INTERNATIONAL ECONOMICS
Syllabus
EN
IT
Learning Objectives
LEARNING OUTCOMES:
The course is designed to provide an in-depth knowledge of the main aspects of statistical inference (point estimation and hypothesis testing), both from a conceptual and a technical point of view. Techniques for small and large samples will be provided.
KNOWLEDGE AND UNDERSTANDING: The student is expected to learn the main inferential techniques and to acquire the tools to evaluate the goodness of the different methods.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course the student will be able to formalize practical problems and solve specific analytical problems such as finding and comparing estimators, comparing different inferential methods and implementing hypothesis testing techniques.
MAKING JUDGEMENTS:
At the end of the course, the students will be able to apply the knowledge learned and to critically interpret quantitative data related to economic and financial phenomena.
COMMUNICATION SKILLS:
Students will acquire the technical language typical of statistics and be able to comunicate in a clear and unambiguous way the concepts learned during the course.
LEARNING SKILLS:
At the end of the course the students will be able to formalize and to solve pratical problems, showing to be able to implement independently the methods learned.
The course is designed to provide an in-depth knowledge of the main aspects of statistical inference (point estimation and hypothesis testing), both from a conceptual and a technical point of view. Techniques for small and large samples will be provided.
KNOWLEDGE AND UNDERSTANDING: The student is expected to learn the main inferential techniques and to acquire the tools to evaluate the goodness of the different methods.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course the student will be able to formalize practical problems and solve specific analytical problems such as finding and comparing estimators, comparing different inferential methods and implementing hypothesis testing techniques.
MAKING JUDGEMENTS:
At the end of the course, the students will be able to apply the knowledge learned and to critically interpret quantitative data related to economic and financial phenomena.
COMMUNICATION SKILLS:
Students will acquire the technical language typical of statistics and be able to comunicate in a clear and unambiguous way the concepts learned during the course.
LEARNING SKILLS:
At the end of the course the students will be able to formalize and to solve pratical problems, showing to be able to implement independently the methods learned.
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
Feenstra, R.C., Taylor, A.M., International Economics, Worth Publishers (I volume), last edition.
*Allen T, and Arkolakis C. Elements of advanced international trade. Lecture notes, 2016.
*Feenstra, Advanced International Trade, Princeton University Press (2nd 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
*Allen T, and Arkolakis C. Elements of advanced international trade. Lecture notes, 2016.
*Feenstra, Advanced International Trade, Princeton University Press (2nd 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 exercises 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 exercises 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 evaluated based on the individual score achieved on a final written exam. The exam is based on all the topics covered during the lectures and classes, the chapters of the textbook and, possibly, the supplementary readings assigned during the course. It will be composed of a mix of open-ended questions, multiple-choice questions and exercises, through which the student will demonstrate to know theoretical concepts and how to apply them to real world cases. The number of questions within each typology will be decided by the instructor during the course and will be communicated to students before the exam. A mock exam will also be made available.
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.