AØKA08021U International Economics (p)

Volume 2023/2024
Education

MSc programme in Economics – elective course

Bacheloruddannelsen i økonomi – Prioriteret valgfag på 3. år (angivet med et p)

The Danish BSc programme in Economics - prioritized elective at the 3rd year (symbolized by ‘p’).

The course is no longer a part of the Financial line.

 

The course is open to:

  • Exchange and Guest students from abroad
  • Credit students from Danish Universities
  • Open University students
Content

This course introduces students to the main theories and empirical methods in the field of international economics. The focus is international trade, but we will also cover selected topics in international monetary economics.

 

The course is designed for 3rd year BSc students, but is also open to MSc students.

 

The class centers on the workhorse models of international trade: The Ricardian model, the Heckscher-Ohlin model and the Krugman model, and discusses traditional and modern theories of trade policy.

 

All theoretical topics will be linked to empirical evidence, both in lectures and in hands-on exercises in class. As such, students will learn to analyze data on e.g. tariffs and trade flows and interpret the results through the lens of workhorse theories.

 

We seek to answer questions such as:

  • Why do countries trade?
  • Who gains and who loses from trade?
  • What is the impact of trade policy on welfare?
  • How does international trade affect the environment?

 

The course also considers aspects of the globalization debate:

  • Is wage inequality affected?
  • What are the implications of multinationals and offshoring?
  • Is trade good or bad for the environment?
  • How would various policy changes discussed in the news affect trade, welfare and inequality?
Learning Outcome

After completing the course the student is expected to be able to:

 

Knowledge:

  • Account for why international trade arises
  • Define and explain trade patterns under perfect and imperfect competition
  • Identify welfare gains from trade

 

Skills:

  • Analyze and calculate how trade affects the behaviour of firms and consumers and how trade affects welfare and inequality
  • Examine how trade policy affects firm behaviour and analyze and calculate welfare implications of trade policy

 

Competencies:

  • Convert the material of the class into actionable trade policies
  • Understand, discuss and evaluate current policy proposals in light of the theory presented in class

 

  • Feenstra, R.C. and A. M. Taylor (2021), International Economics, Fifth edition, MacMillan. Selected chapters.
  • Supplementary material based primarily on journal articles and book chapters.
Knowledge of basic economic principles from the courses "Principle of Economics A" and "Principle of Economics B".

Knowledge of micro economics (consumer and firm optimization using calculus) from the course "Microeconomics I" and "Microeconomics II".

Knowledge of empirical methods (cross sectional and panel regression analysis) and tools (Stata or equivalent) from the course "Econometrics I".
Lectures and exercise classes.
  • Category
  • Hours
  • Lectures
  • 42
  • Class Instruction
  • 28
  • Preparation
  • 133
  • Exam
  • 3
  • Total
  • 206
Oral
Individual
Collective

Office hours: The lecturers offer office-hours. The lecturers inform when and where.

 

Credit
7,5 ECTS
Type of assessment
Written examination, 3 hours under invigilation
Type of assessment details
ITX-exam in the exam venues of the university.

The exam assignment is in English and must be answered in English.
Exam registration requirements

To qualify for the exam the student must during the semester and no later than the given deadlines:

  • Hand in 1 written assignment. 
Aid
Without aids

No aids allowed at the written ITX-exam.

Information about allowed aids for the re-examination, please go to the section "Re-exam".

Marking scale
7-point grading scale
Censorship form
No external censorship
No external censorship at the written exam.
The written ITX-exam may be chosen for external assessment by random sample.
An oral re-examination may be with external assessment.
Exam period

 

Exam information:

The exact time and place will be available in Digital Exam from the middle of the semester. In special cases decided by the Department, the exam can change to another place, type, day and/or time than announced. 

More information about examination, rules, aids etc. at  Master(UK),  Master(DK) and  Bachelor(DK).

Re-exam

The reexam is a 20 min. oral exam with 20 min. preparation time. 

External assessment. 

No aids are allowed.

  

Reexam information:

More information in Digital Exam in August. In special cases decided by the Department, the re-sit can change to another day, and/or time than announced

More info:  Master(UK), Master(DK) and  Bachelor.

 

Criteria for exam assesment

Students are assessed on the extent to which they master the learning outcome for the course.

 

In order to obtain the top grade “12”, the student must with no or only a few minor weaknesses be able to demonstrate an excellent performance displaying a high level of command of all aspects of the relevant material and can make use of the knowledge, skills and competencies listed in the learning outcomes.

In order to obtain the passing grade “02”, the student must in a satisfactory way be able to demonstrate a minimal acceptable level of  the knowledge, skills and competencies listed in the learning outcomes.