- Docente: Giulio Fella
- Credits: 10
- SSD: SECS-P/01
- Language: Italian
- Teaching Mode: Traditional lectures
- Campus: Bologna
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Corso:
First cycle degree programme (L) in
Political, Social and International Sciences (cod. 8853)
Also valid for First cycle degree programme (L) in Economics, Markets and Institutions (cod. 8038)
First cycle degree programme (L) in International Development and Cooperation (cod. 8890)
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from Feb 14, 2023 to May 24, 2023
Learning outcomes
The aim is to provide basic knowledge of Open Macroeconomics and International trade issues. At the end of the course the students are expected to be able to use concepts currently employed in the economic debate, like, exchange rates, balance of payments, exports, FDI. They are expected to understand the rationales underlying the macroeconomic and trade policies in open economies and to analyse the main international economic events related to globalization.
Course contents
Introduction
Comparative advantage in an exchange economy
Labor Productivity and Comparative Advantage: The Ricardian Model
The Heckscher-Ohlin Model
External Economies of Scale and the International Location of Production
Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises
The Instruments of Trade Policy
The Political Economy of Trade Policy
Trade Policy in Developing Countries
National Income Accounting and the Balance of Payments
Determinants of the current account
The real exchange rate
Foreign Exchange Market: A Portfolio Approach
Money, the Price Level and the Nominal Exchange Rate in the Long Run
Nominal Exchange Rate in the Short Run
Fixed Exchange Rates and Foreign Exchange Intervention
Macroeconomic Policies under Fixed and Flexible Exchange Rates
Optimal Currency Areas and the Euro
Readings/Bibliography
Krugman P. R., Obstfeld M., Melitz M. J. (2019), International Economics: Theory and Policy, 11th Edition, Pearson.
Teaching methods
Lectures and exercises with the instructor
Assessment methods
Written exam. Two partial exams (one midterm and one final) for students currently taking the course.
Marks: fail <18; pass 18-23; good 24-27; very good 28-30; outstanding 30 cum laude
Teaching tools
Lecture slides made available through the online unibo platform
Office hours
See the website of Giulio Fella