ECN434 International Trade and Globalisation

• Topics

  This course focuses on international trade, globalisation and economic integration both in terms of long-term trends and in terms of current policy issues. In doing so, it relates to a number of highly relevant policy questions, such as:

  • How will the present geopolitical situation, with war in Europe, conflicts between the West and Russia, political and economic tensions between the US and China, etc., affect international trade and globalisation? Will there be a shift towards deglobalisation and more national and regional focus? What will the impact be on the strong reliance on global value chains in many industries?
  • What may the effects of the current energy crisis be for trade and integration in Europe?
  • What are the possible longer-term consequences of COVID-19 for international trade and globalisation?
  • Is globalisation compatible with the UN Sustainable Development Goals?
  • What are the links between globalisation and climate change? And to what extent can trade policies be used to help achieve climate policy goals?
  • What is the role of digitalisation and new technology, such as robotics and artificial intelligence, in the growth of global value chains, and how does this affect the nature of international trade relations?
  • How important are trade agreements in shaping international trade and integration? What is the role of WTO? What about EU and other regional trade and integration agreements? How will Brexit affect the UK’s position in international trade?
  • What are the causes and the economic implications of international migration?

  These are examples of questions that will be discussed and analysed in this course. Using tools and insights from theoretical and empirical studies will enable you to assess possible responses to such questions. The tools applied include models of international trade in goods and services, foreign direct investments and multinationals, location of firms and production, migration, trade policies, political economy processes and international institutions. The course gives you a solid understanding of long-term trends and driving forces behind global and regional integration, as well as the political economy surrounding such processes. It enables you to discuss and analyse the impact of such trends for firms, markets or industries, and for governments and policy makers.

• Learning outcome

  The aim of this course is to provide you with insights and tools that help you understand and be able to analyse the impact of international trade and globalisation processes. Such processes are of great importance for any internationally oriented firm or organisation, as well as for countries and governments. A good knowledge of how globalisation and economic integration work and what the impact on firms, markets and individuals may be is thus essential. Furthermore, the ability to understand and assess implications of current political issues and debates regarding trade and globalisation is becoming increasingly important.

  More specifically, the following learning outcomes apply:

  Knowledge

  Upon completion of the course, you will

  • have solid knowledge about international trade, globalisation and economic integration in the world,
  • have solid knowledge about theoretical and empirical analyses related to international trade, globalisation and economic integration.

  Skills

  Upon completion of the course, you will

  • be able to analyse the impact of globalisation and integration for specific firms, markets or industries, as well as for governments and policy makers,
  • have insights and tools that enable you to understand and assess the impact of current and future trade policy questions.

  General competences

  Upon completion of the course, you will

  • understand the economic and political forces influencing international trade, globalisation and integration processes,
  • be able to communicate about globalisation and trade policy issues with both specialist and non-specialists in an international setting.
  • have a good understanding of how the UN Sustainable Development Goals affect and interact with international trade, globalisation and integration processes.

• Teaching

  Lectures, class discussions, group work and student presentations.

• Recommended prerequisites

  Basic micro and macro economics.

• Credit reduction due to overlap

  The course overlaps and cannot be combined with INB427

• Compulsory Activity

  Students are expected to attend the lectures and contribute actively in class.

  All students are required to take part in:

  • Group work including presentation in class,
  • Class discussions on various topics,
  • Attending and commenting on other groups’ presentations.

• Assessment

  The assessment will be based (100%) on an individual 5-days home exam. The exam starts on Monday at 09.00 and ends on Friday at 14.00.

  The home exam must be written in Norwegian or English.

• Grading Scale

  Grading scale A - F.

• Computer tools

  Canvas

• Literature

  • Richard Baldwin: The Great Convergence. Information Technology and the New Globalization. The Belknap Press of Harvard University Press, 2016.
  • Reports and Articles.

  The complete reading list will be announced at course start.