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Trade and Finance in the Global Economy


Admission requirements



Countries nowadays are part of the global economy. Before products reach their final destinations, they have traveled the world as businesses increasingly cut up production processes over many countries; also massive flows of finance are crisscrossing the world. These developments challenge the possibilities with which countries and international economic organisations can exercise an independent economic policy. In this course, we will discuss the different roots and the benefits of international trade as well as their costs; further, we will discuss the benefits and costs of a free flow of finance, in particular we will include risks of financial crises. At the end of this course students will have an understanding of the basic principles of trade and finance and of the motivation of business to engage in international activities. Students will be able to present economic arguments on these international economic issues.

Course objectives

The aim of this course is to provide students with the knowledge and an understanding on the issues in the field of International Economics. The student will be trained to independently analyse these issues.

At the end of this course, students will be able to:

  • define and explain the main benefits and costs of international trade;

  • identify and evaluate the main costs and benefits of protectionism;

  • define the constituent elements of the major international trade arrangements;

  • identify the various systems of exchange rates and analyse the interaction between these systems of exchange rates and economic policies;

  • define and explain the main benefits and costs of international flows of capital.

  • define and explain the causes and remedies of (global) financial crises


Check MyTimetable.

Mode of instruction


  • Number of (2 hour) lectures: 7

  • Name(s) of lecturer(s): dr. J.F. de Kort

  • Required preparation by students: reading the prescribed material


  • Number of (2 hour) seminars: 6

  • Name(s) of lecturer(s): dr. J.F. de Kort and dr. R.E.M. Diris

  • Required preparation by students: preparing the exercises that are indicated in the course syllabus that will be available on Brightspace.

Assessment method

Examination form(s)

  • Written exam (100%)

Areas to be tested within the exam
The examination syllabus consists of the required reading (literature) for the course, the course information guide and the subjects taught in the lectures, the seminars and all other instructions which are part of the course.

Regulation retake passed exams
In this course it is possible to retake an exam that has been passed (cf. art. 4.1.8 and further of the Course and Examination Regulations) on the condition that this course is not part of the minor. Students who have passed the exam may retake the final written assessment (test) of the course if they meet certain requirements. For more information, go to the website > ‘Law’ tab > ‘Retake a passed exam’.

Reading list

Required course materials

  • Kenneth Reinert, An Introduction to International Economics, second edition, Cambridge University Press, 2021 (isbn: 9781108455169)

Course information guide:

  • Contains study information, reading material, a reader’s guide, and the organization of the course. See Brightspace.


  • Trade and Finance in the Global Economy, available through Brightspace


Registration for courses and exams takes place via MyStudymap. If you do not have access to MyStudymap (guest students), look here (under the Law-tab) for more information on the registration procedure in your situation.

A block of seats will be reserved for exchange students and will be registered through the international office.
You may register up to 5 calendar days before the first teaching session begins.


  • Coördinator: dr. J.F. de Kort

  • Work address: Kamerlingh Onnes Gebouw, Steenschuur 25, 2311 ES Leiden, kamer B 2.05

  • Contact information: through the secretariat of the Economics unit.

  • Telephone number: 071 – 527 7831

  • Email:
    Students have to register for courses and exams through uSis
    A block of seats will be reserved for exchange students and will be registered through the international office.


  • Institute: Tax Law and Economics

  • Department: Economics

  • Room number secretariat: B2.07

  • Opening hours: Monday to Friday 9.00 – 12.00

  • Telephone number secretariat: +31 (0)71 527 7756

  • Email: