Critically analyse and evaluate the various theories of international trade and consider the implications of these for economic policy.

Knowledge and Understanding, Learning, Enquiry.


Analyse problems and crises affecting the International Economy and critically consider the effects and constraints on international economic policy. Attention will be given to trade policy, protectionism, competition, and international coordination.

Knowledge and Understanding, Analysis, Application.


Critically evaluate approaches to investment in strategic trade and international finance.

Application. Analysis, Reflection, Communication.

Exam (2 hours) (100%) plus 10 mins reading time (LOs 1, 2, & 3)

This module examines the various academic theories of international trade and economic policy. Starting historically with the theory of comparative advantage and its variants leading to modern “new trade theory.” Each is critically considered with respect to its inherent logic and its applicability to observed international trade and economic reality. Key aspects of the course material are as follows:
- The nature of economic policy formation and implementation
- Key concepts in international economic policy
- Macro-economic co-ordination
- Strategic trade issues
- International investment
- Competition policies
- Global Corporate Issues
- Crisis management

The learning strategy for the module requires students to commit 200 learning hours (including assessment) of which there will be 36 hours of tutor-led learning and 164 hours of independent and self-directed study. During the tutor-led learning hours, students will receive robust support through interactive tutorials where they can ask questions, clarify doubts, and receive personalized guidance on challenging concepts. These tutorials are designed to foster a deeper understanding of the material, with opportunities for collaborative learning and discussions that enhance comprehension and retention.


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.

You will undertake ‘formative’ assessments during the module to help you monitor your learning and provide you and us with ongoing feedback on your progress, that helps you prepare for the ‘summative assessment(s) during or at the end of the module. The formative assessments may include quizzes, short essays, or problem-solving exercises, with feedback given to help students identify areas for improvement.

The use of AI tools such as ChatGPT can be beneficial in learning, however, students must adhere to the following guidelines: (i) all submitted work must be original and written by the student; (ii) if a student utilizes AI tools to generate ideas or receive guidance, this must be clearly cited in the submitted work, just as any other source would be; (iii) students should be mindful of the ethical implications of using AI in their studies, ensuring that their use of such tools does not constitute academic dishonesty.

Unit feedback:
During semester, students’ feedback on the module will be collated and distributed through University's online platform, ensuring consistency with other units and focusing on both improvement and future success. This process includes both individual feedback and cohort-wide summaries, aligning with the university's standardized approach to learning and assessment.

MAIN TEXT:
Main Texts:
Krugman, P. R. (2021). International Economics: Theory and Policy, 12th Edition. Wiley

Additional Texts:
Dominick Salvatore. (2020). International Economics, 13th Edition. Wiley.
Dennis Appleyard and Alfred Field. (2017). International Economics, 9th Edition. McGraw Hill

To develop an interest in economics and enhance the chance of success, the following websites are recommended for obtaining updated news:
www.bbc.co.uk/news/business
www.theguardian.com/uk/business
www.timesonline.co.uk
www.economist.com
www.independent.co.uk
www.businessweek.com

Module Study Guide and Handbook
BUV Learning Resources Centre and website
BUV Canvas; Learning Management System
SU VLE
SU Library