Module Information

Module Identifier
Module Title
Trade and International Monetary Systems
Academic Year
Semester 2
Reading List
Other Staff

Course Delivery



Assessment Type Assessment length / details Proportion
Semester Assessment Essay  (2000 words)  30%
Semester Exam 3 Hours   Exam  70%
Supplementary Assessment Essay  (2000 words)  20%
Supplementary Exam 3 Hours   80%

Learning Outcomes

On successful completion of this module students should be able to:

1. Demonstrate an understanding of the trade policy instruments

2. Demonstrate familiarity with the debates on the advantages of free trade

3. Demonstrate a detailed understanding of the nature of the international and European monetary systems, their institutions and their policies

4. Critically analyse problems associated with both the international and European monetary systems, and explain the causes of their failure

5. Apply simple and practical macroeconomic models to policy coordination problems between countries.

6. Evaluate the pros and cons of joining a monetary union using simple macroeconomic models built within a logical framework.

Brief description

This module investigates the related topics of international trade and the international and European monetary systems, and discusses their recent developments and problems. It provides students with an advanced understanding of the monetary and trade interdependence of countries and trading blocs in their historical and institutional framework.


Part l. International and European Monetary System

Operation of the Gold standard system
The Bretton-Woods system
Fixed versus flexible exchange rates
International macroeconomic coordination
Theory of Optimum Currency Areas
Costs and Benefits of a Common Currency
European Monetary Union (EMU)

Part II. International Trade

World Trade
Trade Policy instruments
Gains from trade

Module Skills

Skills Type Skills details
Application of Number Numerical problems will be treated in tutorial exercises, appropriate assignments, and examination questions.
Communication Participation in discussion-based seminars will enhance the verbal communication skills of the participants.Written communication proficiency will also improve as a result of the compulsory coursework component of the module.
Improving own Learning and Performance Students will improve their learning by undertaking directed but independent study and work.Time management will be crucial in preparation for the assessments.
Information Technology Accessing course information and documents from Blackboard and internet for referencing material, and use of word-processing skills for the assignment.
Personal Development and Career planning The module helps students to develop various personal and interpersonal skills, generally transferable in career terms.
Problem solving Problem solving skills are developed in lectures and applied in tutorials and coursework. The module will enhance students' ability to think critically on macroeconomic issues and helps to apply various research methods and approaches to problem solving from a policy perspective.
Research skills Students are expected to obtain, select, and assimilate information from a variety of sources.This will introduce them to a range of research methods,which will facilitate development of appropriate research skills necessary to produce high quality analytical reports.
Subject Specific Skills Assignments and exams will require students to develop an understanding of international trade, exchange rates,monetary systems and monetary policies.
Team work Participation in seminars through individual and group discussions will improve team-workings kills of all the participants.


This module is at CQFW Level 6