View ECON81004 / 201700 Module Summary

Main Description

Department:	Business Studies	Module Code:	ECON81004
Level:	Level 8	Contact Hours:	36
Duration:	1 Semester	Directed Study Hours:	24
Effective Term:	2025/26	Indep. Study Hours:	40
Credits:	5

Prerequisite Knowledge:

Principles of Economics - Microeconomics and Macroeconomics

Module Description/Aims:

The module aims to provide students with the principles and theories essential for a thorough understanding of international trade. It seeks to explain how the global economy works, the benefits it provides to nations and the challenges it faces.

Course(s) this module is available in:

This module is not in any currently available course.

Contact Hours

Contact Type	Hours
Lecture	2 Per Week (One Sem)
Tutorial	1 Per Week (One Sem)

Learning Outcomes

On successful completion of the module, the learner will be able to:

No.	Description/Learning Outcomes
1	Evaluate the basis and gains that can be made from trade using various international trade theories and models.
2	Describe and identify the effects of various trade barriers on a nation and its citizens.
3	Explore the issues of international trade negotiations in an ever changing global environment.
4	Show how foreign exchange markets function and how to use financial instruments to manage foreign exchange exposures.

Learning Strategies

Learning Strategies
The student will engage with the content of the module through lectures.
The student will apply their learning through practical examples, case studies and question sheets in tutorials.
Students will engage in class group discussions on current topical issues.

Indicative Syllabus Content

Content	Detail
Introduction	• • Importance of International Trade • International Economic Problems • Globalisation in the World Economy
International Trade Theory	• • Comparative Advantage • Opportunity Cost Theory • The Standard Trade Theory Model • The Heckscher-Ohlin Trade Theory Model • Other Trade Theories
International Trade Policy	• • Effects, Costs and Benefits of Tariffs • Import Quotas and other Trade Barriers • The Political Economy of Protectionism • Strategic Trade and Industrial Policies • International Trade Negotiations and Agreements • Outstanding World Trade Issues
International Trade Finance	• • Foreign Exchange Markets • Exchange Rate Determination • Foreign Exchange Futures and Options • Hedging Foreign Exchange Exposure • Currency Speculation • Covered Interest Arbitrage • Purchasing Power Parity • The M-L condition and the J-curve effect

Assessments Strategies

Assessment Strategies
Knowledge and comprehension of the module concepts will be assessed by written examination during and at the end of the semester.
Written examinations will utilise multiple choice, short answer and structured examination questions.
The repeat strategy will be a scheduled repeat written examination.

Indicative Assessments

Learning Outcome	Assessment Category	Assessment Method	Additional Information	% alloc
1	Continuous Assessment	Class Exam		30
2, 3, 4	Final Exam (Scheduled)	Final Written Exam		70

Reading List

Type	ISBN	Title Author Publisher	Year	Edition	Library Link
Essential	9781118092323	Introduction to International Economics Domonick Salvatore Wiley	2012	3rd Ed Intl student	-
Recommended	9781118177945	International Economics: Trade & Finance Domonick Salvatore Wiley	2013	11th Ed Intl Student	-
Recommended	9780078021770	International Economics Thomas A. Pugel McGraw Hill	2013	16th Edition	-

Journals and Websites

Type	Description
Website
Website
Website
Website
Website
Website
Website

International Trade