| Department of Economics and Natural Resources (2003/2004) | |||||||||||||
| Earliest Possible Year | |||||||||||||
| Duration | 1 semester | ||||||||||||
| Credits | 12 (ECTS) | ||||||||||||
| Course Level | MSc | ||||||||||||
| Examination | written examination Aid allowed Description of Examination: 13-point scale, internal examiner Dates of Exam: 4 hours written exam and a written paper. | ||||||||||||
| Organisation of Teaching | Lectures 1 1/2 modul pr week | ||||||||||||
| Block Placement | F3, spring F4, spring F4 undervises kun fredag | ||||||||||||
| Teaching Language | English may be conducted in Danish | ||||||||||||
| Optional Prerequisites | Microeconomics. Agricultural policy analysis. | ||||||||||||
| Course Objectives | |||||||||||||
| The objective of this course is to give the students a profound knowledge of the WTO-system and other trading arrangements on the one side and the international monetary cooperation on the other side. After having followed the course the students know how different trade interventions work and how the different foreign currency regimes influence the economies and the trading in agricultural products. | |||||||||||||
| Course Contents | |||||||||||||
| The course is a macroeconomic course describing and analysing the international trading systems and the international currency systems. How have they developed? How are they working today and what are the economic consequences of the different systems especially for the agricultural sector? The course is divided into two parts one dealing with the real economy (trade and trade related topics) and the monetary economy dealing with foreign exchange rate topics.The part of the course dealing with the real economy is starting by analysing how different trade and agricultural intervention measures influence the economy and the agricultural sector. Then it is studied how different economic goals in the agricultural sector are influenced by the use of different trade instruments. The development of the multilateral trading system (GATT) is described and the obtained economic results are evaluated. The present WTO system is analysed especially in relation to the agricultural sector and the future reform possibilities are discussed. Regional trading arrangements such as the EU are treated. Trade preferences have also been offered especially to the developing countries and the economic consequences of these arrangements are dealt with. Different models are showing how different trading regimes for the agricultural sector influence the overall economic development. The results of different empirical trade models for agricultural products are discussed.In the monetary part of the course different currency systems are described and analysed. At present there are different systems such as a currency union (EU-12), pegged exchange rates (Denmark) and floating exchange rates (USA, EU-12 and Japan). What are the advantages and disadvantages of the different systems? The analyses are based on models showing how the foreign exchange may develop in the short and the long term and on models showing how economic policy works under different foreign exchange regimes. | |||||||||||||
| Teaching And Learning Methods | |||||||||||||
| The course is based on independent studies and active participation by the students. After having chosen a topic each student is writing a paper which should be delivered after the end of the course. The teaching topics may according to the choice of the students vary from year to year. | |||||||||||||
| Course Litterature | |||||||||||||
| Søren Kjeldsen-Kragh: International Tade Policy, Copenhagen 2001.Paul de Gauwe: International Money, Oxford 1996.Further course material will be provided. | |||||||||||||
| Course Coordinator | |||||||||||||
| Niels Kærgård, nik@life.ku.dk, Institute of Food and Resource Economics/International Economics and Policy Division, Phone: 35332264 Søren Kjeldsen-Kragh, skk@life.ku.dk, Institute of Food and Resource Economics/International Economics and Policy Division, Phone: 3528 | |||||||||||||
| Study Board | |||||||||||||
| Study Committee AHJ | |||||||||||||
| Course Scope | |||||||||||||
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