The general objective of the course is to provide the tools to understand the functioning mechanisms of the international economy, the interconnections between different economies in terms of capital flows, goods, services and people, evaluating the costs and benefits of the growing integration both for the economies of origin and for those of destination.
EXPECTED RESULTS OF LEARNING
Knowledge and understanding:
The student must be able to understand the role of comparative advantages and their impact on commercial flows
Ability to apply knowledge and understanding:
The student will be able to a) use his / her knowledge to evaluate the state of commercial relations between the main nations b) read and comment on the relationships of the main supranational bodies (WTO, IMF etc.)
Autonomy of judgment:
The student will be able to orient himself critically in the field of international business relations, being able also to acquire an independent point of view in the debate on the different commercial policies.
The modalities of the examination will oblige the student to develop a competence in expressing the key points of a problem in a concise way, consolidating important skills often requested in working contexts. The modalities with which to develop these skills will be illustrated during the course and tested in specific sessions of strengthening skills.
Basic knowledge of macroeconomics.
INTERNATIONAL TRADE (18 hours): Absolute Advantage - Comparative Advantage - Inter-Sector Trade - The Political Economy of Commerce - Analysis of Commercial Policy - International Trade Organization - Preferential Commercial Agreements. INTERNATIONAL PRODUCTION (18 hours): Entry on foreign markets and international production - Direct ether investments and international trade - International production management - Migration. INTERNATIONAL FINANCE (18 hours): Balance of payments - Exchange rates - IMF - monetary Unions. INTERNATIONAL DEVELOPMENT (18 hours): Development concepts - Growth and development - International production and development - The World Bank - Structural change and adjustment.
The course will be organized in 3 weekly lessons (for a total of 9 weeks). During the course there will be exam simulations that can also contribute to the final evaluation.
Reinert, K. E. Economia Internazionale, Il Mulino; cap. 1 – 24 (An Introduction to International Economics - CUP - all chapters)
The exam will be structured in a compulsory written test in which the students will have to answer three open-ended questions, demonstrating that they have understood the fundamental causes, the policy implications and the logical connections relevant to each topic. The written test lasts 45 minutes and the questions usually are taken from the paragraphs of the textbooks. During the course some exam simulations will be held, which could also contribute to the final grade.