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Advanced Macroeconomics II: International Finance & Trade - ECO00028M

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  • Department: Economics and Related Studies
  • Credit value: 10 credits
  • Credit level: M
  • Academic year of delivery: 2022-23

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.

Indicative assessment

Task % of module mark
Closed/in-person Exam (Centrally scheduled) 100

Special assessment rules

None

Indicative reassessment

Task % of module mark
Closed/in-person Exam (Centrally scheduled) 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 constantly explores 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. In some instances it may be appropriate for the University to notify and consult with affected students about module changes in accordance with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.