|TITLE||Economics of Small Island States|
|LEVEL||03 - Years 2, 3, 4 in Modular Undergraduate Course|
|DESCRIPTION||The study-unit will cover the following themes:
- Definition of small states and their role in the global arena;
- Characteristics of small states;
- Economic vulnerability and small states;
- Economic resilience and small states;
- The Vulnerability/Resilience Framework;
- Aspects of Microeconomics of relevance to small country size and insularity;
- Aspects of Macroeconomics of relevance to small country size and insularity;
- The United Nations and Small Island Developing States;
- The Commonwealth Secretariat and Small States;
- The World Bank's and the IMF's support for Small States.
The study-unit aims to explain the special economic characteristics of small states and to explain which aspects of economic theory are relevant to small states, including those that are also islands. The role of small states in the global arena will also be covered.
1. Knowledge & Understanding:
By the end of the study-unit the student will be able to comprehend how small states are defined, their special characteristics s, and which aspects of economic theory are relevant to small country size and insularity. Students will also be able to understand the role of small states in the global arena.
By the end of the study-unit the student will have improved their communication skills and their ability to work in teams. The unit will also enable the students to develop other skills associated with sourcing and inferring tendencies from quantitative and qualitative economic data, critically evaluating economic realities of small states, and interpreting the stages of development of small states, including Malta. Students will find such skills useful for their career improvement and for life in general.
Main Text/s and any supplementary readings:
- Briguglio, L., Cordina, C., Vella, S., Vigilance, C. (2010). Profiling Vulnerability and Resilience: A Manual for Small States. Commonwealth Secretariat, London.
- Lino Briguglio, Gordon Cordina, Nadia Farrugia, Stephanie Vella (2009). Economic Vulnerability and Resilience: Concepts and Measurements. Oxford Development Studies.
- Briguglio, L. , Persaud, B. and Stern, R. (2006). Toward an Outward-Oriented Development Strategy for Small States: Issues, Opportunities, and Resilience Building, World Bank and the Commonwealth Secretariat.
- Commonwealth Secretariat (annually). Small States: Economic Review and Basic Statistics. Commonwealth Secretariat.
- Kisanga, E.J. and Danchie, S.J. (2007). Commonwealth Small States: Issues and Prospects. Commonwealth Secretariat.
|ADDITIONAL NOTES||Pre-Requisite Study-units: ECN1011 and ECN1021|
|STUDY-UNIT TYPE||Lecture and Independent Study|
|METHOD OF ASSESSMENT||
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Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the study-unit description above applies to the academic year 2017/8, if study-unit is available during this academic year, and may be subject to change in subsequent years.