Understanding Global Markets (L1077)
15 credits, Level 6
The aim of this module is to give you 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 has 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, goods and services, capital flow, and movement of people.
The module structure is as follows:
- The context
- The emergence/development of global markets and understanding what can be meant by globalisation.
- The impact of technological change on global markets (information technology, transport costs, etc).
- Goods and services
- Why do countries trade and why do countries integrate into regional blocs?
- 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
- Short run capital flows: global capital markets and origins of financial and exchange rate crises.
- Why workers migrate: individual and family motives.
- The impact of migration on the home market and on the host market.
20%: Coursework (Essay)
80%: Examination (Unseen examination)
Contact hours and workload
This module is approximately 150 hours of work. This breaks down into about 32 hours of contact time and about 118 hours of independent study. The University may make minor variations to the contact hours for operational reasons, including timetabling requirements.
This module is running in the academic year 2020/21. We also plan to offer it in future academic years. It may become unavailable due to staff availability, student demand or updates to our curriculum. We’ll make sure to let our applicants know of such changes to modules at the earliest opportunity.
This module is offered on the following courses:
- Economics (with a professional placement year) BA
- Economics (with a professional placement year) BSc
- Economics BA
- Economics BSc
- Economics and Finance BSc
- Economics and International Development BA
- Economics and International Relations BA
- Economics and Management Studies BSc
- Economics and Politics BA
- Mathematics with Economics BSc
- Mathematics with Economics MMath
- Philosophy, Politics and Economics (PPE) BA
- Psychology with Economics BSc