Economic Integration I
| Code | School | Level | Credits | Semesters |
| ECON1013 | Economics | 1 | 10 | Autumn UK |
- Code
- ECON1013
- School
- Economics
- Level
- 1
- Credits
- 10
- Semesters
- Autumn UK
Summary
This module introduces students to the economics of integration. The module analyses the consequences for countries seeking closer economic integration through successively more ambitious forms. This begins with a limited trade arrangement, followed by a common market, which also allows free movement of capital and migrant workers, and a Single Market. The final part of the module examines monetary integration, beginning with exchange rate stabilisation and then considering Monetary Union. The module aims to combine principles of economic analysis with an assessment of the impact of such measures on the member economies.
Target Students
Available to Year 1 Undergraduate students on Economics degree programmes. Not available to Exchange students.
Classes
This module is delivered through a combination of lectures and tutorials.
Assessment
- 100% Exam 1 (1-hour): Exam
Assessed by end of autumn semester
Educational Aims
Introduce the economic analysis of relevant forms of regional economic integration, applying basic microeconomic and macroeconomic principles.Provide insight into the economic consequences of removing barriers to trade and factor mobility, and the economic costs and benefits of monetary integration.Provide an understanding of the measures taken in Europe to promote regional economic integration.Assess the consequences of integration measures in the European Union.Objectives:To demonstrate the principles of trade creation and trade diversion in free trade areas and customs unionsTo provide an understanding of the methods for and consequences of mutual reductions in non-tariff barriers including barriers to factor mobilityTo provide an analysis of the costs and benefits of monetary integration in a regional group, including the introduction of the Euro as a single currencyTo use the theoretical framework to analyse the impact of measures taken by the European Union.This module helps developskills in reflection of understanding of material through tutorial questions.Learning Outcomes
On completing this module, the learning outcomes are such that students will be able to:
Knowledge and Understanding:
- A2 Apply core economic theory and economic reasoning to applied topics
- A6 Extensive knowledge and skills in specific specialisms in economics
Intellectual Skills:
- B1 work with abstract concepts and in a content of generality
Professional / Practical Skills:
- C1 discuss and analyse government policy
- C4 understand the context in which a problem is to be addressed
Transferable Skills:
- D2 communicate effectively and clearly in written and oral formats