Joint-honours information for 2017 entry

Understanding Global Markets

Module L1077

Module details for 2017/18.

15 credits

FHEQ Level 6

Module Outline

The aim of this module is to give students an understanding of key features of the newly emerging globalised world economy. The module therefore comprises four components. The first of these analyses the conceptual background to understanding global markets, as well as examining the underlying changes in technology which have transformed economic relations between regions and nation states. The subsequent components then use that background in order to focus on the key characteristics and changes in: trade in goods and services, capital flow, and movement of people.

A. The context
1. The emergence / development of global markets + understanding what can be meant by globalisation.
2. The impact of technological change on global markets (information technology, transport costs...).

B. Goods and Services
3. Why do countries trade + why do countries integrate into regional blocs?
4. The evolution of patterns of trade:
- Trade volumes
- Geographical patterns of trade (North-North, North-South, South-South, regional groupings etc).
- Vertical spcialisation and value chains, outsourcing, offshoring, supply chaining.
5. The role of services in the global economy ad the evolution of services trade.

C. International Capital flows: multinationals and foreign direct investment - theory and data.
6. Short run capital flows: global capital markets and origins of financial and exchange rate crises.

D. Labour Migration
7. Why workers migrate: individual and family motives.
8. The impact of migration on the home market and on the host market.

Module learning outcomes

Have demonstrated a systematic understanding of those principles at the forefront of economics as they relate to economic problems and issues

Have demonstrated a systematic understanding of an appropriate number of specialised fields of economics (e.g. labour economics, development economics)

Be able to use the power of abstraction to focus upon the essential features of an economic problem and to provide a systematic framework for the coherent and critical evaluation of the effects of policy or other exogenous events.

Have learned to understand the importance of, and be able to construct, rigorous argument to help evaluate ideas, including those at the forefront of research.

Coursework components. Weighted as shown below.
EssayT1 Week 11 100.00%
Unseen ExaminationSemester 1 Assessment80.00%

Submission deadlines may vary for different types of assignment/groups of students.


Coursework components (if listed) total 100% of the overall coursework weighting value.

TermMethodDurationWeek pattern
Autumn SemesterLecture2 hours11111111111
Autumn SemesterSeminar1 hour11111111111

How to read the week pattern

The numbers indicate the weeks of the term and how many events take place each week.

Dr Peter Holmes

Assess convenor

Please note that the University will use all reasonable endeavours to deliver courses and modules in accordance with the descriptions set out here. However, the University keeps its courses and modules under review with the aim of enhancing quality. Some changes may therefore be made to the form or content of courses or modules shown as part of the normal process of curriculum management.

The University reserves the right to make changes to the contents or methods of delivery of, or to discontinue, merge or combine modules, if such action is reasonably considered necessary by the University. If there are not sufficient student numbers to make a module viable, the University reserves the right to cancel such a module. If the University withdraws or discontinues a module, it will use its reasonable endeavours to provide a suitable alternative module.