25752 - INTERNATIONAL FINANCE

Conoscenze e abilità da conseguire

The purpose of the course is to study the impact of globalization on firms strategc decisions. Attention will be focused to customization of company's offering in different countries, to standardized/differentiated approach to competition in differnt countries, to choices of reconfiguate their business model on an international basis.

Contenuti

1) Introduction to Traditional Models of International Trade (Chapters 3, 4 and 5 of the textbook plus additional material provided by the instructor): the Ricardian model, the Specific-Factor model, the Heckscher-Ohlin model. Comparative advantage and inter-industry trade. Effects of trade on income distribution.

2) Imperfect Competition and New Theories of International Trade (Chapters 7 and 8 of the textbook): Internal and external economies of scale. Intra-industry trade. Monopolistic competition and trade. Firm Responses to Trade: Winners, Losers, and Industry Performance. Dumping. Outsourcing.

3) Trade Policy Instruments (Chapter 9 of the textbook plus additional materials provided by the instructor): tariffs, subsidies, and quotas. New instruments of trade protection: voluntary export restraints, antidumping duties, local content requirements, minimum quality standards.

4) Political Economy of Trade Policy (Chapters 10 and 12 of the textbook): Free Trade versus Protectionism. Some examples of current trade agreements: EU Customs Union, NAFTA, Mercosur. Recent controversies in trade policy and trade retaliation. Links between trade and the environment.

5) The Economics of European Integration Part I: the Common Market (materials provided by the instructor): the European integration process. The EU Customs Union. The Single European Act and the creation of a Common Market. The EU Competition Policy.

Testi/Bibliografia

Krugman, Obstfeld and Melitz (2015), International Economics: Theory and Politics. 10th Edition. Chapters 3-5, 7-12.

For attending students, the textbook is recommended but not strictly necessary in order to prepare the exam. For students who decide not to attend classes, the textbook is compulsory.

Additional lecture notes will be provided by the instructors. These materials will be made available on the course website, along with additional complementary readings.

Class participation is highly recommended in order to successfully understand the course content.

Metodi didattici

The course will be taught using a wide variety of formats, including lectures, classroom discussions, and students’ presentations. Case studies will be used to evaluate students’ ability to apply the theoretical knowledge acquired during the course.

Modalità di verifica e valutazione dell'apprendimento

Final written exam with open questions.

Group presentation.

Strumenti a supporto della didattica

Virtuale/moodle platform with slieds and additional teaching materials. 

Orario di ricevimento

Consulta il sito web di Giovanni Maria Mazzanti