ECC5690

Theories in international and development economics

Dr Robert Rice, Dr Christis Tombazos and Dr Xiaokai Yang

6 points · Two 1.5-hour lectures per week · Second semester · Clayton · Prerequisite: ECC4690 or ECC4670

Objectives On completion of this subject students will have gained an understanding of advanced theories in the areas of international and development economics; be able to identify the linkages between the two major areas of open economy analysis; be able to formulate policies on the basis of sound theoretical foundations and, correspondingly, to evaluate policy proposals; have acquired the skills necessary to assess critically new theoretical developments in this area.

Synopsis Evaluation of the neoclassical trade model and its extensions; foreign direct investment, capital flows and technology transfer; alternative explanations of comparative advantage including increasing returns and imperfect competition; geography and trade; new growth models; micro- and macroeconomic reform, structural change and factor mobility; institutions, transaction costs and rent seeking; theories of the state; the political economy of liberalisation and stabilisation.

Assessment Written (5000-word research paper): 50% · Examination (3 hours): 50%

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