Economic Integration I
| Code | School | Level | Credits | Semesters |
| ECON1030 | Economics | 1 | 10 | Autumn Malaysia |
- Code
- ECON1030
- School
- Economics
- Level
- 1
- Credits
- 10
- Semesters
- Autumn Malaysia
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 custom union, common market, and an economic union. In this module we also explore monetary integration, beginning with exchange rate stabilisation and then considering monetary union. The final part of the module examines the integration of financial markets. 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 all students. This Module has been identified as being particularly suitable for first year students, including those from other Schools. Available to JYA/Erasmus students. This Module has been identified as being particularly suitable for first year students, including those from other Schools.
Classes
- One 1-hour tutorial each week for 3 weeks
- One 2-hour lecture each week for 10 weeks
Assessment
- 25% Coursework 1: Individual essay
- 75% Exam 1 (1-hour): take home exam
Assessed by end of autumn semester
Educational Aims
To introduce the economic analysis of relevant forms of regional economic integration, applying basic micro and macroeconomic principles. To provide insight into the economic consequences of removing barriers to trade and factor mobility, and the economic costs and benefits of monetary integration. To provide an understanding of the measures taken to promote regional economic integration.To assess the consequences of integration measures.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 a single currencyTo use the theoretical framework to analyse the impact of measures taken by regional blocs such as the European Union.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
A3 show understanding of analytical methods, both theory- and model-based
A6 discuss and analyse government policy
A7 demonstrate extensive knowledge and skills in specific specialisms in economics.
Intellectual Skills:
B1 apply complex ideas to solve problems
B2 work with abstract concepts and in a content of generality
B3 reason logically and work analytically
B5 understand the context in which a problem is to be addressed.
Professional / Practical Skills:
C1 develop appropriate economic models
C3 justify conclusions using economic arguments with appropriate rigour.
Transferable Skills:
D2 communicate effectively and clearly in written and oral formats
D5 undertake independent study of a problem or subject.
Conveners
- Dr Wing Leong Teo