ULMS Electronic Module Catalogue |
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module. |
Title | INTERNATIONAL ECONOMIC RELATIONS | ||
Code | ECON354 | ||
Coordinator |
Dr B Murakozy Economics Balazs.Murakozy@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2021-22 | Level 6 FHEQ | First Semester | 15 |
Pre-requisites before taking this module (other modules and/or general educational/academic requirements): |
Modules for which this module is a pre-requisite: |
Programme(s) (including Year of Study) to which this module is available on a required basis: |
Programme(s) (including Year of Study) to which this module is available on an optional basis: |
Teaching Schedule |
Lectures | Seminars | Tutorials | Lab Practicals | Fieldwork Placement | Other | TOTAL | |
Study Hours |
12 |
24 12 |
48 | ||||
Timetable (if known) | |||||||
Private Study | 102 | ||||||
TOTAL HOURS | 150 |
Assessment |
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EXAM | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Assessment 2: Examination Assessment Type: Written Unseen Examination, Managed by SAS Duration: 2 hours Weighting: 70% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL pena | 2 hours | 70 | ||||
CONTINUOUS | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Assessment 1: On-line assignments Assessment Type: Practical Assessment Duration/Size: 6 online assessments with 10 questions each Weighting: 30% Reassessment Opportunity: Yes Penalty for L | 6 online assessments | 30 |
Aims |
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The aim of this module is to provide a detailed coverage of the nature and determinants of the pattern of world trade and financial, capital and labour flows. The module also aims to provide students with a critical appreciation of why conflicts arise between nations due to international economic activity and what policy options are most appropriate for countries both individually and cooperatively to adopt. Throughout the module emphasis will be placed upon the role of theory in enhancing understanding of the patterns and nature of trade flows (in the context of both goods and services) in the context of the key issues in international economic relations. |
Learning Outcomes |
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(LO1) Students will be able to explain why countries gain from trade and what pattern of trade flows exist using the key concepts in international trade theory. |
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(LO2) Students will be able to explain why countries engage in trade protection, as well as predict and analyze the consequences that arise in case such protection is applied |
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(LO3) Students will become familiar with key measures and data sources on international trade. |
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(LO4) Students will be able to explain the effects of multilateral and regional trade agreements and institutions. |
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(LO5) Students will be able to explain why conflicts arise in the areas of labour migration and environmental pollution and suggest policy responses which may be used to correct such problems |
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(LO6) Students will understand how the key concepts of international trade are useful when analysing business decisions regarding internationalization and global production. |
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(LO7) Students will understand which countries/groups will benefit or loose from trade and trade protection and what policies can help these groups. |
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(S1) Problem-solving skills |
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(S2) numeracy |
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(S3) commercial Awareness |
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(S4) Communication skills |
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(S5) It skills |
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(S6) International awareness |
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(S7) Lifelong learning skills |
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(S8) Ethical awareness |
Teaching and Learning Strategies |
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Teaching Method – Online Asynchronous Learning Materials Self-Directed Learning Hours: 102 Costs Information: There are the following non-modular requirements: Skills/Other Attributes Mapping Skills / attributes: Ethical awareness Skills / attributes: Lifelong learning skills Skills / attributes: International awareness Skills / attributes: It skills Skills / attributes: Communication skills Skills / attributes: commercial Awareness Skills
/ attributes: numeracy Skills / attributes: Problem-solving skills |
Syllabus |
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Introduction to key concepts; Effects of opening up to trade (partial equilibrium) Absolute and comparative advantage; The sources of comparative advantage (Factor models of trade); Increasing returns to scale as source of gains from trade: intra-industry trade and the new trade theory; Global production; Common methods of trade protection and their economic consequences; The political economy of trade protection; Trade agreements, institutions of global trade and Regional trade blocs: the example of the North American Free Trade Association and the European Union; |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. |