INTERNATIONAL ECONOMICS II
- Course
- ECON354 - INTERNATIONAL ECONOMICS II
- Department
- Economics - English - Undergraduate
- Course Type
- Course
- Status
- Required
- Language
- English
- Credit
- 3
- ECTS
- 6
- T+P+L
- 3 + 0 + 0
- Course Coordinator(s)
- -
- Prerequisite
- -
- Keywords
Course Description
The objective of this course is to provide students with a comprehensive understanding of key concepts and frameworks in international economics. It aims to deepen students' grasp of international trade theory, including the gains from trade, comparative advantage, and the effects of trade policy instruments such as tariffs and quotas. Students will also develop a solid foundation in national income accounting and the balance of payments, enabling them to analyze a country's economic transactions with the rest of the world. The course explores the dynamics of exchange rates, examining how they are determined and how they interact with money markets and interest rates. It further covers the relationship between price levels and exchange rates in the long run, and the impact of exchange rates on output and economic activity in the short run. In addition, students will gain a deeper understanding of the international monetary system, its evolution, and current issues, preparing them for informed analysis of global economic events and policy debates.
INTERNATIONAL ECONOMICS II
Evaluation Tools (Active Term)
No evaluation items have been defined.
Course outcomes
No course outcomes have been defined yet.
Course Syllabus
| Week | Topic |
|---|---|
| Week 1 | Introduction |
| Week 2 | World Trade: An Overview |
| Week 3 | Labour Productivity and Comparative Advantage: The Ricardian Model |
| Week 4 | Labour Productivity and Comparative Advantage: The Ricardian Model |
| Week 5 | Resources, Comparative Advantage and Income Distribution |
| Week 6 | Resources, Comparative Advantage and Income Distribution |
| Week 7 | The Standard Trade Model |
| Week 8 | Midterm Exam |
| Week 9 | The Standard Trade Model |
| Week 10 | The Standard Trade Model (cont.) |
| Week 11 | National Income Accounting and the Balance of Payments |
| Week 12 | National Income Accounting and the Balance of Payments (cont.) |
| Week 13 | Exchage Rates and Open-Economy Macroeconomics |
| Week 14 | Exchage Rates and Open-Economy Macroeconomics (cont.) |
| Week 15 | Exchage Rates and Open-Economy Macroeconomics (cont.) |
Reference Books & Course Materials
- 01 1. Paul R. Krugman and Maurice Obstfeld, International Economics: Theory and Policy, 10th Edition, Pearson, 2017.
- 02 2. Dominick Salvatore, International Economics, 11th Edition, John Wiley & Sons Inc., 2013.
Learning Outcomes
No learning outcomes have been defined.
Program Outcomes
- P01 1. Gained the necessary skills to learn and adopt a spirit of continuous learning in their professional life.
- P02 2. Developed various skills by working independently via specific learned techniques that both triggered individual efforts and encouraged collaborative work.
- P03 3. Acquired the essential knowledge and skills to apply key theories, models and applications within the global business context.
- P04 4. Adopted and applied critical and strategic thinking together with research capabilities for efficient and effective business decisions.
- P05 5. Utilized and managed ethically information technologies required for contemporary business world.
- P06 6. Been equipped with conceptual and analytical skills necessary for team work within global organizations.
- P07 7. Displayed their learnt communication skills that are required to effectively interact in a cross cultural and diverse international work environment.
- P08 8. Applied their acquired knowledge within the changing work environment.
- P09 9. Developed an understanding of ethical perspectives and social responsibilities to be used at work and in personal life.
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