This course concentrates on the international economics dimension of globalisation that is international trade, finance and development. The subject matter of globalisation consists of issues raised by the economic interaction between sovereign states.
By the end of the module, you should be able to:
- distinguish between international and domestic economic issues
- distinguish the trade and monetary aspects of international economies
- understand comparative advantage and how differences in resources cause international trade
- understand the arguments for free trade despite the existence of losers
- understand how international organisations and agreements have promoted world trade
- relate the current account to changes in a country's net foreign wealth
Paul R. Krugman and Maurice Obstfeld, International Economics, Theory and Policy, (Latest edition, London: Pearson).
70% exam and 30% coursework