| Learning objectives |
To achieve the grade 12, students should meet the
following learning objectives with no or only minor mistakes or
errors:
- Explain basic concepts in International Economics (e.g.
"comparative advantage", “factor intensity”, “interest
rate parity”, BoPs, PPP, UIP, etc.)
- Understand the basic assumptions and their justification behind
the main trade models and their main predictions. These models
include, but are not limited to, the Ricardian model, the
Hechscher-Ohlin model ,- and the imperfect competition model
- Perform simple policy simulations of major trade policy tools
(e.g. the impact of introducing tariffs), and illustrate them
diagrammatically
- Understand what determines exchange rate in both short and long
run
- Understand the dynamics of macroeconomic policies (both fiscal
and monetary) when the exchange rate is in play, and perform simple
policy simulations of these dynamics(like what happens when money
supply changes)
- Understand different exchange rate regimes, and describe the
evolution of the international monetary systems including the
Economic and Monetary Union of the EU.
|
| Examination |
|
International
Economics:
|
| Exam
ECTS |
7,5 |
| Examination form |
Written sit-in exam on CBS'
computers |
| Individual or group exam |
Individual exam |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-step scale |
| Examiner(s) |
One internal examiner |
| Exam period |
Winter |
| Aids |
Closed book: no aids
However, at all
written sit-in exams the student has access to the basic IT
application package (Microsoft Office (minus Excel), digital pen
and paper, 7-zip file manager, Adobe Acrobat, Texlive, VLC player,
Windows Media Player), and the student is allowed to bring simple
writing and drawing utensils (non-digital). PLEASE NOTE: Students
are not allowed to communicate with others during the
exam. |
| Make-up exam/re-exam |
Same examination form as the ordinary exam
If the number of registered candidates for the make-up
examination/re-take examination warrants that it may most
appropriately be held as an oral examination, the programme office
will inform the students that the make-up examination/re-take
examination will be held as an oral examination instead.
It is at the discretion of the Study
Board to change the exam form from a 4-hour written sit-in exam to
a 20 min oral exam with no
preparation.
|
|
| Course content and structure |
|
This course offers detailed introduction to international
economics, and it includes two parts: international trade and
international finance. In the first part, we study the classic
trade theories, which explains why international trade took place,
what are the benefits of international trade, and in what patterns
countries trade with each other. We also study basic trade policy
tools and their implications. In the second part, we study the
balance of payments, the basics of exchange rates and how they are
determined, how fiscal and monetary policies will be different when
exchange rates come into play. We also study exchange rate regimes
and the history of international monetary systems.
|
| Teaching methods |
| Lectures, exercises and discussions. |
| Feedback during the teaching period |
| We try to offer feedback in response to your
questions and work whenever feasible although please appreciate
that there are often time constraints. Please feel free to take
full advantage of the ‘office hours’ offered by full-time staff
members, although these can never be a substitute for participation
in lectures and classes. We also encourage you to ask questions or
make comments in class and form self-study groups to secure peer
feedback on your work. |
| Student workload |
| Preparation time (readings, group work etc.) |
144 hours |
| Lectures / class exercises / “homework cafés” / workshops
etc. |
48 hours |
| Exam (incl. preparation for the exam and actual exam
period) |
14 hours |
|
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