All programmes > Course: International Economics

International Economics (B-KUL-D0E44A)

6.0 ECTS Dutch 39.0 Second termSecond term Basic
Van Hove Jan (coordinator) |  De Grauwe Paul |  Van Hove Jan
POC Bachelor FEB

Aims

Please check info under 'activities'

Previous knowledge

Order of enrolment:
The following courses should be
*successfully completed: /
*taken before: Wiskundige analyse: microeconomische problemen' en 'Wiskundige analyse: macroeconomische problemen'*at least taken at the same time: /

Content

Please check info under 'activities'

Course material

Text book

Is also included in other courses

Activities

6.0 ects. International economics (B-KUL-D0E44a)

6.0 ECTS Dutch 39.0 Second termSecond term
De Grauwe Paul |  Van Hove Jan
POC Bachelor FEB

Content

PART 1: International Trade

PART 1.1: International Trade Theory
1.      Introduction
2.      World trade: an overview 
3.      The Ricardian trade model 
4.      Specific factors and income distribution 
5.      Resources and trade: the Heckscher-Ohlin model 
6.      The standard trade model 
7.      External economies of scale and the international location of production 
8.      Firms in the global economy: export decisions, outsourcing, and multinational enterprises
 
PART 1.2: International Trade Policy
9.      The Instruments of Trade Policy 
10.   The Political Economy of Trade Policy 
11.   Trade Policy in Developing Countries
12.   Controversies in Trade Policy
 
PART 2: International Financial and Monetary Economics
 
PART 2.1: Foreign Exchange Markets and Crises in the Foreign Exchange Markets (based on Krugman-Obstfeld-Melitz (2011))
1. The theory of the interest parity
2. The foreign exchange market and the money market
3. The exchange rate and the price level: theory of the purchasing power parity
4. The exchange rate and the business cycle
5. Fixed exchange rates and crises in the foreign exchange markets
 
PART 2.2: Monetary unions and the Eurozone (based on De Grauwe (2009))
6. Costs and benefits of a monetary union
7. Transition towards a monetary union
8. The European Central Bank and the Eurosystem
9. Fiscal policy in the monetary union
10. The debt crisis in the eurozone

Aims

After following this course, the student is able:
*to critically analyse economical problems that originate by the interaction of a country with the outer world: trade with other countries, boundary-crossing mobility of work and capital, supranational economical integration, inequilibrum on the current account , volatility of exchange rates and currency crises are some important examples.

Course material

Course Materials:
1. Handbook: Krugman, Paul R., Obstfeld, Maurice and Melitz, Marc (2011), International Economics: Theory and Policy, 9th Edition, Pearson.
2. Slides / documents via Toledo.

Evaluation

Evaluation: International economics (B-KUL-D2E44a)

Mode of evaluation : Written
Category : final examination during examination period
Type of evaluation : Closed book

Explanation

Determination of grades
* The grades are determined by the course lecturer(s), as announced via Toledo and the examination schedule. The result is computed and expressed as a whole number on a scale of 20.
 
Evaluation third examination period
* During an academic year, the student has 2 chances to participate to the exam: a first time during the first or second examination period, according to the scheduling of the course, and a second time during the third examination period.
* The characteristics of the evaluation of the third examination period are similar to those of the first or the second examination period.