| Responsible Department | Institute of Food and Resource Economics | ||||||||||||||
| Earliest Possible Year | MSc. 1 year | ||||||||||||||
| Duration | One block | ||||||||||||||
| Credits | 7.5 (ECTS) | ||||||||||||||
| Level of Course | MSc | ||||||||||||||
| Examination | Continuous Assessment written examination Written Exam in Lecturehall All aids allowed Description of Examination: There are two elements in the assessment: COURSEWORK consisting of at least three individual exercises/homework assignments, and one presentation; and WRITTEN EXAM of three hours at the end. Weight: 30% from COURSEWORK during blok 1; and 70% from WRITTEN EXAM. 7-point scale, external examiner Dates of Exam: 11 November 2011 | ||||||||||||||
| Organisation of Teaching | Lectures, classroom discussions, student presentations, in-class exercises,and homework. | ||||||||||||||
| Block Placement | Block 1 Week Structure: B | ||||||||||||||
| Language of Instruction | English | ||||||||||||||
| No Credit Points With | It is not possible to obtain credits for both this course and the course Thematic Course: Trade and International Cooperation (LOJK10239). | ||||||||||||||
| Optional Prerequisites | Microeconomics, International Economics, Welfare Economics and Policy Analysis, and knowledge of basic calculus and matrix algebra. Intereseted students who do not have the above background are advised to consult the course coordinator. | ||||||||||||||
| Restrictions | None | ||||||||||||||
| Course Content | |||||||||||||||
| The course primarily covers the following topics. First, models seeking to explain the causes, patterns and consequences of international trade are presented. These include the Ricardian model, the HO model, the Specific Factors model and several new trade models featuring increasing returns and imperfect competition. Second, the theory of international trade policy, mainly the analysis of trade policy instruments under perfect and imperfect competitions, is introduced. Third, the institutions (such as the WTO and its various trade agreements) and the theory of international trade policy coordination are discussed. Last, we turn to topics specific to agricultural trade, agricultural trade policy, and coordinated reforms in agricultural trade policy at the regional, plural and multilateral levels. | |||||||||||||||
| Teaching and learning Methods | |||||||||||||||
| Students are expected to take part in a whole range of classroom activities, including lectures, presentations, discussions, and exercises. They are also required to work on homework assignements outside regular classroom meetings. | |||||||||||||||
| Learning Outcome | |||||||||||||||
| First, this course provides rigorous theoretical analysis of international trade, trade policy, and trade agreements. Second, theoretical knowledge and analytical tools developed in the course are used to analyze real life policy issues, especially in the areas of agricultural trade, trade policy reforms, and the WTO. After completing the course the student should be able to: Knowledge: Describe the causes, patterns, and consequences of international trade according to various classical and new trade models Identify and reflect on the differences and similarities among the assumptions and theoretical predictions of major trade models Develop thorough and in-depth understanding of important trade policy instruments (such as tariffs, quotas and subsidies) as well as the theoretical framework underpinning the analysis of these instruments Summarize the main theoretical literature in the political economy of international trade policy Show overview of the institutions of international trade policy coordination and the theory behind it Describe the main policy issues arising from multilateral agricultural trade negotiations Skills: Compare and contrast different theoretical models of international trade and assess the suitability of these models in explaining observed international trade patterns and other related phenomena Demonstrate the ability to conduct diagrammatically and algebraically simple partial and general equilibrium analyses of prevalent trade policy instruments Integrate the insights from theoretical trade models, trade policy analysis and political economy arguments of trade policy, for the purposes of explaining the landscape of protectionism across different countries and industries Competency: Develop coherent, structured and balanced opinions on ongoing debates in international trade, international cooperation, and globalization and be able to communicate these opinions both orally and in writing forms Apply the theoretical knowledge and analytical skills acquired from the course to analyze relevant policy issues, esp. in the areas of agriculture trade, the WTO trade negotiations, and issues concerning developing countries and economic development | |||||||||||||||
| Course Literature | |||||||||||||||
| Textbook: Advanced International Trade: theory and evidence, by Robert Feenstra, Princeton University Press 2004 (most chapters). Primary reference books and other reading materials from academic journals, books, and other sources are to be announced. | |||||||||||||||
| Course Coordinator | |||||||||||||||
| Wusheng Yu, wusheng@foi.dk, Institute of Food and Resource Economics/International Economics and Policy Unit, Phone: 353-36812 | |||||||||||||||
| Study Board | |||||||||||||||
| Study Committee NSN | |||||||||||||||
| Work Load | |||||||||||||||
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