (i) Describe and explain how the historical pattern of trade is driven by various supply and demand side features of specific countries. (ii) Describe the similarities and differences in the threortical predictions and the empirical evidence for the main trade models. (iii) Describe and explain developments in the international trade subfields of: Theory of Multinational/globalization and Economic Geography literatures. (iv) Define globalization and relate the economic foreces driving globalization to trade theory. (v) Identify the basic political economy arguments for free trade versus anti-globalization (vi) Identify the welfare economic impact of globalization on various agents, institutions, and nations. Skills (i) Be able to mathematially specify and solve partial and general equilibrium trade and political economy models. (ii) Perform a quantitative analysis of predictions of trade models with statistical analysis of data. (iii) Perform a qualitative analysis of the welfare effects of free trade, and the potential effects of policy intervention. Competences (i) Construct arguments in a debate on the economic aspects of globalization based on graduate level economics. (ii) Perform graduate level mathematical and statistical analysis (iii) Work independently with a journal article and present and conduct a discussion between fellow students on the matter. (iv) Make political economy judgements based on the trade-off between efficiency and equity in the context of free trade and globalization. | |||||||||||||
| Course Literature | |||||||||||||
| Dixit A., and Norman, V., 1980, Theory of International Trade, (London: Cambridge University Press). Leamer. E. 2001 International Economics (Worth Publishers) Required journal article readings list provided on syllabus. | |||||||||||||
| Course Coordinator | |||||||||||||
| Kenneth Thomas Baltzer, kb@foi.dk, Institute of Food and Resource Economics/International Economics and Policy Unit, Phone: 353-36852 | |||||||||||||
| Study Board | |||||||||||||
| Study Committee NSN | |||||||||||||
| Work Load | |||||||||||||
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