69966 - International Economics (in Buenos Aires)

Learning outcomes

At the end of the course students are able to analyze several issues related to macroeconomic policy in open economies and to the evolution of foreign exchange markets. Specifically, students are exsposed to the determination and dynamics of exchange rates, on the choice between flexible and fixed exchange rates, with special attention to the European Monetary Union, on the international role of the euro and its relationship with the dollar and, finally, on speculative attacks on currencies and the design of a new international financial architecture.

Course contents

The course is divided in two parts, each composed of 10 lectures. The first part focuses on international trade theory and policy. The second part covers topics of international macroeconomic policy.

Part 1 - International Trade & Trade Policy (all lectures are three-hour long and will be held in "Auditorio" at 13:00)

Lecture 01 (19/02/2018). Introduction: the state of the world and of international trade

Lecture 02 (21/02/2018). The economic policy of globalization

Lecture 03 (26/02/2018). The Comparative Advantage Theory and the Ricardian Model

Lecture 04 (28/02/2018). The Hecksher-Ohlin Model

Lecture 05 (02/03/2018). Economies of Scale and Imperfect Competition

Lecture 06 (05/03/2018). Foreign Direct Investment

Lecture 07 (07/03/2018). Migration

Lecture 08 (08/03/2018). Offshoring, outsourcing, and licensing

Lecture 09 (12/03/2018). Trade Policy

Lecture 10 (14/03/2018). The Trade policy of International Organizations (intellectual property rights, labor standards, trade and environment)

Lecture 11 (16/03/2018. Reassessment of International Trade

 

Part 2 - Open macroeconomics and international macroeconomic policy (all lectures are three-hour long and will be held in "Aula 1" at 17:00)

Lecture 12 (03/04/2018). Reassessment and Group Projects

Lecture 13 (04/04/2018). National Accounting and the Balance of Payments

Lecture 14 (06/04/2018). Exchange Rates and the Foreign Exchange Market

Lecture 15 (09/04/2018). Exchange Rate Policies

Lecture 16 (11/04/2018). Optimal Currency Areas

Lecture 17 (16/04/2018). The European Experience

Lecture 18 (17/04/2018). International Financial Markets and Institutions

Lecture 19 (18/04/2018). Financial Globalization: Opportunity and Crisis

Lecture 20 (20/04/2018). Presentations

Readings/Bibliography

Main textbooks:

Krugman, P., M. Obstfeld and Marc Melitz: "International Economics: Theory and Policy", Pearson Eds (last edition)

R. Feenstra, A. Taylor, "International Economics", Macmillan (last edition).

Any textbook of "International Economics" can be useful.

Lectures' slides, additional material and further readings will be posted in the repository in due time.

Teaching methods

Lectures and discussion

Assessment methods

The exam is aimed at evaluating the skills and the critical abilities developed by the students as regards to international trade, trade policies and open macroeconomic policy. The exam is composed of a written test, covering the topics of the two theoretical parts. It is not possible to bring books, personal notes or electronic devices in the exam. The mark is out of 30 points, and the minimum required to pass the exam is 18 / 30. Registration for the exam is compulosry, and students have to register through AlmaEsami [https://almaesami.unibo.it/almaesami/welcome.htm] according to the general rules of the University of Bologna.

For students attending lectures it is possibile to give the exam through two mid-term assessments:

The mid-term assessment for Part I (50% of the final mark) is scheduled at the end of the first term (23rd of March 2018, at 13:00), it is one-hour long and is composed of two open questions.

The mid-term assessment for Part II (50% of the final mark) is scheduled at the end of the second term (in Lectures 18 and 19), it is composed of a group project on a topic chosen at the beginning of the term. The groups will have to draft a short essay and discuss it with the teacher and the rest of the classroom.

For students failing the exam through mid-term assessments there will be two make-up exams throughout the year (the first one is scheduled on Friday the 27th of April, at 17:00). The exam is two-hour long and is composed of four open questions.

 

Teaching tools

Whiteboard, pens and brain

Office hours

See the website of Paolo Figini