Third year module
Lecturer: Thomas Allen
This module provides an introduction to the core of international trade theory and policy. Attention is paid to the use and relevance of various economic models in explaining international trade and evaluating international trade policy. The main areas covered are: the Ricardian model of comparative advantage; neoclassical production and trade; factor endowments and trade; market structure, imperfect competition and trade; theory of trade policy.
On completion of this module the student will be able to demonstrate: an understanding of the central international trade theories explaining the patterns of trade, and the effects of trade and trade related policies on welfare; an understanding of the uses and limitations of simple partial and general equilibrium models to analyse economic phenomena.
2 hr written examination (80%), 1 hr class test (20%)