Type of module:

Summary module description:

Module Lead at NUIST: Dr. Irfan Ullah Khan (proposed) / irfanecon@nuist.edu.cn

International economics is concerned with economic interactions among sovereign nations, in terms of trade in goods and services as well as investment in financial and real assets. It tries to answer questions such as: why do nations trade; what are the gains from trade; are such benefits fairly allocated across various social groups; should trade be free or protected; how much should trade and financial relations among nations be regulated, integrated, coordinated; why do monetary regimes and exchange rates matter; why do some nations tend to accumulate current account deficits and foreign debt whereas other are in surplus and are net lenders. Part of the module will apply the introduced theoretical concepts and models to the policy context of Brexit and EU integration.

Aims:

Our key objective will be to understand, analyse and discuss solutions to a number of topical issues we face in modern world economic policy. The module is divided into two parts, of 5 lectures each. In the first part, we will use a range of models to analyse trade across nations and the workings of the macroeconomy in an international context. In the second part, trade and exchange rate theories will be extended to applications in modern policy issues such as preferential trade agreements, WTO, and post-Brexit developments. The applications also include international trade as it pertains to China.  EC311NU serves as a continuation of the ‘International Trade Theory’ and ‘International Trade Practice’ modules offered during the second year of the economics sequence.

Assessable learning outcomes:

• Understand and interpret a range of theoretical explanations of trade flows.


• Analyse the workings of the macroeconomy in an international context.  


• Apply trade models to modern policy issues such as preferential trade agreements, WTO, and post-Brexit developments.

Additional outcomes:

Outline content:

Trade theory and policy: Classical theories of trade. ‘New’ explanations of trade. Tariffs and protectionism.

Open-economy macroeconomics: Theories of exchange rate determination. Policy issues.

Brief description of teaching and learning methods:

This module is delivered through 42 x two-hour lectures in the spring term.

Contact hours:

	Autumn	Spring	Summer
Lectures		84
Guided independent study:		116
Total hours by term	0	200	0
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	50
Written assignment including essay	20
Class test administered by School	30

Summative assessment- Examinations:

One 2-hour unseen written paper.

Summative assessment- Coursework and in-class tests:

Coursework includes two different methods for assessing student’s knowledge. These include: 1) One group essay intended to test student’s ability to read a high-level journal article and provide a referee report based on its contests. 2) An in-class midterm test aimed primarily at ascertaining a student’s understanding and comprehension of a subset of the materials covered during lectures. The exact requirements of the module for a given term will be explicitly detailed in the syllabus handed out at the beginning of each term in which the module is offered. Coursework will count for 50% of the overall grade. The exact weights of the different pieces of coursework required will also be explicitly stated in the syllabus.

Formative assessment methods:

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A minimum overall mark of 40%.

Reassessment arrangements:

Re-examination for all modules takes place in August/September of the same year.

Re-assessment is by examination only; coursework is not included at the second attempt.

Additional Costs (specified where applicable):

1) Required text books:  Single compulsory/main textbook:

“International Economics: Theory and Policy”, by Paul Krugman, Maurice Obstfeld and Marc Melitz, published by Pearson Education, 2015 (10th global ed. ISBN: 9780133423648)

(paperback price of about £60 – not listed on Blackwell lists(?) hardback price at Blackwell lists: £146.99, ISBN 9780133423648)

2) Specialist equipment or materials:  None

3) Specialist clothing, footwear or headgear:  None

4) Printing and binding:  There may be optional costs associated with photocopying or printing sources listed on the reading list relating to this module. 

5) Computers and devices with a particular specification:  None

6) Travel, accommodation and subsistence:  None

Last updated: 19 July 2021