LOJA10289 International Economics

Details
Responsible DepartmentInstitute of Food and Resource Economics

Earliest Possible YearBSc. 1 year
DurationOne block
 
Credits7.5 (ECTS)
 
Level of CourseJoint BSc and MSc
Students in Agricultural Economics and Environmental and Natural Resource Economics can only follow this course on Bsc-level
 
ExaminationFinal Examination

written examination


All aids allowed

Description of Examination: 24-hour written take-home exam

Weight: 100%



7-point scale, no second examiner
 
Requirement for Attending ExamThree homework assigments approved by the instructor.
 
Organisation of TeachingThe teaching involves lectures, theoretical exercises and home assignments
 
Block PlacementBlock 3
Week Structure: A
 
Language of InstructionEnglish
 
Optional PrerequisitesKnowledge of first year Micro Economics and Mathematics is assumed.
 
Restrictionsnone
 
Course Content
This course explores the theoretical foundations of International Trade. The course focuses on why nations trade, what they trade, and how free trade can be beneficial or detrimental to trading countries. We will also discuss what governments can do to influence trade flows and how government policy can be used as a strategic tool by a country to achieve its own international objectives; the political debate surrounding such policies are also surveyed. The topics covered in the course include:
- Classical trade theories
- Theories of trade with imperfect competition
- Trade policy theory
- The political economy of trade
 
Teaching and learning Methods
The teaching is based on lectures combined with small exercises that introduce the students to the central elements of the curriculum of international economics. In following theoretical exercises the students will work more intensively in groups with both practical and theoretical problems. Parts of the curriculum will be left for the students to study by themselves with support from the instructor as needed. Although students are encouraged to work together in groups, all students are required to submit their own individual, non-identical, home assignments for approval. A typical student will initially work in a group but then complete homework assignments, interpret the results of a theoretical model, or summarize an applied analysis with their own unique words in their own written report.
 
Learning Outcome
The course introduces theories of international trade and their application. We study models of why countries trade and explore why governments may restrict free trade.

After completing this course a student should be able to:
-Knowledge
. identify and distinguish between different international trade models by their assumptions
. describe and compare the main features and results of the different models

-Skills
. derive comparative statics within the economic models of international trade covered in the course
. explain the outcome of comparative statics in terms of model mechanics and assumptions

-Competencies
. apply relevant economic theories to real world issues. This involves i) setting up an economic model applicable to the real world issue; ii) conducting relevant analyses (comparative statics) within the model; and iii) interpreting the results in terms of real world concepts and providing policy conclusions/recommendations
. evaluate the applicability of different economic models for analysing specific real world issues
 
Course Literature
An intermediate International Economics textbook to be announced 4 weeks prior to the first lecture.

Readings:
The course may also cover a selection of The Economist, and New York Times articles to be provided by the instructor.
 
Course Coordinator
Kenneth Thomas Baltzer, kb@foi.ku.dk, Institute of Food and Resource Economics/International Economics and Policy Unit, Phone: 353-36852
 
Study Board
Study Committee NSN
 
Work Load
lectures52
theoretical exercises32
preparation86
examination4
project work32

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