The world economy is becoming increasingly integrated and interdependent in terms of the economic ties linking countries and regions. Three ways in which countries are linked are through the exchange of goods and services (trade), investment flows (capital mobility) and migration (labour mobility). This module builds on introductory micro and macro economic principles in order to provide students with the tools of analysis necessary to examine the international economy and to explore the key issues that are shaping our global economy. The emphasis is on current issues in international economics. In this module we examine international trade and factor mobility, as well as concentrating on how economics and politics interact to understand the existence, or absence, of certain policies at an international level.

The module covers the following topics which include (i) The International Economy and Globalisation (ii) Foundations of Modern Trade Theory (iii) Sources of Comparative Advantage (iv) Tariffs (v) Non-Tariff Barriers (vi) Trade Regulations and Industrial Policy (vii) Trade Policies for Developing Countries (viii) Regional Trade Agreements (ix) Balance of Payments and (x) Foreign Exchange Markets and Determination of Exchange Rates

On successful completion of this module students will be able to: Explain the most important International Trade Theories. Demonstrate how international trade can impact the welfare of consumers and producers in small and large countries. Explain how economic globalisation has impacted and continues to impact world economic welfare. Explain how exchange rate movements can impact the domestic & global economy. Demonstrate how government policy can influence trade outcomes for individual countries.

On successful completion of this module students will be able to: Participate in debates regarding the importance of economic globalisation to the world economy. Appreciate the complexity of global trade negotiations and the varying impacts of global trade on particular nations.

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The module is delivered through a combination of lecture and tutorial contact hours, as well as private study hours. Each lecture is a mixture of multimedia presentations on key concepts and issues within international economics. Discussions of recent developments and research papers related to the global economy are incorporated into the module. Tutorials are dedicated to providing students with a platform for greater discussion of the module content, as well as helping students to complete relevant topic review questions. The review questions are designed to engage students and evoke their curiosity on the extent, implications and impact of trade on the international economy. They gain significant knowledge on the importance of trade in sustaining long tern global economic growth while appreciating the impact of trade on the growth in GHG emissions. In class discussion around the trade off between increased trade and economy growth and the environment develops the students ethical responsibility around the maintenance of high quality environment for future generations. In addition, through written exercises and class discussions students will have the ability to communicate to academic and non-academic audiences on the importance of addressing disparities in global trade relations.