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Advanced Macroeconomics II: International Finance & Trade - ECO00028M

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  • Department: Economics and Related Studies
  • Module co-ordinator: Prof. Neil Rankin
  • Credit value: 10 credits
  • Credit level: M
  • Academic year of delivery: 2022-23
    • See module specification for other years: 2021-22

Module will run

Occurrence Teaching period
A Spring Term 2022-23

Module aims

The aims of this module are:

to address important policy questions relevant for open economies

to establish a sufficient level of knowledge to allow students to pursue their own research in the area of open economy macroeconomics.

Module learning outcomes

This module will be made up of two sections; international trade and international finance. The first part of the module will deal with the base of trade across developed countries (North-to-North trade) and between developed and developing countries (North-to-South trade) both from a theoretical and an empirical perspective. The second part will be devoted to the dynamics of international financial transactions. After successfully completing this module students will gain a better understanding of the determinants of the flow of goods across countries, the sources of exchange rate behaviour, underlying determinants of current account, the main features of the functioning of international financial markets, capital flows and portfolio diversification.


Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Advanced Macroeconomics II: International Finance & Trade
2 hours 100

Special assessment rules



Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Advanced Macroeconomics II: International Finance & Trade
2 hours 100

Module feedback

Students will receive feedback on their assessment in the form of a mark available within the University's Policy on Assessment Feedback and Turnaround Time (in this case 25 working days - Summer CAP examination). Cohort feedback will also be published on the Department website after the marks have been released.

Students will have the opportunity to view their examination scripts at supervised Feedback Sessions held in August.

Indicative reading

There is no single text which covers all the topics adequately. The following texts will be used most frequently throughout the module.

Feenstra, R., Advanced International Trade: Theory and Evidence, Princeton, NJ: Princeton University Press, 2003.

Obstfeld, M. and K. Rogoff. Foundations of International Macroeconomics, MIT Press, 1996.

Krugman, P., Obstfeld, M., and M. Melitz, International Economics. Theory and Policy, Pearson 9th Edition

Additional materials will be handed out in class.

The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.