Admission requirements
None.
Description
Globalization is a process in which economic activities increasingly transcend national borders, enhancing the interdependence of firms, individuals, and governments worldwide. These developments create opportunities for growth and specialization, but they also raise important economic and political challenges and limit the scope for independent national policymaking. In this course, we examine the main forces shaping international trade and international financial flows, alongside the role of multinational firms and global value chains. We explore why countries trade, why capital flows across borders, and how international economic integration affects economic and societal outcomes. Throughout the course, attention is paid to both the benefits and the potential downsides of globalization, including distributional conflicts associated with trade and the risks of instability associated with international finance. The course also takes a critical perspective on standard economic arguments for free trade and free capital mobility by discussing the assumptions behind these models and how well they reflect real-world economic outcomes.
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:
Discuss the role of government policy - fiscal, monetary, and trade-related - in shaping outcomes in international trade and finance
Define and explain the key advantages and disadvantages of international trade, international production and international finance;
Understand and interpret the fundamental principles of economic cooperation, particularly within the EU, WTO and IMF;
Recognize how international trade and international finance are related, in particular through the balance of payments and the exchange rate;
Analyze the vulnerabilities in the international financial system and explain how these can lead to financial crises;
Critically reflect on economic theories used in the fields of international trade and finance, and identify their limitations.
Timetable
Check MyTimetable.
Mode of instruction
Lectures
Number of (2 hour) lectures: 7
Name(s) of lecturer(s): dr. R.E.M. Diris
Required preparation by students: reading the prescribed material
Seminars
Number of (2 hour) seminars: 6
Name(s) of lecturer(s): C.S. Verhoeven 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
Literature:
Kenneth Reinert, An Introduction to International Economics, second edition, Cambridge University Press, 2021 (isbn: 9781108455169)
Weekly readings referenced in the syllabus
Syllabus
- Contains study information; reading material; a reader’s guide; and the organization of the course. See Brightspace.
Registration
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.
Contact
Coördinator: r.e.m.diris@law.leidenuniv.nl
Work address: Spui 5, The Hague
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.
Institution/division
Institute: Tax Law and Economics
Department: Economics
Room number secretariat: B2.07
Telephone number secretariat: +31 (0)71 527 7756
Email: economie@law.leidenuniv.nl