INTERNATIONAL ECONOMICS
Syllabus
EN
IT
Learning Objectives
LEARNING OUTCOMES:
The course analyzes the fundamental elements of modern international trade theory and policy. Its objective is to understand the behavior of the main economic variables at the global level, with particular attention to international trade and factor movements. International economic phenomena will be studied from both theoretical and empirical perspectives. Issues related to international trade, the design of trade policies, and their consequences will also be examined within institutional frameworks.
KNOWLEDGE AND UNDERSTANDING:
The course will offer key theoretical tools to compare theories of International Economics and to understand the pros and cons of them. The course provides advanced knowledge that will enable students to understand the processes, content, and consequences of different policies across countries and globally.
APPLYING KNOWLEDGE AND UNDERSTANDING:
The students will be able to:
- apply international trade theories to the current economic situation
- examine international trade policies by comparing different approaches across countries in Europe, the USA, and Asia
- look at how politics and institutions shape, constrain, and enable policy-making
MAKING JUDGEMENTS:
Students will be able to analyze international economics theories, public policy, and governance models to demonstrate an in-depth, critical understanding of their scope and challenges. Throughout the whole course, students will be invited to critically analyze current events that influence international economics.
COMMUNICATION SKILLS:
This course will give students the possibility to acquire and understand major terms and concepts of international trade theory in order to communicate their ideas, proposals, analyses, and critical reasoning. This will be done through individual contribution in class, class discussions and simulations, and team-work among students.
LEARNING SKILLS:
This course will help empower students by providing them with the tools to assess the costs and benefits of international trade and trade policies, as well as the impact of current events on the international economy
The course analyzes the fundamental elements of modern international trade theory and policy. Its objective is to understand the behavior of the main economic variables at the global level, with particular attention to international trade and factor movements. International economic phenomena will be studied from both theoretical and empirical perspectives. Issues related to international trade, the design of trade policies, and their consequences will also be examined within institutional frameworks.
KNOWLEDGE AND UNDERSTANDING:
The course will offer key theoretical tools to compare theories of International Economics and to understand the pros and cons of them. The course provides advanced knowledge that will enable students to understand the processes, content, and consequences of different policies across countries and globally.
APPLYING KNOWLEDGE AND UNDERSTANDING:
The students will be able to:
- apply international trade theories to the current economic situation
- examine international trade policies by comparing different approaches across countries in Europe, the USA, and Asia
- look at how politics and institutions shape, constrain, and enable policy-making
MAKING JUDGEMENTS:
Students will be able to analyze international economics theories, public policy, and governance models to demonstrate an in-depth, critical understanding of their scope and challenges. Throughout the whole course, students will be invited to critically analyze current events that influence international economics.
COMMUNICATION SKILLS:
This course will give students the possibility to acquire and understand major terms and concepts of international trade theory in order to communicate their ideas, proposals, analyses, and critical reasoning. This will be done through individual contribution in class, class discussions and simulations, and team-work among students.
LEARNING SKILLS:
This course will help empower students by providing them with the tools to assess the costs and benefits of international trade and trade policies, as well as the impact of current events on the international economy
Prerequisites
Students are assumed to be familiar with the basic principles of Microeconomics, Macroeconomics and International Economics. Knowledge of algebra, differential calculus and graphical analysis is also requested.
Program
- The facts of trade (2 hours)
- Interindustry trade: Ricardo, Samuelson-Ricardo-Viner, and Heckscher–-Ohlin models (10 hours)
- Intraindustry trade: The Krugman model (4 hours)
- Heterogeneous firms in the global economy, export decisions, outsourcing, and multinational enterprises (10 hours)
- International trade policy, trade wars and trade agreements (10 hours)
- Interindustry trade: Ricardo, Samuelson-Ricardo-Viner, and Heckscher–-Ohlin models (10 hours)
- Intraindustry trade: The Krugman model (4 hours)
- Heterogeneous firms in the global economy, export decisions, outsourcing, and multinational enterprises (10 hours)
- International trade policy, trade wars and trade agreements (10 hours)
Books
*Allen T, and Arkolakis C. Elements of advanced international trade. Lecture notes, 2016.
