Updated A.Y. 2020-2021
Grasping globalization required to understand what are the determinants of international trade and how production is organized across national boundaries. In the first part of the course we study the paradigms of foreign trade that were developed in the XIX and XX centuries (Ricardo, Heckscher and Ohlin) together with the “new” trade models which emphasize economies of scale, monopolistic competition and the role of multinational firms. We will examine who benefits and who loses from trade and the welfare effects of various trade policies.
In the second part of the course we study the financial aspects of foreign trade: the balance of payments, the determinants of the foreign exchange markets and the various international monetary systems which have appeared in the last two centuries with a final focus on the European Monetary Union and Brexit.
Find more information in the Syllabus