ØASØK3000 International Economics Course description

International Economics as a subject is concerned with effects of economic relations among nations. This is particularly relevant for small open economies like Norway. The first part of the course covers international trade theory. Why do nations trade, and what effects does this have on the domestic economy. Next, trade policy is analyzed. Why do some nations want to restrict the volume of trade, and what economic effects does this have on domestic efficiency and income distribution. Finally, the course will cover open economy macroeconomics, in particular stabilization policies under different exchange rate regimes.

Letter grading A-F.

No prerequisites.

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

About 50 hours of teaching and exercises.

No prerequisites.

Knowledge

The student

• has broad knowledge of the international market environment,
• has knowledge of internationalisation theories
• has knowledge of information systems and market research involved in analyzing and selecting international markets
• can make informed choices concerning entry modes and strategic alliances
• understands how the "4 P's" in an international setting

Skills

The student

• can use relevant theories and methods of analysis to solve cases involving typical international marketing decisions.
• the student can choose and apply relevant theory and models in order to select markets to enter
• the student can use relevant theory and models to analyze international markets and select the appropriate mode of entry

General Competencies

• The student can present case analysis and recommendations in class and provide other students with feedback on their presentations
• the student can review and convey the content of academic journal articles
• the student can discuss the key topics in this domain and thus contribute to others' learning and development

The course material is presented through lectures, case discussions in class and group projects throughout the term. Students will present literature reviews and case analyses group wise (maximum five students per group).

Required work portfolio consists of three graded assignments:

1. Written case analysis - to be submitted prior to in-class presentation
2. Written literature review - to be submitted prior to in-class presentation
3. Case opponent - brief outline to be submitted prior to class and in-class participation on case discussion

All cases are assigned by teacher. Both written submissions and in-class presentations/discussion of assigments contribute towards the grade.

The student must achieve an overall passing grade on the portfolio part of the course to be eligible to sit for the exam.

There will be given one total grade for the course. The total grade consist of a four-hour school exam, that accounts for 70% of the grade, and a portfolio of three mandadory assignments that accounts for 30%. Required work for the portfolio consist of group presentations of case analyses and literature reviews (presentations of 8 minutes each). The student must pass the portfolio part of the course to be eligible to sit for the exam.

The portfolio and the written exam can be taken again separately. It is not necessary to re-sit both exams.

A list of reference aids allowed will be published on our website.

One dictionary: Native language-English/English-native language or English-English