Course detail

International Economics

FP-FieKAcad. year: 2021/2022

This course aims to provide an up-to-date and understandable analytical unified framework for understanding traditional insights as well as the newest findings and approaches in international economics. In analysing both the real and monetary sides of the subject, the approach will help the student to gain and retain the underlying logic of international economics.

Language of instruction

English

Number of ECTS credits

5

Mode of study

Not applicable.

Guarantor

prof. Ing. Marek Zinecker, Ph.D.

Department

Institute of Economics (ÚE)

Learning outcomes of the course unit

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.

Prerequisites

Not applicable.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

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

Assesment methods and criteria linked to learning outcomes

Students attending the lectures will be evaluated on the basis of a written exam (70% of final grade) and a team assignment (30% of final grade).

Course curriculum

This course aims to provide an up-to-date and understandable analytical unified framework for understanding traditional insights as well as the newest findings and approaches in international economics. In analysing both the real and monetary sides of the subject, the approach will help the student to gain and retain the underlying logic of international economics.

The topics covered are as follows:
1. International Trade Theories – Classical Country-Based Trade Theories
2. The Heckscher-Ohlin Model.
3. The Standard Trade Model.
4. External Economies of Scale and the International Location of Production.
5. Trade Policy I: Tariffs and Import Quotas.
6. Trade Policy II: Export Subsidies and Other Instruments of Trade Policy.
7. The political Economy of Trade Policy - Sothisticated Arguments for Restricting International Trade.
8. International Movement of Labour and Capital.
9. Prices for International Transactions: Real and Nominal Exchange Rates. Theory of Exchange-Rate Determination based on Purchasing-Power Parity.
10. Optimum Currency Areas and the European Experience
11. Equilibrium in the Open Economy: Money, Interest Rates, and Exchange Rates.
12. Fiscal and Monetary Policy in a Small Open Economy.
13. International Negotiations and Trade Policy.

Work placements

Not applicable.

Aims

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.

Specification of controlled education, way of implementation and compensation for absences

Attendance is not mandatory.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

KRUGMAN, P. R., OBSTFELD, M. International Economics. Theory and Policy. Pearson. 2015. ISBN 978-1-292-01955-7.
MANKIW, N. G. Principles of Macroeconomics. Cengage Learning, 2015. ISBN 978-1-285-16591-2.
TEMIN, P. 2016. The American Dual Economy. International Journal of Political Economy, Routledge, 45(2), pp. 85-123. DOI: 10.1080/08911916.2016.1185311. TEMIN, P. 2016. The American Dual Economy. International Journal of Political Economy, Routledge, 45(2), pp. 85-123. DOI: 10.1080/08911916.2016.1185311.

Recommended reading

FEENSTRA, R., TAYLOR, A. International Economics. Macmillan, 2017. ISBN 978-13-1912-764-0.
GRIFFIN, W. R., PUSTAY, M. W. International Business. Pearson, 2015. ISBN 978-1-292-01821-8.
NÖLKE, A., VLIEGENTHART, A. 2009. Enlarging the Varieties of Capitalism. The Emergence of Dependent Market Economies in East Central Europe, Routledge, 61(4), pp. 670-702. DOI: 10.1017/S0043887109990098.

Classification of course in study plans

  • Programme MGR-UFRP-KS Master's 1 year of study, summer semester, compulsory-optional

Type of course unit

 

Guided consultation in combined form of studies

12 hod., optionally

Teacher / Lecturer

prof. Ing. Marek Zinecker, Ph.D.

Syllabus

1. International Trade Theories – Classical Country-Based Trade Theories
2. The Heckscher-Ohlin Model.
3. The Standard Trade Model.
4. External Economies of Scale and the International Location of Production.
5. Trade Policy I: Tariffs and Import Quotas.
6. Trade Policy II: Export Subsidies and Other Instruments of Trade Policy.
7. The political Economy of Trade Policy - Sothisticated Arguments for Restricting International Trade.
8. International Movement of Labour and Capital.
9. Prices for International Transactions: Real and Nominal Exchange Rates. Theory of Exchange-Rate Determination based on Purchasing-Power Parity.
10. Optimum Currency Areas and the European Experience
11. Equilibrium in the Open Economy: Money, Interest Rates, and Exchange Rates.
12. Fiscal and Monetary Policy in a Small Open Economy.
13. International Negotiations and Trade Policy.