EC1ITTPNU: International Trade Theory and Practice

Module code: EC1ITTPNU

Module provider: Economics; School of Philosophy, Politics and Economics

Credits: 20

Level: Level 1 (Certificate)

When you'll be taught: Semester 2

Module convenor: Dr Hussein Hassan, email: hussein.hassan@reading.ac.uk

NUIST module lead: Lu Chunping, email: 917939121@qq.com

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 23 May 2024

Overview

Module aims and purpose

This module provides a complete treatment of introductory to intermediate levelInternational Trade Theory and Practice. It offers both a theoretical component and a policy-based applied section. The theoretical component covers all the conventional trade models discussed in the literature. This module explains trade theory that starts at an aggregate level and then moves towards a market-oriented, firm-level analysis with theoretical implications at both micro and macro levels. Furthermore, it introduces fundamental activities involved in international trade practice.

There are two module leads at NUIST: Lu Chunping and Irfan Ullah.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Have a working knowledge of common trade models, including the Ricardian and the Heckscher-Ohlin at both theoretical and applied levels
2. Understand the concepts of opportunity cost, comparative advantage, and the production possibilities frontier
3. Analyse the impact of labour, capital, and technology differences between international actors on their trade performances
4. Understand Chinese foreign laws and regulations and practices

Module content

A range of topics including: The concept of Opportunity Cost and PPF Model, The Ricardian Model, Specific Factors and Income Distribution Model, Heckscher-Ohlin Model, The Standard Trade Model, External Economies of Scale and The International Location of Production, Firms in the Global Economy, Formation of Contracts, Delivery, Deals with cargo insurance in trade with relevant cases, Payment, Disputes. 

Structure

Teaching and learning methods

Detailed lectures on the topics covered will be provided. Classes will cover regular exercise material based on lecture topics and will provide time for students to ask questions about the lecture material. Textbooks are distributed to assist students, and lecture slides are available in advance. Students are required to do class discussion in case studies, read a significant number of related cases, and undertake research using the library, internet, etc. 

Study hours

At least 80 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

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

Assessments with numerical marks

• 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 three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/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.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs