SE-420 International Economics
- ECTS Credits:
- 7.5
- Responsible department:
- School of Business and Law
- Course Leader:
- Gorm Jacobsen
- Lecture Semester:
- Autumn
- Teaching language:
- English
- Duration:
- 1 term
The course is connected to the following study programs
- Master's Programme in Business Administration
- Master's Programme in Business Administration (5 years)
Teaching language
EnglishRecommended prerequisites
SE-213 Microeconomics and SE-204 Macroeconomic, or equivalent courses
Course contents
This course is about international trade and international macroeconomics theory and how to use these theories to increase understanding on how international markets influence the development of welfare, business and the public sector in an open economy.
Students learn the concepts of absolute advantage and comparative advantage by way of showing how countries reach a higher welfare level by using their comparative advantage. Furthermore, students learn how to analyze intra industry trade, i.e. trade in the same kind of goods. During the course we explore who gains and who loses by international trade and also how migration affects industrial structure and income distribution in a country. We also analyze trade policy like tariffs on trade, export subsidies and import quotas.
Macroeconomics models are applied in order to discuss exogeneous shocs and business cycles in a small open economy like the Norwegian one. Susbsequently, we study how governments can achieve their inflation target.
Learning outcomes
Upon successful completion of this course the student should:
-
have knowledge of international trade theory, including the theory of comparative advantages and intra industry trade
-
be able to analyze the impact international trade and migration has on national industrial structure
-
apply theory in order to show who gains and who loses as a result of trade policies
-
apply macroeconomics models to analyze business cycles and macroeconomics policy in an open economy
-
demonstrate knowledge of ethical dilemmas in international markets, including efficiency under different market regimes and trade regimes
Examination requirements
Approved compulsory assignement. More information will be given in Canvas at the start of the semester.
Teaching methods
6 hours lectures and 2 hours group work per week. Significant personal effort is expected from the students through individual and group work with literature and assignments. Estimated workload is about 200 hours.
Evaluation
The person responsible for the course decides, in cooperation with student representative, the form of student evaluation and whether the course is to have a midway or end of course evaluation in accordance with the quality system for education, chapter 4.1.
Offered as Single Standing Module
No.
Assessment methods and criteria
4 hours written individual examination under supervision (in-school examination). Letter grades.
Reduction of Credits
This course’s contents overlap with the following courses. A reduction of credits will occur if one of these courses is taken in addition:
| Course | Reduction of Credits |
|---|---|
| SE-303 – International Trade and Economic Growth | 7.5 |