Dr Thomas Sampson & Dr Jose Vasquez

Globalisation has seen the integration of world markets. Goods made in Asia can be sold in Europe at a fraction of the cost, and technology has allowed activities to be outsourced for greater efficiency. As a result, governments have to carefully consider their trade policies and the macroeconomic landscape to ensure local social and economic goals are met.

This course provides an analysis of the economic relationships between countries, covering both trade and monetary issues. The first half of the course deals with international trade theory and policy. You will explore important topics such as why countries trade with each other and the effect of international trade on welfare and income distribution. You will also analyse the role of firm heterogeneity in international trade and the links between globalisation and inequality.

The second half of the course considers international macroeconomics. Covering key topics such as the balance of payments accounts, open economy income identities, and the effect of currency valuations, you will gain a comprehensive understanding of the current policy environment and its impact on international trade relations. By the end of the course, you will be able to apply the theory and economic frameworks to analyse the macroeconomic landscape and the alternative policy options available to governments across the world.