Responsible Department | Institute of Food and Resource Economics | ||||||||||||||
Earliest Possible Year | BSc. 1 year | ||||||||||||||
Duration | One block | ||||||||||||||
Credits | 7.5 (ECTS) | ||||||||||||||
Level of Course | Joint BSc and MSc Students in Agricultural Economics and Environmental and Natural Resource Economics can only follow this course on Bsc-level | ||||||||||||||
Examination | Final 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 Exam | Three homework assigments approved by the instructor. | ||||||||||||||
Organisation of Teaching | The teaching involves lectures, theoretical exercises and home assignments | ||||||||||||||
Block Placement | Block 3 Week Structure: A | ||||||||||||||
Language of Instruction | English | ||||||||||||||
Optional Prerequisites | Knowledge of first year Micro Economics and Mathematics is assumed. | ||||||||||||||
Restrictions | none | ||||||||||||||
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 | |||||||||||||||
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