Other languages of instruction: Catalan, Spanish,
The course goes over the details on how an open economy functions in a globalized and integrated world. It is concerned with the most important theories of international trade, while examining the welfare effects that arise from international trade and trade barriers. Moreover, the course explores the possible policy actions at the national and international levels.
Principles of Economics, Principles of Macroeconomics, Principles of Microeconomics.
1. To introduce the student in the field of International Trade.
2. To recognize the instruments for basic economic analysis within this field of economics.
3. To introduce the different theories of trade.
4. To recognize the welfare effects of policy making, especially as regards protectionism.
- 08 - To understand how leading world economies work, their institutions and interconnections.
- 10 - To identify long-term economic growth factors and understand the impact of globalisation.
- 27 - To be able to read and understand literature on economic and business issues.
- 31 - To develop the ability to identify and interpret numerical data.
- 33 - To be able to search for, interpret and convey information.
- 34 - To develop the ability to predict situations and anticipate events, as well as be able to recognise and interpret an economic situation within a specific context.
After the course the student will obtain:
- A basic knowledge of economic analysis within the field of International Trade.
- The analytical skills to reach valid conclusions.
- The scientific rigor to carry out basic analysis of economic issues.
Basic Course Content:
1. Introducing some empirical trends in International Economics
2. Introducing International Organizations
3. The Trade Models of David Ricardo and Heckscher/Ohlin
4. New Trade Theories
5. Protectionism: Tariffs, Non-Tariff Barriers
6. The Political Dimension of Trade Barriers
7. International Regulations and Standards
Conditional on time:
8. Balance of Payments and Exchange Rate Systems
9. International Financial Crises
All these subjects are covered in Ch. 1-12 of Gerber's book.
Teaching and learning activities
Presentation in the classroom of the concepts and their practical application
Classroom activities for student follow-up (individual and group)
10 27 29
Independent study of the student
11 12 27 28 29 31
Evaluation systems and criteria
Written test: 70%
Short essay and class participation: 30%
Continuous assessment grades will be ignored for the second call (retake).
Bibliography and resources
• Gerber, J., International Economics, 5th ed., 2010 (especially Ch. 1-12).
Supplementary reading material:
• Krugman, P. and Obstfeld, M., International Economics, 8th ed., 2008.
• Nicholson, W. and Snyder, C., Microeconomic Theory: Basic Principles and Extensions, 11th ed., 2012.
• Varian, H., Microeconomic Analysis, 3rd ed., 1992.
• Sachs, J. and Larrain, F., Macroeconomics in the Global Economy, 1st ed., 1993.