THE UNIVERSITY of EDINBURGH

DEGREE REGULATIONS & PROGRAMMES OF STUDY 2022/2023

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DRPS : Course Catalogue : School of Economics : Economics

Undergraduate Course: International Economics (ECNM10087)

Course Outline
SchoolSchool of Economics CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 10 (Year 3 Undergraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryThe course is divided into two parts: (i) International trade and (ii) International macroeconomics. In the first part, the course introduces a number of models that help us understand the reasons why countries trade goods and services. Empirical evidence is provided to highlight the strengths and limitations of the introduced theories. In the second part, the course explores topics linked to the global macroeconomy. It presents a framework to analyse how the interdependence among countries shapes their economy-wide variables and draws links between theory and real world events. The aim of the course is to develop a systematic understanding of key issues related to international economics and show how economic theory can be employed to analyse large-scale economic problems in interdependent economies.
Course description Topics covered will include:

Key stylized facts of international trade; Gains of trade and the law of comparative advantage; Core models of international trade to overview different explanations on observed trade patterns (Ricardian model, Specific-factor model, Hecksher-Ohlin model); Exchange rates, currency crises; Balance of payments, debt and deficit.

The course is taught through a programme of lectures and tutorials. Part of the course content requires students to familiarise themselves with technical material, and knowledge of elementary calculus and statistics will be assumed.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed: Economics 2 (ECNM08006)
Co-requisites
Prohibited Combinations Other requirements None
Information for Visiting Students
Pre-requisitesVisiting students must have an equivalent of at least 4 semester-long Economics courses at grade B or above for entry to this course. This MUST INCLUDE courses in Intermediate Macroeconomics (with calculus); Intermediate Microeconomics (with calculus); and Probability and Statistics. If macroeconomics and microeconomics courses are not calculus-based, then, in addition, Calculus (or Mathematics for Economics) is required.
High Demand Course? Yes
Course Delivery Information
Academic year 2022/23, Available to all students (SV1) Quota:  None
Course Start Semester 2
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 20, Seminar/Tutorial Hours 6, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 170 )
Assessment (Further Info) Written Exam 85 %, Coursework 15 %, Practical Exam 0 %
Additional Information (Assessment) Coursework (open-ended essay): 15%
Final Exam: 85%
Feedback Feedback on coursework will take the form of a mark and written comments, which will be made available to students individually by email. Feedback on coursework will be provided three weeks after due date.
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S2 (April/May)2:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. A knowledge and understanding of key concepts, issues and models in international economics, along with empirical evidence on and policy implications of those models and a deeper understanding of recent research activity in some more specialised areas.
  2. Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
  3. Communication skills in order to critique, create and communicate understanding and to collaborate with and relate to others.
  4. Personal effectiveness through task-management, time-management, teamwork and group interaction, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
  5. Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
Reading List
There is no single textbook for this course, but typed notes on key topics will be provided. In addition, the course will make use of readings from economic journals.

For general background, students may refer to: Feenstra, R. C. and A. M. Taylor (2011), International Economics, Second Edition, Worth Publishers.
Additional Information
Graduate Attributes and Skills Research and Inquiry
B1. The ability to identify, define and analyse theoretical and applied economic problems and identify or devise approaches to investigate and solve these problems.
B3. The ability to critically assess existing understanding of economic and social issues, the limitations of that understanding and the limitations of their own knowledge and understanding of those issues.
B4. The ability to question the principles, methods, standards and boundaries of economic knowledge

Personal and Intellectual Autonomy
C1. The ability to be independent learners who take responsibility for their own learning, and are committed to continuous reflection, self-evaluation and self-improvement.
C4. The ability to collaborate and debate effectively to test, modify and strengthen their own views.

Communication
D1. The ability to make effective use of oral, written and visual means to critique, create and communicate understanding.
D2. The ability to further their own learning through effective use of feedback.
D3. The ability to use communication as a tool for collaborating and relating to others.

Personal Effectiveness
E1. The ability to manage tasks and also skills in time-management.
E4. The ability to work effectively with others, capitalising on their different thinking.
Additional Class Delivery Information One 2 hour lecture per week, plus tutorials.
KeywordsIntEcon
Contacts
Course organiserDr Georgios Manalis
Tel:
Email: Georgios.Manalis@ed.ac.uk
Course secretaryMiss Becky Guthrie
Tel:
Email: becky.guthrie@ed.ac.uk
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