Course Information Undergraduate prospectus

Economics of International Development and Finance

Course summary

Course code: ECON1042
Level: 6
Credits: 30
School: Business Faculty
Department: International Bus and Economics
Course Coordinator(s): Tesfa Mehari

Specification

Aims

To develop a detailed knowledge and critical understanding of the causes and influences of international trade. To examine the theories, policies and the empirical evidence on international trade. To provide appreciation of the magnitude and complexities of the development challenges in the 3rd world. To critically evaluate the theories and applications of development models. To develop a critical understanding of micro/macroeconomic context of international financial system and exchange rate regimes. To critically evaluate the rationale and performance of global financial institutions.

Learning outcomes

A Knowledge and understanding of: Economics of globalization. Internationalization of production and the markets for factors of production. Factors determining world trade and the ability/limitations of trade theories. The tools of trade policy used by governments. Critical analysis of the theoretical basis for regional economic groupings. Development theories, policies, and institution. Challenges and opportunities in emerging markets. Theories and institutions of the international financial system. Causes and effects of instability in the international capital market. Microfinance and development. B Skills, qualities, and attributes: Apply critical thinking to problems. Synthesize information and theories from different sources. Understand and explain multidimensional causality in complex international issues. Construct coherent, well-structured argument and defend it in writing and orally. Write well-informed essays and presentations. Undertake independent study by researching a range of materials. B1 Breadth of outlook The economic, technological and political, social dimensions of international business. Internationalization and regionalization trends in world trade. North-South economic relations & the South-South alternative? B2 Wisdom Demonstrate ability as an effective team member. Demonstrate ability as an autonomous and independent learner. Appreciate the limitations of models and the innovation needed in their applications. B3 Personal effectiveness Be capable of assuming responsibility for independent learning. Be able to write clear and logical presentations, and to engage in oral debate persuasively. To manage collaborative learning relationships with peers and academic staff. C Subject specific skills Understand the microeconomic and macroeconomics foundations of international business. Appreciate the similarities and differences in the economic challenges faced by developed and less developed countries and between the different sectors of the global economy. Distinguish between structural and policy-induced problems and their respective solutions. D Transferable skills D1 Critical thinking Be able to interpret and synthesise knowledge. Reflect on and challenge their own and others' thinking. D2 Information management Manage data sets in terms of creation, storage, retrieval and transformation. Synthesise data and information into knowledge and present outcomes effectively in various formats. D3 Communication skills Demonstrate verbal presentation skills. Demonstrate effectiveness in managing the dynamics of group behaviour and collaborative learning, both in person and through ITC media such as e-mail. Use communication tools such as PowerPoint and spreadsheets to a professional standard. Demonstrate ability to argue, defend and amend intellectual positions.

Indicative content

A Knowledge and understanding of: Economics of globalization. Internationalization of production and the markets for factors of production. Factors determining world trade and the ability/limitations of trade theories. The tools of trade policy used by governments. Critical analysis of the theoretical basis for regional economic groupings. Development theories, policies, and institution. Challenges and opportunities in emerging markets. Theories and institutions of the international financial system. Causes and effects of instability in the international capital market. Microfinance and development.

Teaching and learning activity

Learning and teaching activities will contribute to learning outcomes as follows: A. Knowledge and understanding, via: Lectures, seminars, directed and self-managed reading, research activities. B. Intellectual skills, via: Analysis and comparison of key theory and practice presented in text chapters and contemporary case studies. Debate and appreciate interpretations and applications of academic theory and practice. B1 Breadth of outlook, via: Lectures, seminars, self-directed learning and research, feedback from tutors. B2 Wisdom, via: Lectures, seminars, case studies, and expert opinion. B3 Personal effectiveness, via: Preparation and presentation of case study and other directed assignments and tutorial activities. Participation in seminars. C. Subject specific skills, via: Research across a range of media. Presentations and coursework. D. Transferable skills D1 Critical thinking, via: Case study analysis, debate and presentation of findings. Review and assessment of the content of key materials on the reading list. Seminars activities and coursework. D2 Information management, via: Development of ITC and database management skills. Application of research skills. D3 Communication skills, via: Discussion, group presentation, and peer critique. Preparation for oral and visual presentations and coursework.

Learning Time (1 credit = 10 hours)
Contact Hours Lectures 50;
Seminars 25;
Practical sessions 0;
Tutorials 0;
Other 25;
Private Study 150;
Assignments: course work and other forms of assessment. Coursework 20;
Laboratory work 0;
Examinations 30;
Other 0.

Assessment

Exam: 60% weighting. Pass mark 40%.
3 hrs. close book.

Coursework: 40% weighting. Pass mark 40%.
4000 words.
Portfolio composed of:
• 2000 words essay;
• Team meeting minutes;
• In-class presentation;
• Group reflective report.