Full course description
The International Economics (IE) course is intended to complement the course Making a European Market (MEM). The purpose of the IE course is to help students understand the basics of international trade and finance and the effects of various international economic policies on domestic and world welfare. The course is divided into two parts: International Trade and International Finance. The International Trade module highlights, for instance, classical and contemporary trade theories. Topics on International Finance include balance of payments and underlying adjustment theories which the IMF uses in conditionality provisions, determination of foreign exchange rates, and the international monetary and payments system. The last part is devoted to the explanation of economic crisis and its typology such as balance of payments crisis, banking crisis, debt crisis, currency crisis, financial crisis, etc., and an economic analysis of the eurozone crisis and the bail-out package, and the scenarios as to the future of European integration.
The main objectives of the IE course are to inculcate in students who are non-economists or who do not have a background in economics the skills:
- To draw, read and analyse graphs;
- To know economic relationships in the international trade and finance spheres;
- To solve simple mathematical equations;
- To apply concepts learned in real world situations through a group project;
- To formulate research problems and research questions with economic content;
- To write and work in groups.
• Salvatore, D. (2010). International economics. (10th ed.). Hoboken, NJ: Wiley.