International Trade and Regional Integration
This module is an introductory graduate course on international trade. It covers the core trade theories under perfect and imperfect competition and applies them to understanding the pattern of trade, gains from trade, ‘new trade theory’ and trade with heterogeneous firms. The module also covers strategic trade policy, the formation of regional trade agreements, and the World Trade Organisation.
The topics covered in this module are relevant to anyone wanting to gain an appreciation for how the world economy works. Students acquire an in-depth understanding of international economics and the economics of regional integration, and learn to outline and assess the extent to which international trade theory and recent developments in trade policy analysis shed light on current national and international policy issues.
As a result of analysing and understanding the forces shaping the global economic analysed in this course, students are equipped with strong analytical skills which will help the pursue a career as an international economist either in academia, in a multilateral organisation, in the public or private sector.
Most of the resources for this module are available through the ELE (Electronic Learning Environment).
Full module specification
|Module title:||International Trade and Regional Integration|
|Duration of module:||
Duration (weeks) - term 2: |
This module aims to provide an in-depth understanding of international economics and the economics of regional integration and to outline and assess the extent to which international trade theory and recent developments in trade policy analysis shed light on current national and international policy issues.
ILO: Module-specific skills
- 1. demonstrate a solid understanding of international trade theory
- 2. show an awareness of both traditional trade theory and the most important recent developments in both theory and empirical research on international trade
- 3. demonstrate an appreciation of how these issues relate to current policy issues in international economics
ILO: Discipline-specific skills
- 4. demonstrate a broadened theoretical understanding of economic theory and how it can be applied to analyse policy issues
- 5. apply the analytical skills to issues associated with international trade and regional integration
- 6. demonstrate the ability to critically assess recent developments in theory and empirical research, including defining the research questions to be addressed, the appropriateness of the research methods used and the interpretation of the results, and the implications they carry for policy
ILO: Personal and key skills
- 7. demonstrate the ability to communicate logical arguments both orally and in writing, in a form accessible to academic and non-academic audiences
- 8. show the ability to think critically
- 9. demonstrate the ability to make independent use of a range of learning materials
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Written Examination||70||2 hours||1-9||Written|
|Individual Assignment||30||2500 words||1-9||Written|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Individual assignment (30%)||Individual assignment (2500 words)||1-9||1st September deadline for submission|
|2 hour written examination (70%)||2 hour written examination||1-9 period||August/September assessment|
• The Gains From Trade
• The Ricardian Model
• The Heckscher-Ohlin Model of Comparative Advantage
• New Trade Theory
• Trade and Firm Heterogeneity
• Strategic Trade Policy
• The Theory of Regional Integration
• The Theory of the WTO
Indicative learning resources - Basic reading
Bagwell, K. and R.W. Staiger (2002); The Economics of the World Trading System, MIT Press.
Dixit, A.K. and V. Norman, (1980); Theory of International Trade; : a dual, general equilibrium approach Cambridge University Press.
Feenstra, R.C. (2004); Advanced International Trade: Theory and Evidence, Princeton University Press.
Grossman, G. and K. Rogoff (1995); Handbook of International Economics, Volume 3, North-Holland.
Helpman, E. and P. Krugman (1985); Market Structure and Foreign Trade: Increasing Returns, Imperfect Competition, and the International Economy, MIT Press.
Module has an active ELE page?
Last revision date