- Docente: Massimiliano Marzo
- Credits: 6
- SSD: SECS-P/01
- Language: Italian
- Teaching Mode: Traditional lectures
- Campus: Forli
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Corso:
Second cycle degree programme (LM) in
Economics and management (cod. 9203)
Also valid for Second cycle degree programme (LM) in Economics and management (cod. 9203)
Learning outcomes
The course aims to endow students with the basic knowledge of the determinants of international trade. At the end of the course students will be able: - to interpret the dynamic trade flows and to design the set of policy actions to cope with persitent imbalances of domesti competitiveness; - analyze international trade policies and predict their effects on domestic competitiveness, as well as designing 'ad hoc' policies needed to improve the external positition of a given country. Finally students will learn: - how to predict trade flows on the basis of industrial structure of a given country.
Course contents
A tentative schedule will cover the following list of topics:
1. International Monetary Systems.
2. The international coordination of economic policies.
3. Cost and benefits of a common currency: a critical analysis of optimal currency areas.
4. The building of European Monetary Union: the Barro-Gordon model in open economy.
5. Monetary Union and Maastricht Treaty. The Convergence approach.
6. Tools to hedge against exchange-rate risk: futures, swaps, options.
7. European Central Bank and monetary policy in Euroland.
8. Sovereign debt crisis in Europe and Latin America.
9. International Trade Theory: Comparative Advantage model.
10. The Hecksher-Ohlin model.
11. The effect of tariffs and quote on international pricing equilibrium. The Laursen-Metzler case, and the Balassa-Samuelson effect.
12. Inter and intra-industry trade. Product differentiation and the competition stance as determinants of international trade.
Readings/Bibliography
Pilbeam K., “International Finance”, fourth edition, 2014, Palgrave McMillan
De Grauwe P., The Economics of Monetary Union, tenth edition, 2014, Oxford University Press,
Krugman P. and M. Obstfeld, (2010), International Economics, chapter 1-8.
Additional readings will be distributed in class.
Teaching methods
The course is offered on a traditional in-class lecture: there will be 10 class meetings, each of them is 3 hours-long, for a total of 30 hours.
Assessment methods
Written in class exam (1 or 2-hours).
Teaching tools
Slides, overheads and additional set of notes (copyrighted) will be distributed in class.
Office hours
See the website of Massimiliano Marzo