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.

The following assignments are obligatory:

- One short (300-500 words) written assignment based on one of the cases (attendance is mandatory for the case the student writes about)

- An essay, approximately 500 words, on an assigned topic

- An individual 7-minute oral presentation

Feedback will be given on all assignments. The essay must adhere to the rules established in -Mal for oppgaveskriving ved SAM- (available on the SAM home pages). In order to take the final exam, all obligatory assignments must be approved by the instructor. Students will be given the opportunity to re-submit obligatory assignments that have not been approved. If assignments are not approved after re-submission(s), students will not be allowed to take the exam.

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 course requirements.

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

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

The main purpose of the course is to improve the students' ability to communicate in English both in writing and orally in a professional context. The course is cross-curricular since a large part of the syllabus is related to subjects within business and economics. It will prepare the students to deal with real situations in the business world.

No prerequisites.

Knowledge

The student

• has a wide vocabulary in economic/administrative English
• knows the main oral and written genres of business communication
• knows the main points of grammar necessary for correct and idiomatic usage of the English language
• has knowledge of various cross-curricular business topics
• has knowledge of several issues in American society
• is familiar with some works of fiction in English

Skills

The student

• can write professional English
• can speak fluently about several business topics and various aspects of society and culture in English
• can deal with professional situations in the business world
• can understand spoken and written English used in a business context
• can use professional vocabulary in oral and written contexts
• is able to discuss, analyse and reflect on various issues in English
• has developed his/her practical problem-solving skills

Competence

The student

• has developed his/her communicative competence in English, which includes linguistic, intercultural and strategic competencies
• can function well in most professional situations internationally
• can apply his/her skills and knowledge of business English
• can understand English language curricula and lectures in other subjects better