MG4B9 Half Unit
The World Trading System
This information is for the 2021/22 session.
Dr Veronica Rappoport NAB 5.29
This course is available on the CEMS Exchange, Global MSc in Management, Global MSc in Management (CEMS MiM), Global MSc in Management (MBA Exchange), MBA Exchange, MSc in Economics and Management, MSc in Management and Strategy and MSc in Risk and Finance. This course is available with permission as an outside option to students on other programmes where regulations permit.
Basic Knowledge of Mathematics and Economics
The course studies a key component of the "globalization" process: the negotiation, implementation and implications of international trade agreements (ITAs). These include the World Trade Organisation and the fast-growing web of regional trade agreements. We analyse the challenges and opportunities faced by companies engaged in the global economy in this context. The course relies on recent theoretical and empirical research to gain insight into the motivations for ITAs and their consequences for consumers and firms. Globalisation - trends in the international economy and overview of their causes and effects. The sources of international trade. Trade barriers - restrictions to international trade and their consequences. The economics and politics of international trade agreements. The rules, accomplishments and shortcomings of the GATT/WTO system. Regional trade agreements - motivation, implications, and recent trends. The costs and benefits from exporting for individual firms. Challenges and opportunities for national and multinational firms in the global economy.
10 hours of lectures and 10 hours of seminars in the MT.
Students on this course will have a reading week in Week 6, in line with departmental policy.
- Robert Feenstra and Alan Taylor, International Economics, Worth Publishers, 2008.
- Kyle Bagwell and Robert W. Staiger, "The Economics of the World Trading System," MIT Press, 2004.
- The World Trade Organisation, "The WTO and preferential trade agreements: From co-existence to coherence," World Trade Report, 2011.
- Bernard M. Hoekman, Aaditya Mattoo, Philip English (editors), "Development, Trade, and the WTO: A Handbook," World Bank, 2002.
- Andrew Bernard, J. Bradford Jensen, Stephen Redding and Peter Schott, Firms in International Trade, Journal of Economic Perspectives 21(3), 105-130, 2007.
Class participation (10%), group assignment (40%) and in-class assessment (50%) in the MT.
The assessment consists of Group assignments (40%), class participation (10%) and an in-class exam during the last week of the term (50%).
Course selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Important information in response to COVID-19
Please note that during 2021/22 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.
Total students 2020/21: 31
Average class size 2020/21: 15
Controlled access 2020/21: Yes
Value: Half Unit