This subject exposes students to the theory of international trade, the theory and practice of commercial policy and the theory of open-economy macroeconomics and how they are related to regional development. Students will learn the motives for countries or organizations to restrict or regulate international trade and study the effects of such policies on economic welfare. Students are also required to apply the international trade theories to analysing real world international trade issues. Topics covered will include both modern and traditional trade theories and their foundations, various trade barriers, international trade regulations and policies, balance of payments and exchange rate determination.

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[Pre-requisite] BU1003 OR (EC1010 AND EC1020)

[Pre-requisite] BU1003 OR (EC1010 AND EC1020) Offerings: All

BX2134 - International Economics

International Economics

Compare the major models of international trade and distinguish between them in terms of their assumptions and economic implications

Research and comment on the major recent developments in the world trading system and their effects on individual economies

Analyse and evaluate the main arguments for trade protection and free trade policies

Identify the linkages between trade, labour and capital movements and their impact on the economic well-being

Evaluate international economics theories and apply these to a range of policy debates

Describe the principle of comparative advantage and interpret it within different theoretical models