Durham University
Programme and Module Handbook

Undergraduate Programme and Module Handbook 2022-2023 (archived)

Module ECON1071: Introduction to the International Economy

Department: Economics

ECON1071: Introduction to the International Economy

Type Tied Level 1 Credits 20 Availability Available in 2022/23 Module Cap Location Durham
Tied to L100
Tied to L106
Tied to L109
Tied to L1R1
Tied to L103
Tied to L104
Tied to L105
Tied to LL12
Tied to LL02
Tied to LL01
Tied to VL52
Tied to VLL6
Tied to VLLA
Tied to CFG0
Tied to FGC1
Tied to FGC0
Tied to CFG1
Tied to CFG2
Tied to LA01
Tied to LA02
Tied to LMVA
Tied to LMV0
Tied to L112
Tied to N305
Tied to N306
Tied to N307

Prerequisites

  • None

Corequisites

  • Either Principles of Economics (ECON1011) or Introduction to Economics (ECON1101).

Excluded Combination of Modules

  • None.

Aims

  • Provide students with knowledge and understanding of the fundamental features of different types of economy, and of world trade and the international financial system.
  • Provide students with an understanding of international trade theory, of economic growth and economic transition/transformation.
  • Inform students of key concepts relevant to understanding/analysis of important developments and crises in the world economy.
  • Offer the opportunity to develop key skills.

Content

  • A range of material is covered at an introductory level with emphasis on topics such as:
  • Theories of knowledge. Science and social science.
  • Economic growth
  • Economic systems
  • International trade and protectionism
  • International factor movements.
  • The balance of payments and national income. Current, capital and financial accounts.
  • The determinants of imports, exports, financial flows.
  • Exchange rate analysis
  • The evolution of the international monetary system.
  • The economics of international integration
  • The evolution of the EU.
  • Economics Growth and development.
  • Global demographic trends.
  • The historical evolution of the US economy: Rise and fall of the ‘Socialist’ systems. The USSR and Eastern Europe.
  • East Asian growth miracle: China.
  • Emerging south Asian giant: India.
  • Resource curse economies: Case studies in Africa, and the Middle East.
  • The science, economics and politics of climate change.
  • Technological change, AI, robotics and the future of employment.
  • The rise and fall (?) of liberal democracy.
  • The political economy of international terrorism.

Learning Outcomes

Subject-specific Knowledge:
  • Understanding of the key features of different types of economic system.
  • Understanding of key institutions in the world economy.
  • Knowledge and understanding of relevant economic concepts.
  • Understanding the causes and impact of change on economies.
Subject-specific Skills:
  • Ability to explain the underlying reasons for changes in economies/economic systems.
  • Ability to analyse the strengths and weaknesses of economic systems.
  • Ability to identify, interpret and use information for the study of economies and the world economy.
Key Skills:
  • Examples are provided to demonstrate how students will have the opportunity to develop the following key skills:
  • Written Communication - by completing formative and summative assignments.
  • Problem Solving - by applying the necessary analytical techniques in preparing assignments.
  • Initiative - by searching relevant literature and other information in preparation for the formative assignment and the examination.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lecture and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminars, and private study. Formative assessment is by means of an assignment. Summative assessment is by means of an examination.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 44 2 per week 1 hour 44
Seminars 8 1 per fortnight 1 hour 8
Preparation and reading 148 148
Total 200

Summative Assessment

Component: Assignment Component Weighting: 40%
Element Length / duration Element Weighting Resit Opportunity
One essay 1500 100% same
Component: Examination Component Weighting: 60%
Element Length / duration Element Weighting Resit Opportunity
Written examination 2 hours 100% Same

Formative Assessment:

A written assignment of 1,000 words.


Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University