SFB11615 International Economics (Vår 2016)

Emnet er tilknyttet følgende studieprogram

Compulsory for students on the Business Administration Programme, specializing in
- International Business
- International Communication

Optional for students on the Business Administration Programme, specializing in
- Economic Analysis
- Project Management and Corporate Consulting

Optional for other students on the Business Administration Programme.

Forkunnskapskrav utover opptakskrav

Microeconomics, Macroeconomics or equivalent.

Undervisningssemester

6th semester (spring).

Studentens læringsutbytte etter bestått emne

This subject will enable the student to achieve the following learning outcomes.

Knowledge
The student will have gained knowledge of

• core theories and models that explain trade between countries
• the effects of free trade on production, income, growth and welfare
• trade policy instruments such as customs tariffs and quotas, and their effects on production, trade and economic welfare
• theories and models of economic integration such as customs union and currency union
• exchange rate regimes and exchange rate determination
• stabilization policies in open economies under various exchange rate regimes
• Norway's foreign trade and integration with the global economy

Skills
The student can

• collect data and indicators for foreign trade and international competitiveness
• analyze various issues in a small, open economy using mathematical and graphic presentations of models for international trade and trade policy
• assess important factors that affect the competitiveness of individual companies, industries, and of countries as a whole
• discuss causes and effects of current shocks in the global economy and of different stabilization policies by using macroeconomic models

General competence
The student

• gets a better understanding of ongoing world economic problems and dilemmas and be able to reflect critically about current topics in international economic relations.
• understand the importance of international conditions to companies, economic outcome and economic policy in a small open economy like Norway

Innhold

• Introduction to core elements in international trade
• Review of classical, neoclassical and modern trade theory
• The effects of different trade policy instruments
• Movement of capital and labour between countries
• Exchange rate systems, determination of exchange rates, and Norwegian exchange rate policy
• International trade agreements such as EU, EEA, and GATT
• Globalisation in the global economy, and national competitiveness
• Selected topics for current discussions on balance of payments, globalisation, and trade policy.

Undervisnings- og læringsformer

Lectures. Group work with exercises and submission of a term paper. Supervision and feedback.

Arbeidsomfang

The course will give the student approximately 280 hours of work.

Arbeidskrav - vilkår for å avlegge eksamen

One written assignment (group work) must be approved by "pass" before students can optaim permission to take the final exam.

Eksamen

Four hours written examination
Aids allowed: calculator, mother tongue - English - mother tongue dictionary.
Grades: A - F.

The students have the right to complain on the grades given on the written examination.

If a student gets F, the re-sit exam might be arranged in June, in case three students sign up for the re-sit. If less than three apply for re-sit, the next exam will be a regular exam next Autumn. Students must be aware of that content, requirements and textbook may have changed, and it is a student's responsibility to check it and get updated. Students have to sign up for the exam within the deadline.

Evaluering av emnet

Litteratur

The readinglist was last updated 3 December 2015.

Marrewijk, Charles van (2012). International economics: theory, application, and policy. 2nd edition. Oxford: Oxford University Press. Selected chapters.
Smith, Pamela (2014). Global Trade Policy. Questions and Answers. Chichester: Wiley-Blackwell. Selected chapters. (Also available for Online Reading when logged in at HiØ)

Course material posted on the learning platform.