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Durham University

Faculty Handbook 2022-2023

Module Description

Please ensure you check the module availability box for each module outline, as not all modules will run each academic year.

Department: Economics and Finance


Type Open Level 3 Credits 20 Availability Available in 2022/23 Module Cap Location Durham


  • Macroeconomics (ECON2011) AND Microeconomics (ECON2021) OR Economic Theory (ECON****)


  • None.

Excluded Combination of Modules

  • None.


  • To provide, by building on the skills and knowledge from level 2, an understanding of traditional and modern theories of international trade and international finance. In addition, it seeks to provide students with the skills necessary to appreciate and discuss policy issues.


  • Topics in international trade and international finance such as the following;
  • Ricardian Trade Theory
  • Heckscher-Ohlin Trade Theory
  • Gravity Models
  • Models of exchange rate determination
  • Currency Crises
  • Intertemporal approach to the current account
  • Globalisation
  • International Labour Migration

Learning Outcomes

Subject-specific Knowledge:
  • At the end of the module students should:
  • Understand knowledge of how well theories can explain actual trade and understand finance flows.
  • Understand positive and normative theories of international trade and international finance.
  • Enrich students’ engagement with a more equitable and sustainable world by addressing topics such as the sustainability of the current account.
Subject-specific Skills:
  • Be able to solve models of international trade and international finance.
  • Be able to apply international trade and finance theories to practical problems.
Key Skills:
  • Written Communication - through summative assessment.
  • Group work and presentation skills - though group presentation at seminars.
  • Planning, Organisation and Time Management - preparing for examinations.
  • Problem Solving and Analysis - e.g. by applying the necessary analytical and quantitative skills, as well as the ability to manipulate concepts in international trade and finance, in undertaking assessed work.
  • Numeracy - e.g. by applying core mathematical and statistical skills to answer a range of examination questions.

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

  • Teaching is by lectures and tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of group presentations at seminars and one piece of written work of not more than 1500 words. Summative assessment is by means of a written examination and a written assignment.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 10 Fortnightly 2 hours 20
Revision Lecture 2 Weekly 1 hour 2
Tutorials 8 Fortnightly 1 hour 8
Preparation and Reading 170
Total 200

Summative Assessment

Component: Assignment Component Weighting: 25%
Element Length / duration Element Weighting Resit Opportunity
One written assignment 1500 words max 100% Same
Component: Examination Component Weighting: 75%
Element Length / duration Element Weighting Resit Opportunity
One written examination 2 hours 100% Same

Formative Assessment:

Via group presentation during seminars (work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on DUO) and one piece of written work of not more than 1500 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

If you have a query about a specific module or degree programme, please contact the appropriate department.

If you have a question about Durham's modular degree programmes, please visit our FAQ webpage. If you have a question about modular programmes that is not covered by the FAQ, or a query about the on-line Faculty Handbook, please contact us using the Comments and Questions form below.