Program Overview

International Trade (SESS0063)

Key Information

The International Trade module is offered by the Faculty of Arts and Humanities, specifically through the School of Slavonic and East European Studies. It carries a credit value of 15.

• Faculty: Faculty of Arts and Humanities
• Teaching department: School of Slavonic and East European Studies
• Credit value: 15
• Restrictions: This course is open to Year 2 and Year 3/4 students only. In order to register for this module, students must have the following prerequisites completed previously: SESS0007 Introduction to Microeconomics or its equivalent (ECON0002 or BCPM0058).

Alternative Credit Options

There are no alternative credit options available for this module.

Description

This module introduces students to the basic theories and analytical frameworks of international trade, applying these to current global economic events. The course will cover the basic trade models and will also visit the forefront of theoretical and empirical research by explaining the gravity model, increasing returns, product differentiation, scale economies, and the role of firms in international trade. Students will also examine various aspects of trade policy. The course emphasizes developing a strong understanding of economic concepts and the ability to apply them to real-world scenarios. While mathematical analysis is not a primary focus, some graphical representations will be used.

Teaching Delivery

This module is taught through a combination of lectures, tutorials/workshops, and a final demonstration class. There are two contact hours per week: one lecture and one tutorial/workshop.

Indicative Topics

1. Introduction, gravity model, overview of world trade patterns
2. Ricardian model, Part 1: Comparative advantage, labor productivity, supply and demand
3. Ricardian model, Part 2: Trade in a one-factor world, productivity and wages
4. Specific factors model: International trade in the specific factors model
5. Heckscher-Ohlin model: Model of a two-factor economy, effects of international trade
6. The standard trade model: Trade in the standard trade model, tariffs and export subsidies
7. Economies of scale: Economies of scale and trade, external economies and trade
8. Firms in the global economy, Part 1: Monopolistic competition and trade, firm responses to trade, multinationals
9. Firms in the global economy, Part 2: Firm responses to trade, dumping, multinationals
10. Instruments of trade policy: Effects of tariffs and other non-tariff trade policy instruments

Module Aims

This module aims to provide students with a solid foundation in international trade theory and its application to contemporary issues. Students will develop skills to understand the complexities of global trade patterns, the role of firms, and the impact of trade policies. The course encourages critical thinking about the benefits and challenges of international trade in the modern world.

Module Deliveries for 2026/27 Academic Year

• Intended teaching term: Term 2
• Undergraduate (FHEQ Level 6)

Teaching and Assessment

• Mode of study: In person
• Methods of assessment: 100% Exam
• Mark scheme: Numeric Marks

Other Information

• Number of students on module in previous year: 56
• Module leader: Dr Idil Uz Akdogan

Last Updated

This module description was last updated on 10th March 2026.