In an ever progressing and changing business environment; trade, finance and investment play a crucial and significant role in the world economy. This module concentrates on the introduction of the key theories explaining international trade, finance and investment. Framework of this module will give importance to expose learners with to the fundamental concepts of international trade, finance and investment and tools that are essential for them to understand and analyze the operation of international currency markets and the different types of exchange rate regimes. It complements other Level Two Economics/Finance modules and provides a basis for Level Three Economics/Finance modules.
• The Foundations of Trade Theory – Mercantilism, Classical trade theory: Ricardo and classical liberalism, Neo-classical trade theory
• Alternative theories of trade; Economic growth, welfare and international trade
• Foundations of Trade Policy: Instruments and Impact of trade Policy.
• Foundations of Trade Policy: Trade policy and multinational business.
• Foundations of Trade Policy: From GATT to the WTO
• Foundations of Trade Policy: Current issues in international trade management.
• Multinational Business in the World Trading System:
• The growth of foreign direct investment.
• Multinational Business in the World Trading System:
• Theories of foreign direct investment.
• Multinational Business in the World Trading System:
• Current issues in multinational business activity.
• International Finance:
• The growth of international capital markets.
• International Finance:
• The operation of foreign exchange markets.
• International Finance:
• Managing exchange rate risk.

Action Learning. Learning is achieved by engaging students in activities that have elements of problem solving combined with intentional learning.

Authentic Learning. Students will be presented with activities that are framed around "real life" contexts in which students will find learning more meaningful and motivating. Thus they will be more engaged in the process of acquiring knowledge.

Assessment strategy will be both formative and summative. Formative assessment strategies are used to test the current level of understanding and progress and to provide feedback to teacher and learner and to guide the next phase of learning. Types of formative assessments for this course will be discussions on tutorial questions, short quizzes and assignments. Summative assessment is used both in the mid and at the end of the programme formally to assess a learner’s skill, knowledge and understanding gained in this course.

For this module formative assessment will be undertaken through regular completion of tutorial work along with quizzes to check knowledge and understanding of basic concepts within accounting. To prepare students for the end of module summative exam, a mid semester test will take place under exam conditions.

Final Examination (duration 1 ½ Hours). This will be a closed book exam testing all learning outcomes - 100%
Learning outcomes 1, 2, 3, 4 & 5.

BUV VLE

Main Texts:
Feenstra, R. and Taylor, A. (2010) International Trade. Second Edition.

Additional Texts:
Appleyard, D., and Field, F. (2005) International Economics Buckley P (2010) Foreign Direct Investment, China and the World Economy - Hardcover
Appleyard, D., and Field, F. (2005) International Economics.
Brewer T L and Guisinger S The New Economic Analysis of Multinationals, Edward Elgar (2000)
Appleyard D and Field A International Economics, Irwin (1998)
Bowen H et-al Applied International Trade Analysis, Macmillan (1998)
Brenton P et-al International Trade Oxford (1997)
Buckley P Foreign Direct Investment Multinational Enterprises (1995)

1. ANALYSE THE KEY THEORIES EXPLAINING INTERNATIONAL TRADE, FINANCE AND INVESTMENT IN THE CONTEXT OF THE WORLD ECONOMY
Analysis, Learning

2. DISCUSS THE HISTORICAL FACTORS DETERMINING THE EXISTENCE AND GROWTH OF INTERNATIONAL TRADE AND INVESTMENT
Knowledge and Understanding, Reflection

3. EVALUATE THE WORKINGS OF THE MULTINATIONAL BUSINESS IN THE WORLD TRADING SYSTEM
Analysis, Problem Solving

4. DEMONSTRATE AN UNDERSTANDING OF THE OPERATION OF INTERNATIONAL CURRENCY MARKETS AND THE DIFFERENT TYPES OF EXCHANGE RATE REGIMES
Knowledge and Understanding, Application

5. ANALYSE THE IMPACT OF FOREIGN DIRECT INVESTMENT UPON PATTERNS OF ECONOMIC DEVELOPMENT
Analysis, Knowledge and Understanding