EXC 3603 International Economics
The course gives the students an introduction to international economics. Among the topics are gains from and problems with international trade and economic globalization. The course gives an overview of main theories of international trade and international investments. The course also covers trade policy.
The course introduces the students to the main concepts of international economics. Among the topics covered are the gains and problems of globalization, theories of comparative advantages, international trade and increasing returns, international factor movements and trade policy. The course introduces the students to economic theories in international economics as well as empirical regularities. It also places an emphasis on international trade policy issues. Do tariffs support or retard economic development? Do export subsidies harm other countries? Who gains and who loses from economic integration? Relationships between poor and rich countries are also discussed.
During the course students will:
- Achieve an understanding of sources of comparative advantages and of increasing returns as a reason for international trade.
- Acquire knowledge of effects of international trade for the exporting and the importing countries and for the internal income distributions in the integrating countries.
- Acquire knowledge about international capital movements and labour migration and their relationships with international trade.
After completing the course students will:
- Be able to handle analytically the main theories in international trade.
- Be able to discuss and analyse main topics and issues in the debates on globalization.
- Have skills to understand gains and losses from international integration and how these influence the internal income distributions in the trading countries.
- Be able to follow public debates on globalisation, international trade and economic integration.
- Be able to analyse opportunities as well as challgenges for firms operating in international markets.
- Students will gain insights into main dilemmas about trade policies, and will be able to reflect on why international trade is both a source of welfare and of conflict. This special field gives rich opportunities for reflecting on the debates related to the importance of international trade and economic integration.
- Students be able to reflect on the role of international trade and multinational firms in national and global markets.
- Trade with goods and services
- International trade theory
- Imperfect competition and economies of scale
- Income effects related to trade
- International factor movements
- Trade policy
Internet-based assignments and cases may be used.
EXC 2910 Mathematics or equivalent.
|Exam category||Weight||Invigilation||Duration||Support materials||Grouping||Comment exam|
Form of assessment:
Internal and external examiner
Examination every semester
|Form of assessment:||Written submission|
|Support materials:|| |
|Resit:||Examination every semester|
|Workload activity||Duration||Type of duration||Comment student effort|
|Review of assignments in plenary||7||Hour(s)|
|Group work / Assignments||8||Hour(s)||Work on mandatory exercises (approx. 1,5 hour per exercise).|
|Workload activity:||Review of assignments in plenary|
|Workload activity:||Group work / Assignments|
|Comment:||Work on mandatory exercises (approx. 1,5 hour per exercise).|
|Workload activity:||Self study|
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.
|Krugman, Paul R.; Obstfeld, Maurice; Melitz, Marc J.||2018||International economics: theory and policy||Eleventh ed||Pearson|
|Robert A. Mundell||1957||International Trade and Factor Mobility|