*Feenstra, Advanced International Trade, Princeton University Press (2nd edition).
Feenstra, R.C., Taylor, A.M., International Economics, Worth Publishers (I volume), last edition.
Salvatore, D. International Economics, Wiley Publishers, last edition.
Krugman, P., Obstfeld, M., Melitz, M., International economics, theory and policy, Pearson, last edition.
*=more advanced textbook
*Feenstra, Advanced International Trade, Princeton University Press (2nd edition).
Feenstra, R.C., Taylor, A.M., International Economics, Worth Publishers (I volume), last edition.
Salvatore, D. International Economics, Wiley Publishers, last edition.
Krugman, P., Obstfeld, M., Melitz, M., International economics, theory and policy, Pearson, last edition.
*=more advanced textbook
Bibliography
Additional information regarding the chapters needed to cover all the topics will be provided at the beginning of the course.
Reading lists will also be provided for each topic convered.
Reading lists will also be provided for each topic convered.
Teaching methods
Lectures, class discussions and problem sets.
Lecture slides and other teaching material will be made available before the beginning of each class. The solutions to the problem sets will also be discussed in class.
Lecture slides and other teaching material will be made available before the beginning of each class. The solutions to the problem sets will also be discussed in class.
Exam Rules
The student will be assessed on the basis of the individual score obtained in an oral exam. The exam is based on all the topics covered in the lectures and may refer to the supplementary readings assigned during the course. In the oral examination, the student will be required to demonstrate knowledge of the theoretical concepts, the analytical foundations of the models, and the ability to apply them to real-world cases
The score of the exam is awarded by means of a grade expressed out of thirty.
Students who withdraw or fail the exam may take the exam again in the same exam
session. In order to pass the exam, it is necessary that the student gets at least 18/30.
Criteria for the formulation of the judgment expressed in thirtieths:
o Unsuitable: significant deficiencies and/or inaccuracies in knowledge and understanding of the topics; limited capacity for analysis and synthesis, frequent generalizations.
o 18-20: barely sufficient knowledge and understanding of the topics with possible imperfections; sufficient capacity for analysis, synthesis and autonomy of judgement.
o 21-23: Routine knowledge and understanding of the topics; Correct analysis and synthesis skills with coherent logical argumentation.
o 24-26: Fair knowledge and understanding of the topics; good capacity for analysis and synthesis with rigorously expressed arguments.
o 27-29: Comprehensive knowledge and understanding of the topics; Considerable ability to analyze, synthesize. Good autonomy of judgement.
o 30-30L: Excellent level of knowledge and understanding of the topics. Remarkable analytical and synthetic skills and independent judgement. Arguments expressed in an original manner.
The score of the exam is awarded by means of a grade expressed out of thirty.
Students who withdraw or fail the exam may take the exam again in the same exam
session. In order to pass the exam, it is necessary that the student gets at least 18/30.
Criteria for the formulation of the judgment expressed in thirtieths:
o Unsuitable: significant deficiencies and/or inaccuracies in knowledge and understanding of the topics; limited capacity for analysis and synthesis, frequent generalizations.
o 18-20: barely sufficient knowledge and understanding of the topics with possible imperfections; sufficient capacity for analysis, synthesis and autonomy of judgement.
o 21-23: Routine knowledge and understanding of the topics; Correct analysis and synthesis skills with coherent logical argumentation.
o 24-26: Fair knowledge and understanding of the topics; good capacity for analysis and synthesis with rigorously expressed arguments.
o 27-29: Comprehensive knowledge and understanding of the topics; Considerable ability to analyze, synthesize. Good autonomy of judgement.
o 30-30L: Excellent level of knowledge and understanding of the topics. Remarkable analytical and synthetic skills and independent judgement. Arguments expressed in an original manner.
Attendance Rules
Attendance is not compulsory.