IRS 301: International Economic Relations

Learning Outcomes

At the end of the course, the students should be able to:

1. explain the liberal, nationalists and Marxist theories of international economic relations;
2. discuss the regulatory role of the World Trade Organization (WTO) in the conduct of trade between nations;
3. highlight the advantages of International trade;
4. analyse the role of the Bretton Woods Institutions in terms of assisting depressed nations to achieve economic recovery;
5. identify the impact of the General Agreement on Tariffs and Trade (GATT) on fostering liberal trade; and
6. explain the hegemony of the American dollar in international economic relations.

Course Contents

The economic basis of some of the actions and reactions in international politics, international trade. Commercial policy. Capital movement and many others. Role of IMF. World Bank and other monetary agencies. Multi-national enterprises. Customs unions, and currency areas. The liberal, nationalist and Marxist theories of international economic relations. The regulatory role of the World Trade Organization (WTO) in the conduct of trade between nations. Advantages of international trade. Analysis of the impact of the General Agreement on Tariffs and Trade on World Trade, the hegemony of the American dollars in international economic transactions.