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Learning Objectives
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After the course students should be able to:
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Explain basic terminology from International Economics (e.g. "comparative advantage", “factor abundance", “factor intensity” etc.) in a comprehensive and intuitive way.
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Describe and rationalize the main assumptions behind trade models such as Ricardian model, Hechscher-Ohlin model, and imperfect competition model.
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Perform policy experiments (e.g. the impact of introducing tariffs).
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Illustrate diagrammatically these models and perform analysis of the pattern of trade, gains of trade and effect on the income distribution from trade.
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Solve algebraically simple trade models (e.g. imperfect competition models.) in order to determine the equilibrium economic variables (e.g. price, average costs, quantity, profit, etc.).
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Describe and rationalize the main assumptions behind the main models of Open-Economy Macroeconomics.
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International Economics:
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Assessment
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Written Exam
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Marking Scale
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7-step scale
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Censorship
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Internal examiners
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Exam Period
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October and December/January, The exam is in October. The make-up/re-exam is in January.
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Aids
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Please, see the detailed regulations below
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Duration
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4 Hours
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Examination
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Individual written 4-hour open book exam, graded by teacher and internal censor on the 7-point scale. Only non-programmable calculators are allowed.
Make-up and re-exam: The regulations are the same as for the ordinary exam.
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Course Content
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This course offers introduction to international economics.
In the first part of the course, we study International trade theories that focus on the behavior of the “real” economic variables; In the second part of the course, we study international finance-theories with addition of “monetary” variables. We also develop a theoretical framework that allows us to understand the interaction between “monetary” and “real” variables.
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Teaching Methods
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Lectures.
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