25752 - INTERNATIONAL FINANCE

Conoscenze e abilità da conseguire

The goal of the course consists in providing students with all the knowledge to interpret the dynamics of exchange rates as well as the constraints imposed by international financial markets on domestic monetary and fiscal policies. After taking this course each student will be able to: - interpret the dynamcs of capital flows in modern economies; - study global imbalances caused by Balance of Payments fluctuations; - interpret major global economic shock and figuring out the best policy mix needed to cope with it.

Contenuti

- Module 1: Introduction to International Economics and Sustainability (3 hours)

Krugman/Obstfeld/Melitz:

Chapter 1: Introduction – Basic concepts of international trade.

Chapter 2: Trade Models: An Overview.

Activity: Class discussion focused on how trade can contribute to (or hinder) the achievement of the SDGs.

- Module 2: International Trade Theories and Sustainability (5 hours)

Krugman/Obstfeld/Melitz:

Chapter 3: Labor Productivity and Comparative Advantage: The Ricardian Model.

Chapter 4: Resources, comparative advantage, and income distribution.

Activity: Discussion on how trade theories can be adapted to promote more sustainable development, considering environmental and social costs. Discussion on how climate change can alter countries' comparative advantages (e.g., impact on agriculture) and how traditional theories may not consider these factors.

- Module 3: Trade Policy and Sustainability (5 hours)

Krugman/Obstfeld/Melitz:

Chapter 9: The instruments of trade policy.

Chapter 10: The Political Economy of Trade Policy.

Activity: Propose case studies on the impact of environmental policies on international trade, such as carbon taxes. Introduce the idea that trade policies can be used (or abused) to address (or exacerbate) climate change. Example: tariffs on carbon-intensive goods.

- Module 4: Globalization and Sustainable Development (6 hours)

Krugman/Obstfeld/Melitz:

Chapter 7: Firms in Global Economies: Exports, Outsourcing, and Multinationals.

Chapter 8: The International Integration of Production Processes.

Activities: Discussion on companies that promote sustainable value chains, discussion on the importance of corporate social responsibility.

*Briefly analyze how climate change can affect global value chains (risks, resilience) and whether globalization contributes to reducing global emissions.

- Module 5: International Organizations and Sustainability (5 hours)

Krugman/Obstfeld/Melitz:

Chapter 11: The International Trade Policy System: GATT and the WTO.

Chapter 12: Controversies in Trade Policy

Activity: Research and presentation on the role of a specific international organization in promoting sustainability, discussion on the challenges and opportunities of international cooperation.

- Module 6: Group work (6 hours)

We will use Design Thinking to address real issues at the intersection of international economics and sustainability. How can we rethink global value chains to make them more resilient and inclusive, taking into account social, environmental, and economic impacts? We will work on it.

Testi/Bibliografia

International Economics, Krugman P., Obstfeld M., Melitz J.M., Pearson Ed, 11Edition

Metodi didattici

Lectures, discussion, working group.

Modalità di verifica e valutazione dell'apprendimento

Attending Students:

Class Participation and Discussions (20%)
Group Work (30%)
Written Exam (50%)-Open-ended questions, analysis exercises, and case studies to check the understanding of the concepts and the ability to apply them.

Not attending Students:

Written Exam-Open-ended questions, analysis exercises, and case studies to check the understanding of the concepts and the ability to apply them on Krugman et al. book (parts 1, 2, 3).

Assessment criteria:

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

24-27: technically adequate preparation, but with some limitations with regard to the topics covered, good analytical skills, although not particularly articulate, 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 specific terminology;

30L: excellent, very in-depth and comprehensive knowledge of the topics covered in the course, ability to analyze critically and establish connections, mastery of specific terminology.

"Advice for students with SLDs or temporary or permanent disabilities: it is advisable to contact the relevant university office (https://site.unibo.it/studenti-con-disabilita-e-dsa/it) as soon as possible. The office will be responsible for proposing any adjustments to the students concerned, which must in any case be submitted, at least 15 days in advance, for approval by the teacher, who will assess the appropriateness of such adjustments, also in relation to the teaching objectives."

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Strumenti a supporto della didattica

Frontal teaching will be delivered with the support of PowerPoint presentations, as well as papers, readings and further material provided by the lecturers. Active participation in class activities and discussions is required.

Orario di ricevimento

Consulta il sito web di Sabrina Pedrini