English

Not applicable.

At the end of the curricular unit the students will be able to understand international trade theories, determinants of international trade, international flows of goods and capital and national income accounting and the balance of payments, real and nominal exchange rates and theory of exchange-rate determination, supply and demand for loanable funds and for foreign-currency exchange, equilibrium in the open economy, structure of the foreign exchange-market, optimum currency areas and the European experience and how policies and events affect an open economy.

Knowledge in macroeconomics and microeconomics.

Not applicable.

The course contains lectures that explain key topics of the discipline.

Students attending the lectures will be evaluated on the basis of an individual oral exam and a group assignment based on the relevant literature. The course is classified according to the ECTS: Final exam - 70% of final grade (the comprehensive oral exam covering the entire module), assignment - 30% of final grade.

International Trade Theories – Classical Country-Based Trade Theories and Modern Firm-Based Theories. International Investment Theories.
Determinants of International Trade: The Winners and Losers from Trade, the Effects of a Tariff and a Quota. Benefits of International Trade. Arguments for Restricting International Trade.
International Flows of Goods and Capital. National Income Accounting and the Balance of Payments.
Prices for International Transactions: Real and Nominal Exchange Rates. Theory of Exchange-Rate Determination based on Purchasing-Power Parity.
Supply and Demand for Loanable Funds and for Foreign-Currency Exchange.
Equilibrium in the Open Economy: Money, Interest Rates, and Exchange Rates.
Structure of the Foreign Exchange-Market.
Optimum Currency Areas and the European Experience
Formulation of National Trade Policies.
How Policies and Events Affect an Open Economy.
International Cooperation Among Nations – Theory of Economic Integration.

Not applicable.

The course focuses on the understanding main concepts linked to the trade and monetary issues of international economics. Applications are also discussed while using relevant case studies.

Control of results of independent work on assigned tasks. In case of excused absence from seminars, the teacher can set additional condition if appropriate, usually elaboration of partial written task.

Not applicable.

Not applicable.

Griffin, W. R., Pustay, M. W. (2015). International Business. Pearson. ISBN 978-1-292-01821-8. (EN)
Krugman, P. R., Obstfeld, M. International Economics. Berkeley: University of California, 2003. 754 s. ISBN 0-321-11639-9. (EN)
Mankiw, N. G. (2015). Principles of Macroeconomics. Cengage Learning, ISBN 978-1-285-16591-2. (EN)

Not applicable.