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ECO445Social Sciences2 Unitsintermediate

Intertional Trade and Finance

This course introduces students to the fundamental concepts of international trade and finance. It explores the distinctions between internal and international trade, examining traditional and modern theories. Topics include trade benefits, dumping, trade controls, balance of payments, and exchange rate mechanisms. The course aims to equip students with critical thinking skills to evaluate international economic policies and debates.

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208h
Study Time
13
Weeks
16h
Per Week
basic
Math Level
Course Keywords
International TradeFinanceComparative AdvantageBalance of PaymentsTrade Policies

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
➕
Math Level
Basic Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

International Trade

2

Internal Trade

3

Comparative Advantage

4

Absolute Advantage

5

Balance of Trade

6

Balance of Payment

7

Dumping

8

Trade Controls

9

Mercantilism

10

Factor Price Equalization

11

Heckscher-Ohlin Theory

Total Topics11 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Trade Analyst

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

International Economist

Apply your skills in this growing field

Policy Advisor

Apply your skills in this growing field

Business Development Manager

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

International TradeFinanceEconomicsGovernmentConsulting

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Introduction to International Trade

6h

Unit 1: Meaning of International Trade

3 study hours
  • •Define international trade and its characteristics.
  • •Differentiate between foreign and domestic trade.
  • •Analyze trade patterns and practices.

Unit 2: Difference Between Internal and International Trade

3 study hours
  • •Compare and contrast internal and international trade.
  • •Discuss the role of factor mobility.
  • •Analyze the impact of different national policies.
Week
2

Module 1: Introduction to International Trade

4h

Unit 3: Basic Tools of International Trade Analysis

4 study hours
  • •Apply graphical tools to explain international trade concepts.
  • •Use equations to estimate exchange rates.
  • •Interpret tabular illustrations of gains from trade.
Week
3

Module 2: Major Concept of International Trade

3h

Unit 1: Basic concepts of International Trade

3 study hours
  • •Define export, import, and entre-port.
  • •Explain the relationship between export and import.
  • •Discuss the importance of import and export to an economy.
Week
4

Module 2: Major Concept of International Trade

4h

Unit 2: Methods of Payments

4 study hours
  • •Understand different methods of payment in international trade.
  • •Analyze bank charges and other costs.
  • •Explain bank transfers and remittances.
Week
5

Module 2: Major Concept of International Trade

4h

Unit 3: Balance of Trade and Balance of Payment

4 study hours
  • •Explain the concepts of balance of trade and balance of payment.
  • •Identify the components of balance of payment.
  • •Differentiate between balance of trade and balance of payment.
Week
6

Module 3: International Trade Benefits and Dumping

4h

Unit 1: Benefit and Gains from Trade

4 study hours
  • •Identify the benefits of international trade for developing nations.
  • •Analyze the gains from trade.
  • •Understand the actual and potential gains from international trade.
Week
7

Module 3: International Trade Benefits and Dumping

4h

Unit 2: Concepts of Dumping

4 study hours
  • •Define dumping in international trade.
  • •Explain the types of dumping.
  • •Understand the basic objectives of dumping.
Week
8

Module 3: International Trade Benefits and Dumping

4h

Unit 3: Trade Controls

4 study hours
  • •Understand the concept of tariff and its implications.
  • •Distinguish between various types of non-tariff barriers.
  • •Analyze the differences between tariff and non-tariff controls.
Week
9

Module 4: Early Theories of International Trade

4h

Unit 1: Mercantilism

4 study hours
  • •Understand the meaning of mercantilism.
  • •Explain the arguments that operate during the mercantilism period.
  • •Understand the principles underlying the mercantilism theory.
Week
10

Module 4: Early Theories of International Trade

4h

Unit 2: Comparative Advantage Trade Theory

4 study hours
  • •Understand the meaning and assumptions underlying the comparative advantage trade theory.
  • •Explain the benefits from trade under this theory.
  • •Analyze the criticisms of the comparative advantage theory.
Week
11

Module 4: Early Theories of International Trade

4h

Unit 3: Absolute Cost Advantage Trade Theory

4 study hours
  • •Understand the meaning of absolute cost advantage trade theory.
  • •Know the assumptions of absolute cost advantage theory.
  • •Explain the illustration of the theory.
Week
12

Module 5: Modern Theory of International Trade

4h

Unit 1: The Heckscher-Ohlin Theory

4 study hours
  • •Understand the meaning of the Heckscher-Ohlin theory.
  • •Explain the underlying assumptions of the theory.
  • •Understand the explanation of the theory.
Week
13

Module 5: Modern Theory of International Trade

8h

Unit 2: Samuelson's Factor Price Equalization Theorem

4 study hours
  • •Understand the meaning of factor price equalization.
  • •Know the assumptions given for the working of the theorem.
  • •Understand the explanation of the factor price equalization theorem.

Unit 3: Factor Intensity Reversal

4 study hours
  • •Explain the meaning of factor intensity reversals.
  • •Distinguish between single factor and multiple factor intensity reversals.
  • •Understand the effect of change in commodity prices on real factors rewards.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all key definitions and concepts from each unit.

2

Practice applying trade theories to real-world scenarios.

3

Create summaries of each module's main points.

4

Focus on understanding the differences between trade theories.

5

Practice solving numerical problems related to trade and finance.

6

Review past assignments and tutor feedback.

7

Allocate study time evenly across all modules.

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