International Economics
A.Y. 2021/2022
Learning objectives
The aim of the course is to offer an introduction to the theory of international trade in trade flows between countries and to provide a basic analysis of the international monetary economy. Neoclassical models (Ricardo, specific factor model, Heckscher Ohlin) and models of the so-called "new theory" of international trade, based on not perfectly competitive market forms, will be presented. We will then move on to the analysis of the international mobility of factors of production and to the instruments of trade policy. The last part of the course will be dedicated to an introduction to the international monetary economy, with particular reference to open macroeconomics, monetary policy in the open economy, the currency market and exchange rate models.
Expected learning outcomes
At the end of this course, on the one side the student should be able to explain why countries engage in international trade flows and why this trade is mutually beneficial. On the other, the student should know the basic analysis of the international monetary economy. In particular, essential concepts, as monetary policy in the open economy, currency market and exchange rate, must be well kept in mind.
Lesson period: Second trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course cannot be attended as a single course. Please check our list of single courses to find the ones available for enrolment.
Course syllabus and organization
Single session
Lesson period
Second trimester
More specific information on the delivery modes of training activities for academic year 2021/2022 will be provided over the coming months, based on the evolution of the public health situation
Teaching methods
Lectures will be held in the classroom. If the situation worsens, lessons will be delivered through the Microsoft Teams platform.
Program and reference material
The programme and reference material will not be affected. All supporting educational material will always be made available through the Ariel platform.
Assessment criteria
The examination will take place in the classroom in written form or, where the situation does not allow it, in oral form using the Microsoft Teams platform
Teaching methods
Lectures will be held in the classroom. If the situation worsens, lessons will be delivered through the Microsoft Teams platform.
Program and reference material
The programme and reference material will not be affected. All supporting educational material will always be made available through the Ariel platform.
Assessment criteria
The examination will take place in the classroom in written form or, where the situation does not allow it, in oral form using the Microsoft Teams platform
Course syllabus
Unit 1
General introduction on globalization, direction of trade flows and their composition
The Ricardian model
The model with specific factors
The Heckscher-Ohlin model
Unit 2
The standard trade model
Economies of scale, imperfect competition, external economies, multinational companies
The instruments of trade policy
Unit 3
National Accounting and Balance of Payments
Exchange rates and currency markets
Currency, interest rates and exchange rates
Price level and exchange rate. PPP
General introduction on globalization, direction of trade flows and their composition
The Ricardian model
The model with specific factors
The Heckscher-Ohlin model
Unit 2
The standard trade model
Economies of scale, imperfect competition, external economies, multinational companies
The instruments of trade policy
Unit 3
National Accounting and Balance of Payments
Exchange rates and currency markets
Currency, interest rates and exchange rates
Price level and exchange rate. PPP
Prerequisites for admission
Microeconomics, Macroeconomics
Teaching methods
Lectures
Teaching Resources
KRUGMAN, P., M. OBSTFELD e M. MELITZ, Economia Internazionale, Volume I, 11a edizione, Pearson Addison Wesley, Milano 2019. Chapters 1, 2, 3, 4, 5, 6, 7, 8, 9
KRUGMAN, P., M. OBSTFELD e M. MELITZ, Economia Internazionale, Volume II, 11a edizione, Pearson Addison Wesley, Milano 2019. Chapters 2, 3, 4, 5
KRUGMAN, P., M. OBSTFELD e M. MELITZ, Economia Internazionale, Volume II, 11a edizione, Pearson Addison Wesley, Milano 2019. Chapters 2, 3, 4, 5
Assessment methods and Criteria
The final examination consists of a written test consisting of three questions relating to the part of international trade and of two questions relating to the monetary economics. These questions may consist of theoretical questions or exercises.
SECS-P/01 - ECONOMICS - University credits: 9
Lessons: 60 hours
Professor:
Meraviglia Laura