B5971 - International Economics (LM)

Learning outcomes

The course is designed to provide some basic theoretical tools for students who have not taken International Economics in their first degree. The course focuses on the reasons that explain trade patterns between countries and the gains and losses from trade. The main instruments of trade policy are analysed, the costs and benefits of protectionist trade policies are assessed, and the political economy of trade policy is discussed. A thorough review of microeconomic theories of the consumer and the firm is strongly recommended before the course.

Course contents

Institutional Section

Introduction to the subject

Labor productivity and comparative advantages: the Ricardo model

Specific factors and income distribution

The Heckscher-Ohlin model

The general model of international trade

The tools of commercial policy

Political economy and commercial policy

Trade policy in developing countries

Disputes on commercial policy

Introduction to monetary economics

Seminar Section

Introduction to causal inference and empirical methods

Case studies

Introductory classes on how to give a presentation and how to write a research paper

Readings/Bibliography

The basic text will be Krugman P. R., Obstfeld M., Melitz M. J. (2023) International Economics, Pearson. (Students can also use previous editions, the contents are comparative the same).

The supplementary bibliographic material can be provided by the teachers. Specifically, any article posted on Virtual that contains the words "LETTURA OBBLIGATORIA" in the link will be part of the exam material (for both frequent and non-frequent attendees).


Example: In the section on Virtual called Short Intro to Empirical Methods, the reading "Angrist_Credibility_Revolution_LETTURA_OBBLIGATORIA"

Teaching methods

Lessons with the support of pptx and blackboard.

The institutional part of the course will be divided into lessons aimed at introducing students to the discipline, its major themes and its conceptual categories to learn economic reasoning.

In the seminar part of the course, the lessons will be interactive and may also include seminars. In this case, students will be required to prepare before the lesson with the readings indicated by the teacher on the topics that will be addressed.

Pre-requisites for entering the course: none.

Assessment methods

IMPORTANT FOR ALL STUDENTS:

The results of the exam tests will be published on Virtuale in the days immediately following the exam.

Students who have obtained a grade they wish to accept do not need to do anything. The instructor will officially record the grade.

From the moment the results are published, students who wish to reject their grade have 48 hours to inform the instructor of their decision by email. If no communication is received within this deadline, the grade will be officially recorded.

DEFINITION OF “ATTENDING STUDENT”: A student who has attended at least 70% of the total course hours.

TESTS FOR ATTENDING STUDENTS:

The assessment for attending students consists of two components:

1. Midterm test, held in class, lasting 45 minutes, on the material covered in lectures 1–10. The test consists of 20 multiple-choice questions, for example true/false questions. The midterm test will count for 50% of the final grade.

2. Writing a short policy brief on a topic to be agreed upon with the instructor, plus an in-class presentation. The assessment of component 2 will consist of the average between the grade awarded to the policy brief and the quality of the individual presentation. Component 2 will count for 50% of the final grade.

N.B. Attending students who do not obtain a passing grade in all midterm assessments must take the exam according to the procedure described below under “Non-attending students.”

EXAM FOR NON-ATTENDING STUDENTS OR ATTENDING STUDENTS WHO DO NOT PASS THE MIDTERM ASSESSMENTS

The exam for non-attending students is the same as the full exam for attending students who have not passed all the midterm assessments.

The test will consist of 20 multiple-choice questions, for example true/false questions. Duration: 45 minutes.

Topics: as indicated in the Syllabus: chapters from Krugman, slides posted on Virtuale, and the papers posted on Virtuale marked as “MANDATORY READING.” These papers must be studied in detail, including not only the results but also the methodologies, etc.

With regard to the assessment of learning, the use of AI is prohibited for assessment tests carried out in an uncontrolled environment. These will be validated afterwards through the analysis of the work materials produced and mandatorily submitted, including, where applicable, through an oral interview.

Assessment criteria:

18–23: sufficient preparation and analytical skills, but relating to a limited number of topics covered in the course; use of generally correct language;

24–27: technically adequate preparation, but with some limitations regarding the topics covered; good analytical skills, although not particularly detailed, expressed in correct language;

28–30: excellent knowledge of a wide range of topics covered in the course; good analytical and critical skills; mastery of the specific terminology;

30L: excellent, very in-depth, and comprehensive knowledge of the topics covered in the course; ability to carry out critical analysis and make connections; mastery of the specific terminology.

N.B. Students, particularly non-attending students, are strongly advised to study all the material posted on Virtuale, including the readings marked as non-mandatory.

Students with specific learning disorders, temporary disabilities, or permanent disabilities are advised to contact the relevant University office in good time: https://site.unibo.it/studenti-con-disabilita-e-dsa/it . The office will propose any appropriate accommodations to the students concerned. These accommodations must, in any case, be submitted to the instructor for approval at least 15 days in advance. The instructor will assess their suitability also in relation to the learning objectives of the course.

REFERENCE LETTERS: Students who are planning to apply for study programs and/or jobs for which a reference letter is required may submit a request to the instructor under the following conditions:

• They must have attended and actively participated in the course.

• They must have obtained a final grade in the course of at least 30/30.

• They must contact the instructor and submit the request in good time, for example at least one or two months before the deadline for receiving the reference letter.

• They must take part in an additional interview held by the instructor during the course period. The additional interview will not affect the final grade for the course; it will only be preparatory to assessing whether it is appropriate for the instructor to act as a referee and, if applicable, to drafting the reference letter.

Teaching tools

Lessons in classrom with slides.

UNIBO application "Virtuale" for the dissemination of notices and contents.

Office hours

See the website of Marco Fabbri