International Economics

Course content

This course explores the theoretical foundations of International Trade. The course focuses on why nations trade, what they trade, and how free trade can be beneficial or detrimental to trading countries. We will also discuss what governments can do to influence trade flows and how government policy can be used as a strategic tool by a country to achieve its own international objectives; the political debate surrounding such policies are also surveyed. The topics covered in the course include:

  • Classical trade theories
  • Theories of trade with imperfect competition
  • Trade policy theory
  • The political economy of trade

 

Education

Bacheloruddannelsen i jordbrugsøkonomi
MSc Programme in Animal Science

Learning outcome

After completing this course a student should be able to:


Knowledge

  • identify and distinguish between different international trade models by their assumptions
  • describe and compare the main features and results of the different models


Skills

  • derive comparative statics within the economic models of international trade covered in the course
  • explain the outcome of comparative statics in terms of model mechanics, assumptions and economic logic


Competences

  • apply relevant economic theories to real world issues. This involves i) setting up an economic model applicable to the real world issue; ii) conducting relevant analyses (comparative statics) within the model; and iii) interpreting the results in terms of real world concepts and providing policy conclusions/recommendations
  • evaluate the applicability of different economic models for analysing specific real world issues

 

The course mixes lectures, theoretical exercises, project work and home assignments.

The teaching is based on lectures combined with small theoretical exercises that introduce the students to the central elements of the curriculum of international economics. Time is also reserved for project work, in which students use their acquired theoretical knowledge to analyse real world issues. During the course, a number of home assignments must be prepared and submitted to the teacher for approval.

The course uses an undergraduate textbook in International Economics to be announced on the course website at least two weeks prior to the start of the course. An example of such a textbook is

Robert Feenstra and Alan Taylor, "International Trade", 3rd edition, Worth Publishers

Knowledge of first year Microeconomics and Mathematics

The course is a bachelor course for Agricultural Economics. May be taken as a master level course for all other studies

ECTS
7,5 ECTS
Type of assessment
Written assignment, 24 hours
Take-home exam
Aid
All aids allowed
Marking scale
7-point grading scale
Censorship form
No external censorship
one internal examiner
Criteria for exam assessment

See the Learning Outcomes

Single subject courses (day)

  • Category
  • Hours
  • Lectures
  • 24
  • Theory exercises
  • 24
  • Project work
  • 24
  • Preparation
  • 122
  • Exam
  • 12
  • English
  • 206