MN429 Half Unit
The World Trading System
This information is for the 2014/15 session.
Teacher responsible
Dr Veronica Rappoport-Redondo NAB5.29
Availability
This course is available on the MSc in Economics and Management, MSc in International Management, MSc in Management and Regulation of Risk, MSc in Management and Strategy and MSc in Risk and Finance. This course is available with permission as an outside option to students on other programmes where regulations permit.
Pre-requisites
Basic Knowledge of Mathematics and Economics
Course content
The course studies a key component of the "globalization" process: the negotiation, implementation and implications of international trade agreements (ITAs). These include the World Trade Organisation and the fast-growing web of regional trade agreements. We analyse the challenges and opportunities faced by companies engaged in the global economy in this context. The course relies on recent theoretical and empirical research to gain insight into the motivations for ITAs and their consequences for consumers and firms. Globalisation - trends in the international economy and overview of their causes and effects. The sources of international trade. Trade barriers - restrictions to international trade and their consequences. The economics and politics of international trade agreements. The rules, accomplishments and shortcomings of the GATT/WTO system. Regional trade agreements - motivation, implications, and recent trends. The costs and benefits from exporting for individual firms. Challenges and opportunities for national and multinational firms in the global economy.
Teaching
10 hours of lectures and 10 hours of seminars in the MT. 1 hour of lectures in the ST.
Formative coursework
A mock examination will be held.
Indicative reading
Robert Feenstra and Alan Taylor, International Economics, Worth Publishers, 2008. Kyle Bagwell and Robert W. Staiger, "The Economics of the World Trading System," MIT Press, 2004. The World Trade Organisation, "The WTO and preferential trade agreements: From co-existence to coherence," World Trade Report, 2011. Bernard M. Hoekman, Aaditya Mattoo, Philip English (editors), "Development, Trade, and the WTO: A Handbook," World Bank, 2002. Andrew Bernard, J. Bradford Jensen, Stephen Redding and Peter Schott, Firms in International Trade, Journal of Economic Perspectives 21(3), 105-130, 2007.
Assessment
Exam (100%, duration: 2 hours) in the main exam period.
Key facts
Department: Managerial Economics and Strategy Group
Total students 2013/14: 36
Average class size 2013/14: 16
Controlled access 2013/14: Yes
Lecture capture used 2013/14: No
Value: Half Unit