International Economics
| Code | School | Level | Credits | Semesters |
| BUSI3204 | Nottingham University Business School China | 3 | 10 | Spring China |
- Code
- BUSI3204
- School
- Nottingham University Business School China
- Level
- 3
- Credits
- 10
- Semesters
- Spring China
Summary
PRE-REQUISITE
Please note that for this module, the following pre-requisite applies:
BUSI1118 Microeconomics for Business
(Please ignore Requisites: N/A below)
This module develops further topics under the framework of international economics. Briefly reviewing some classic trade models, we discuss the economic and welfare implications of international factor movements. Then new trade theory based on heterogeneous firms will be introduced. For trade policies, we extend the discussions about tariffs to other measures, and analyze international policy coordination and multilateral trade agreements. Next, we move to international finance and open economy macroeconomics where the international monetary system and common currency areas will be carefully examined. The Asian currency crisis and European sovereign debt crisis will be used as case studies. Finally, we pay special attention to China’s experience during its globalization process. Issues such as Belt and Road Initiatives (BRI), RMB internationalization, International trade and the impact on China’s growth will be investigated. The theoretical background is used as a basis to solve problems, understand events in the world economy, discuss policy issues, and prepare students for advanced studies in economics.
Re-assessment format is decided by the school.
Target Students
Year 4 IBE students only.
Classes
- One 1-hour tutorial each week for 3 weeks
- Two 1-hour lectures each week for 10 weeks
Assessment
- 100% Exam (2-hour): 2 hour exam
Assessed by end of spring semester
Educational Aims
The module aims to introduce participants to key concepts of international economics, and to provide economic tools to understand and work with trade and international finance models. The emphasis is on the analytical skills for policy debate from international perspectives and the understanding of the global economy.Learning Outcomes
Knowledge and understanding: This module develops a knowledge and understanding of:
1 Economic policy with an understanding of analytical methods and model-based argument and of different methodological approaches and their strengths and limitations.
1 Ability to apply core economic theory and economic reasoning to applied topics.
1 The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
1 Conceptual and critical thinking, analysis, synthesis and evaluation.
Other:
1 The ability to understand business problems and phenomena in terms of economic principles and models.
1 The ability to understand the operation of the macroeconomy.
1 Self-management and a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
1 Articulating and effectively explaining information.
Other:
1 Subject-specific transferable skills including analysis and problem-framing.
Conveners
- Dr Jiarui Zhang