ØASØK3000 International Economics Course description

Basic economic knowledge is pivotal for journalists reporting and understanding of contemporary societies. In this course, students will learn basic economics and accounting, and how to understand and present economic facts and interpretations in an accessible way. Using companies and national economies as cases, students will learn to reflect critically on economics and analyse financial statements.

It is assumed that students have completed introductory courses in Microeconomics and Macroeconomics.

Knowledge

The student has knowledge of

• the role of economics in contemporary societies
• the accessibility of economic and financial information in both public and private sector
• basic accounting and economics
• basic economic theory

Skills

The student

• can identify newsworthy information in budgets and financial statements
• can find and access sources of economic and financial information
• can present economic and financial information in an accessible way

General competence

The student

• can critically reflect upon the impact and role of economy in contemporary society
• can critically reflect upon the role of journalism for public understandings of economic and financial mechanisms

Knowledge

The student

• can describe the development of trade theory over time, from Smith/Ricardo, via Heckscher-Ohlin to modern trade theory based on imperfect competition
• knows how international trade affects economic growth and resource allocation domestically and internationally
• knows how international trade affects distribution of income
• knows which instruments are used in international trade policy and how these affect welfare
• is familiar with relevant models of economic integration
• is familiar with theories of exchange rate determination
• is familiar with stabilization policies in open economies under various exchange rate regimes

Skills

The student

• can show welfare effects of international trade graphically
• can use algebra to derive changes in distribution of income following international trade
• can show the effects of trade policy instruments graphically
• can use models to describe effects of stabilization policies

Competence

The student

• can reflect critically about current topics in international economic relations

Participation during class sessions is mandatory. Students who have more than 20 percent absence from class sessions will have to hand in an additional assignment. Students who have more than 25 percent absence from class sessions will not be qualified to take the exam.

In addition, the coursework requirements consist of three obligatory assignments. Two of the assignments will be related to the practice of economic/financial journalism, while the third is a discussion assignment focusing on a subject from the required reading. All three assignments must be approved before the student can take the exam.

If the assignment is not approved, the student may hand in a new, improved version within a set deadline. In the event of illness or other documented absence for compelling reasons, special deadlines can be agreed with the lecturer. If a student fails to submit work within the deadline stipulated in the course plan or agreed with the lecturer, the assignment cannot be submitted, and the student will lose the right to take the exam.

Three day take home exam. Analytical paper, 6-8 pages.

The evaluation is graded according to a scale from A to E for passed and F for not passed.

Students who have failed the ordinary examination, and students with legitimate absence, are entitled to a new examination.

One internal evaluators will set the grades. 25 per cent of the exams will be assessed by an external and an internal examinator. The internal examiner’s assessment of all papers shall be based on the external examiner’s assessment.

Letter grading A-F.

In addition to the instructor, an external examiner will grade the exam.

Ivar Bredesen