ECO3104 International Economics

There now seems to be little doubt that the degree of interdependence among nations has increased markedly over the last two decades or more. World trade has grown exceptionally fast in the post – war years, both absolutely and relative to nation incomes. The processes behind the internationalization process have been strong. Therefore, it generally acknowledged that the understanding of international economics relations is of great importance. A course in International Economics introduces the main economics concepts, principles and theories to explain the reasons, patterns and gains from trade for participating nations. Further it analyses the various policies interventions undertaken by different countries while attempted to benefit from international trade. 

Course Objectives
While designing the course content of International Economics the underlying objectives include the following based on training the learners appreciate: 

• Various theories developed to explain the pattern of trade among countries 
• Possible benefits of international trade to participating nations 
• Illustrate the linkages between international trade, economic and development 
• Different trade policies that are undertaken by countries to maximize returns from trade

Course Learning Outcomes
At the end of the course students should:

• Demonstrate a clear contrast between the classical and modern theories of international trade 
• Show the improvement of new models over the old models 
• Demonstrate how trade affects growth and development of a country 
• Explain how countries benefit from trade using various economics tools 
• Discuss the various trade polices undertaken by developing countries
• Critic the use of tariff and non – tariff to import and exports 
• Illustrate the evolution of the international trade arrangement from GATT to WTO