ØASØK3000 International Economics Emneplan

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.

Grade scale 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

All organisations need a strategy. In different ways, all organisations compete for resources in the trade-off with the environment it operates in. Understanding value creation and survival through insight in the field of strategy is a key aspect of the course. This course in strategy formation will help to impart insight into the three dimensions of the strategy discipline: process, content and context. The course is particularly useful for students who want to work on strategy formation in staff functions, in management consulting or as a middle manager in future. Recent research and current articles will play a key role in the course.

None

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student

• insight and specialist insight into strategy, process and content that is fundamental to understanding how a strategy is developed
• knowledge and understanding of why an organisations competitive arena is important for understanding the environment within which a strategy is developed
• developed his/her ability to reflect in order to understand strategies at different levels
• up-to-date knowledge of the forefront of research and different strategic dilemmas in the area of strategy
• theoretical knowledge of what makes some organisations more able than others to resist pressure from competitors over time

Skills

The student is capable of

• analysing complex and comprehensive strategic issues
• applying methods for developing competitive advantages in organisations

General competence

The candidate has

• insight into relevant subjects and professional ethical issues
• can plan and execute varied work tasks and projects in accordance with ethical requirements and guidelines
• can communicate key subject matter such as theories and problems and solutions both in writing and orally
• can exchange views and experiences with others with background in the subject area and through this contribute to the development of good practice
• be familiar with innovative thinking and innovation processes

The course is taught in weekly sessions with assignments for submission, various forms of case discussions, including discussion of dilemmas relating to defining an organisation's goals and how this takes place in relation to different groups of stakeholders, presentations and participation in lessons.

The following coursework requirements must have been approved in order for the student to take the exam:

• Coursework 1: Teaching sessions in the course are compulsory. The teaching sessions in this course are compulsory in order to acquire the necessary competence to fulfill the course's learning objectives. The minimum attendance requirement is 80 percent active participation. These skills cannot be achieved by reading the syllabus and/or taking the exam alone.
• Coursework 2: 5 oral presentations of a maximum of 15 minutes. The presentations are carried out in groups of approximately 2-3 students. The presentations deal with articles, cases or relevant issues related to the syllabus.
• Coursework 3: Two written individual submissions totaling a maximum of 10 pages. Font and font size: Arial / Calibri 12 points. Line spacing: 1.5.

All required coursework and activities must be completed and approved by the given deadline in order for the student to take the exam. If one or more coursework requirements have not been approved, the student will be given the opportunity to give a new oral presentation or submit an improved version by a given deadline.

The exam in the course is a supervised exam of 5 hours.

No aids are permitted