| Institute of Food and Resource Economics | |||||||||||||||||||||
| Earliest Possible Year | BSc. 1 year | ||||||||||||||||||||
| Duration | One block | ||||||||||||||||||||
| Credits | 7.5 (ECTS) | ||||||||||||||||||||
| Course Level | Joint BSc and MSc Compulsory BA-course in Agricultural Economics Common course for all other studies | ||||||||||||||||||||
| Examination | Final Examination written examination Written Exam in Lecturehall All aids allowed Description of Examination: 4 hours written examination Weight: 100 percent 13-point scale, internal examiner Dates of Exam: 24 June 2006 | ||||||||||||||||||||
| Organisation of Teaching | Lectures and exercises | ||||||||||||||||||||
| Block Placement | Block 4 Week Structure: A | ||||||||||||||||||||
| Teaching Language | English | ||||||||||||||||||||
| Optional Prerequisites | Micro Economics | ||||||||||||||||||||
| Areas of Competence the Course Will Address | |||||||||||||||||||||
| Competences obtained in basic science: Knowlegde of general equilibrium analyses 2x2x2 models at a graphical and intuitive level, comparative advantage, models of Increasing Returns to Scale, imperfect competition, international economic cooperation of GATT/WTO, EU the reasons behind it and their importance today Competences obtained in applied science: apply obtained basic science knowledge to trade theory in the following areas: Ricardo-model, Heckscher-Ohlin model including a discussion of the strengths and weaknesses of the assumptions behind it, and pros and cons of free trade Competences obtained in ethics & values: Is avare of the political economy of free trade and globalization | |||||||||||||||||||||
| Course Objectives | |||||||||||||||||||||
| To make the students understand issues regarding increasing economic internationalisation (globalization) and at a broader level international economic relations. The analysis will build on and further develop microeconomic tools, and the applicability of these tools in other economics courses should be evident after finishing this course. | |||||||||||||||||||||
| Course Contents | |||||||||||||||||||||
| The course has three parts: The first deals - in a broad sense - with international trade theory. The second with the political economy of trade, and the third with international economic relations. In the first part standard models explaining why trade emerges between different countries are introduced. These include the theory of comparative advantage and the Ricardian model, The Heckscher-Ohlin model and a discussion of the assumptions behind it. Also, models trying to explain why trade emerges between similar countries in similar products are introduced. They include models of Economies of Scale and imperfect competition. In the second part the effect of globalization in terms of gains and losses from trade, and the effect on income distribution within a country and across countries are analysed. The case for and against free trade is discussed. In the third part the extensive international cooperation in relation to trade and industrial policies is examined. At the global level there is cooperation in the GATT/WTO and at the regional level in the EU. The course explains the reasons behind it and analyses the results of the international cooperation. | |||||||||||||||||||||
| Teaching And Learning Methods | |||||||||||||||||||||
| The teaching is based on lectures that presents the central elements of the curriculum of international economics. In following theoretical exercises the students will work in groups with both practical and theoretical problems. Furhtermore there will be a degree of self sudies. | |||||||||||||||||||||
| Course Litterature | |||||||||||||||||||||
| Kjeldsen-Kragh: International Economics, Krugman and Obstfeld: International Economics. Theory and Policy. Varian (el.lign): Intermediate Microeconomics | |||||||||||||||||||||
| Course Coordinator | |||||||||||||||||||||
| Hugh Kelley, huk@foi.dk, Institute of Food and Resource Economics/International Economics and Policy Division, Phone: 35336863 | |||||||||||||||||||||
| Study Board | |||||||||||||||||||||
| Study Committee NSN | |||||||||||||||||||||
| Course Scope | |||||||||||||||||||||
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