International Economics (F)
The course studies causes and consequences of international trade. We seek to answer questions such as:
- Why do countries trade?
- What do they trade?
- Who gains and who loses from trade?
- What is the impact of trade policy on welfare?
The course also considers aspects of the globalization debate:
- Is wage inequality affected?
- What are the implications of multinationals and outsourcing?
- How would various policy changes discussed in the news affect trade, welfare and inequality?
The purpose of the course is to give an introduction to traditional and new trade theories and selected topics in international monetary economics.
After completing the course, the student should be able to:
understand and describe why international trade arises
understand and describe trade patterns under perfect and imperfect competition
understand and describe the extent to which there are welfare gains from trade
analyze and calculate how trade affects behavior of firms and consumers and how trade affects welfare and inequality.
- Analyze and calculate how trade policy affectsfirm behaviour and analyze and calculate welfare implications of trade policy
- Understand and describe aspects of the globalization debate such as the impact of globalization on wage inequality, the role of multinational corporations, and labor market consequences of outsourcing.
- Under, discuss and evaluate current policy proposals in light of the theory presented in the class.
Lectures and exercise classes.
Students will be required to right a short memo (1-2) pages using the models of the class to discuss current events.
- Brander, J. and P. Krugman (1983), A 'Reciprocal Dumping' Model of International Trade, Journal of International Economics, 15, p. 313-321.
- Brander, J. and B. Spencer (1985), Export Subsidies and International Market Share Rivalry, Journal of International Economics, 18, p. 83-100.
- Feenstra, R.C. (2016), Advanced International Trade, Theory and Evidence, 2nd edition, Princeton University Press. Selected parts of chapters 1, 2, 3, 4, 5, 7, 8, and 9.
- Krugman, P. (1979), Increasing Returns, Monopolistic Competition, and International Trade, Journal of International Economics, 9, p. 467-476.
Micro- and macro theory of the first two years. Especially with the mathematical formalities of microeconomics. Note, this is not an easy class. Understanding of differentiation, calculus etc. is taking as a given.
3 hours lectures a week from week 6 to 20 (except holidays).
2 hours exercise class a week from week 6/7 to 21 (except holidays).
The overall schema for the 3rd year and Master courses can be seen at KUnet:
MSc in Economics => "courses and teaching" => "Planning and overview" => "Your timetable"
BA i Økonomi/KA i Økonomi => "Kurser og undervisning" => "Planlægning og overblik" => "Dit skema"
Timetable and venue:
To see the time and location of lecturesplease press the link/links under "Se skema" (See schedule) at the right side of this page (F means Spring).
You can find the similar information partly in English at
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-F20; [Name of course]”
-Select Report Type: “List – Weekdays”
-Select Period: “Forår/Spring – Week 5-30”
Press: “ View Timetable”
For foreign students not enrolled: Admission requirements, registration etc: Study Economics.
For gæste- og enkelfagsstuderende: Tilmelding via Uddannelse i Økonomi.
- 7,5 ECTS
- Type of assessment
Written examination, 3 hours under invigilationThe exam assignment is given in English and must be answered in English.
- Without aids
- Marking scale
- 7-point grading scale
- Censorship form
- No external censorship
No external censorship
for the written exam. The exam may be chosen for external censorship by random check
Criteria for exam assessment
Students are assessed on the extent to which they master the learning outcome for the course.
To receive the top grade, the student must with no or only a few minor weaknesses be able to demonstrate an excellent performance displaying a high level of command of all aspects of the relevant material and can make use of the knowledge, skills and competencies listed in the learning outcomes.
Single subject courses (day)
- Class Exercises
- Course number
- 7,5 ECTS
- Programme level
- Full Degree Master
Information about admission and tuition fee: Master and Exchange Programme, credit students and guest students (Open University)
Go to "Remarks".
Exam and re-sits: Go to "Exam".
- Department of Economics, Study Council
- Department of Economics
- Faculty of Social Sciences
- Morten Graugaard Olsen (3-726c74456a68747333707a336970)
Lectures: See ‘Course responsibles’
Exercise class 1:
Exercise class 2:
Are you BA- or KA-student?
Courseinformation of students