ECONOMICS OF INTERNATIONAL TRADE AND REGULATION

SHE Level 3
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M3L125539
Module Leader Margaret-Anne Houston
School Glasgow School for Business and Society
Subject Economics
Trimesters
  • A (September start)
  • B (January start)

Summary of Content

This module will provide students with an analysis and evaluation of the origins, rationale application of economic theory and concepts for the legislative and economic policy framework within international trade. It will explore the producer/government/regulator relationship whilst developing an appreciation of the role of international governments and business with regard to regulatory frameworks taking into account such issues as trading blocs, the most favoured nation principle and competition policy. This enables students to be exposed to a critical analysis of the role and purpose of economic regulation within international trade including at European and International levels across a range of industries and jurisdictions. Through a series of industry specific case studies, students will be able to critically evaluate and discuss the role of various economic models of trade patterns, regulation and enforcement policies and practices within international trade. Summary of how PRME-related issues / topics are covered in this module: Students will be encouraged to identify, discuss and investigate contemporary international economic trading related regulatory topics which directly address issues which confront public and private sector organisations and how such dilemmas, for example, effective governance and appropriate regulatory frameworks, can be resolved.

Syllabus

The theories of international trade - economic, regulatory, political and policy framework within which international trade operates. Critical discussion of the role and purpose of main players within international trade. For example, MNEs; domestic and international government departments and agencies. Evaluation of causes and consequences of market failure and a discussion of key elements of 'good' regulation. Origins of and current development of international trade regulation - international, EU and domestic. E.g. antidumping regulations; intellectual property; international development; developing economies. Future directions of economic international trade regulation and policy.

Learning Outcomes

On successful completion of this module, the student should be able to:1.Critically evaluate the historical & economic development of international trade application of relevant economic theory and concepts.2. Understand and identify the philosophical, economic and political context of international trade regulatory frameworks. 3. Evaluate the producer/government/regulator relationship with respect to effective trade regulatory systems, compliance and enforcement issues.4. Synthesise economics trading and regulation issues with modern international trading practices and policies within the International marketplace.

Teaching / Learning Strategy

The module is delivered through a combination of lectures, student led seminars, blended learning and direct learning activities. Students are expected to have active participation in lectures (i.e. asking relevant questions) with full engagement and commitment to learning in all lectures and seminars. Lectures and seminars are underpinned by independent learning and directed study with supportive documentation and further sources being disseminated to students electronically via GCU Learn. The emphasis is on a multi-disciplinary analysis of international trade issues ensuring a depth of understanding of current practices and policies. Formative assessments will be conducted through GCU Learn including for example, discussion boards and submission of annotated bibliographies prior to starting the written assessment. Students will receive written feedback on individual essays with an opportunity to discuss their work prior to the final unseen examination. As university for the common good, equality and diversity principles are core GCU values. Equality, diversity and inclusivity is embedded in this module through the creation of learning, teaching and assessment strategies that promote equality of opportunity, eliminate discrimination and harness the benefits of functional and demographic diversity. Engaging students of different class, race and ethnic backgrounds, gender identity, sexual orientation and beliefs is ensured in this module in the following ways; b7 A curriculum that is accessible and meaningful to all by actively valuing diversity and encouraging students to draw on their own experiences in relation to the module content; b7 Conscious use of language and module content that is free from stereotyping, sexism, racism, homophobia, transphobia and discrimination based on systems of belief b7 Recognition and awareness of perceived power imbalances within the student cohort (e.g. gender, race, class and intersecting identities). This is dependent on identifying the characteristics of the student cohort before the module commences.

Indicative Reading

Books: Essential Text: Baldwin, R.; Cave, M. & Lodge, M. (2012) Understanding Regulation. 2nd Ed. Oxford University Press: UK Trebilcock, M. Howse, R. and Eliason, A. (2012) The Regulation of International Trade. 4th Ed. Routledge: UK. Supplementary: Acharyya, R.; Kar, S. (2014) International Trade and Economic Development, Oxford university Press, (Online resource) Johnson, D.; Turner, C. (2010) International Business: Themes and Issues in Global Economy. Permalink Lee, Y.S. ,Tomer Broude, Won-Mog Choi and Gary Horlick, 2011 Law and Development Perspective on International Trade Law (Cambridge: Cambridge University Press Nijsen, A.; Hudson, J.; Mfcller, C.; Paridon, K. van; Thurik, R. (Eds.) (2009) Business regulation and public policy: the costs and benefits of compliance. Springer: UK. (E-BOOK) Ogus, A.I. (2004) Regulation: legal form and economic theory. Hart Publishing: UK Parker, C. & Nielsen, VL. (Eds) (2011) Explaining Regulatory Compliance: Business Responses to Regulation. Edward Elgar Publishing Ltd: UK Prosser, T. (2010) The regulatory enterprise: government, regulation, and legitimacy. Oxford University Press: UK (E-BOOK) Rogers, K.M. (2011) The Internet and the Law. Palgrave MacMillan: UK Steiner, G. & Steiner, J. (2011) Business, Government and Society. 13th Ed. Irwin McGraw-Hill: UK. Thompson, G., & Harari, D. (2013). The Economic Impact of EU Membership on the UK. London: Commons Library Standard Note World Trade Report 2009 accessed: https://www.wto.org/english/res_e/booksp_e/anrep_e/wtr09-2b_e.pdf Word trade report 2014 accessed https://www.wto.org/english/res_e/publications_e/wtr14_e.htm Recommended Journals Harvard Business Review; Harvard Law Review; Journal of Business Research;; Journal of Consumer Policy; Journal of Financial Crime; Journal of Financial Regulation & Compliance; Law and Policy; New Law Journal; Journal of Economic Policy; Journal of International Trade & Economic Development; International Journal of Trade, Economics and Finance (IJTEF); Journal of International Economics; Journal of International Trade Law and Policy; Journal of World Trade; Journal of World Investment & Trade (JWIT); International Trade and Business Law Review; Journal of Economic Perspectives. Online sources: Various websites from international NGO's, international government agencies, industry bodies and regulatory bodies; WTO; World bank; IMF; EU.

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: Analytical and critical thinking skills Communication skills (oral and written) Discussion skills Essay writing Problem solving skills Interpersonal skills Time management skills

Module Structure

Activity Total Hours
Independent Learning (FT) 125.00
Lectures (FT) 24.00
Assessment (FT) 40.00
Tutorials (FT) 11.00

Assessment Methods

Component Duration Weighting Threshold Description
Exam 01 2.00 50.00 35% Individual unseen exam
Course Work 01 n/a 50.00 35% Individual Essay 2000 words