Unit information: International Economics in 2020/21

Unit name	International Economics
Unit code	ECON30074
Credit points	20
Level of study	H/6
Teaching block(s)	Teaching Block 1 (weeks 1 - 12)
Unit director	Dr. Correia
Open unit status	Not open
Pre-requisites	EFIM20033 Intermediate Microeconomics AND EFIM20034 Intermediate Macroeconomics AND EFIM20011 Econometrics 1 OR EFIM20038 Microeconomic Analysis AND EFIM20037 Macroeconomic Analysis AND EFIM20010 Applied Quantitative Research Methods
Co-requisites	None
School/department	School of Economics
Faculty	Faculty of Social Sciences and Law

Description including Unit Aims

The unit explains the macro- and micro-economic implications of an economy being part of an international economy.

In the first part it explores theories of why we observe the movements in foreign exchange rates that we do; why such movements can be volatile; why there have been many currency crises in recent years; how government macroeconomic policy operates in an international setting; when countries might join a currency union.

In the second part it explores classical and modern theories of why international trade occurs; does it benefit everyone; does it exploit poor countries; will the growth of Asian economies harm the UK economy; what should government policy towards international trade be.

Intended Learning Outcomes

• To increase student understanding of why international trade occurs

• To increase student awareness of the characteristics of trade patterns

• To increase student understanding of how exchange rates are determined

• Generally to increase student understanding of how an economy’s macroeconomic policy and performance are affected by developments in the international economy

• To increase student understanding of why trade occurs and how it affects the distribution of income within an economy

• To increase student understanding of why governments adopt the trade policies they do and of what policies they should adopt.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

Two-hour online examination (100%)

Reading and References

P. Krugman and M. Obstfeld International Economics: Theory and Policy (Addison-Wesley)