International Economics

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.

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.