Leader: Professor Ranjan Ray

Offered

Clayton Second semester 2008 (Day)

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.

Objectives

The learning goals associated with this unit are to:

• gain an understanding of advanced theories in the areas of international and development economics
• identify the linkages between the two major areas of open economy analysis
• formulate policies on the basis of sound theoretical foundations and, correspondingly, to evaluate policy proposals
• acquire the skills necessary to assess critically new theoretical developments in this area.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Prerequisites

ECC4690 or ECC4670