EPN-V2

ØASØK3000 International Economics Course description

Course name in Norwegian
International Economics
Weight
7.5 ECTS
Year of study
2018/2019
Course history
Curriculum
FALL 2018
Schedule
Programme description

  • Introduction

    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.

  • Recommended preliminary courses

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

  • Required preliminary courses

    No prerequisites.

  • Learning outcomes

    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

  • Teaching and learning methods

    About 50 hours of teaching and exercises.

  • Course requirements

    No course requirements.

  • Assessment

    Individual written 4-hour exam will be held at the end of the semester.

  • Permitted exam materials and equipment

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

  • Grading scale

    Letter grading A-F.

  • Examiners

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

  • Course contact person

    Ivar Bredesen