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Trade and Finance in the Global Economy

Vak 2014-2015

Tag(s)

[BSc], GED, ID, PSc, Ec

Admission Requirements

Principles of Economics or equivalent, or permission from the course instructor.

Description

Countries are increasingly eliminating their trade barriers and international trade now truly spans the globe. Products and services come from everywhere and go everywhere. This, as well as the liberalization of 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 of international trade and finance as well as the recent developments in trade and finance. These will include, among other things, 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 globalization. Students will be able to understand, apply and discuss fundamental economic arguments on international economic issues.

Course Objectives

In this course, the student will gain a thorough acquaintance with the principles of international economics. He will understand the benefits and costs of international trade and finance, as well as the recent developments in trade and finance. At the end of this course, the student:

  • understands the important current issues in the field of International Economics
  • has a command of the core elements in this field of expertise;
  • is able to collect, interpret and process information in the field of International Economics

Mode of Instruction

Each week consists of two seminars.
During the first seminar, the main issues in the required reading will be identified and discussed. Based on an interactive setting, the focus will be on understanding the concepts and theories in international economics.
In the second seminar, students will apply their knowledge. Each week the homework consists of preparing study problems. In class the students will discuss the solutions for the problems. Applying the concepts and theories, and explaining this to each other increases the knowledge and understanding of economics.

Literature

TBC.

Weekly Overview

1: The Benefits of International Trade.
2: A Reappraisal of International Trade.
3: Trade Policies.
4: Trade Cooperation.
5: Balance of Payments and Exchange Rates.
6: International Financial Architecture and Financial Crises.
7: Open Macro-economic Policies.