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Trade and Finance in the Global Economy


Admission requirements



Countries are increasingly interdependent on each other. Products and services come from everywhere and go everywhere. This and the large financial flows makes countries very dependent on what happens in the international economy. At the end of this course, students will have an understanding of both the basic principles and the recent developments in trade and finance. These will include, among other things, the benefits of international trade, regional and global integration, the consequences of international financial crises on the development of economies, the interaction of economic policies in individual countries and the impact of international institutions, such as the WTO and the IMF, on the processes of globalisation. Students will be able to present simple economic arguments on international economic issues.

The course is aimed at complementing European and International Law courses. These courses focus on the legal aspects of international relations. Developments in the legal field, however, are closely related to the economic developments.

Course objectives

Objectives of the course
The course is part of the Minor Economics. In this course, the student will attain knowledge and an understanding on the issues in the field of International Economics. The student will be trained to independently analyse these issues.

Achievement levels
The following achievement levels apply with regard to the course:
1. You will be able to define and explain important (current) issues in the field of International Economics.
2. You will be able to define the constituent elements of international economic institutions – the World Trade Organisation and the International Monetary Fund – and explain their functions in the international economic relations between member states;
3. You will be able to write concise briefs on indicated topics from the material using material from the course and material that you collect from the websites of the WTO and the IMF.

Mode of instruction

Number of (2 hour) lectures: 5

Number of (2 hour) seminars: 5
Required preparation by students: reading material, assignments. Students are expected to actively engage in discussions with regard to the assignments.

Assessment method

Examination form(s)

  • Written exam (80%)

  • Written assignment during the course (10%)

  • A series of small multiple choice tests during the course (10%)

The scores for the multiple choice test and the additional assignment(s) are only applicable to the final written exam, not to the resit.

Submission procedures
The multiple choice tests will be made available and have to be submitted through Blackboard.

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.


More information on this course is offered in Blackboard.

Reading list

Obligatory course materials
Dominick Salvatore, Introduction to International Economics, Wiley, 3rd edition, 2012.

Course information guide:
Contains study information, reading material, a reader’s guide, and the organisation of the course. See Blackboard.

Trade and Finance in the Global Economy (app. 150 pp.), available through Blackboard

Recommended course materials

Contact information

  • Co-ordinator: Dr. J. de Kort

  • Work address: Kamerlingh Onnes Gebouw, Steenschuur 25, 2311 ES Leiden, kamer A 2.63

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

  • Telephone number: 071 – 527 7831

  • Email:


  • Institute: Tax Law and Economics

  • Department: Economics

  • Room number secretary: B207

  • Opening hours: Monday to Friday 9.00 – 12.00

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

  • Email:




Belangstellenden die deze cursus in het kader van contractonderwijs willen volgen (met tentamen), kunnen meer informatie vinden over kosten, inschrijving, voorwaarden, etc. op de website van Juridisch PAO.