Salta al contenuto principale della pagina

INTERNATIONAL ECONOMICS

CODE 73599
ACADEMIC YEAR 2022/2023
CREDITS
  • 10 cfu during the 3nd year of 8768 SCIENZE INTERNAZIONALI E DIPLOMATICHE (L-36) - GENOVA
  • SCIENTIFIC DISCIPLINARY SECTOR SECS-P/01
    LANGUAGE Italian
    TEACHING LOCATION
  • GENOVA
  • SEMESTER 1° Semester
    PREREQUISITES
    Prerequisites
    You can take the exam for this unit if you passed the following exam(s):
    • International and Diplomatic Sciences 8768 (coorte 2020/2021)
    • MACROECONOMICS 57133
    TEACHING MATERIALS AULAWEB

    OVERVIEW

    The International Economics Program provides students with a firm grasp of the theory and tools of economics, finance, and the functioning of the international economic system. These skills are an important component of modern training in international affairs. In addition, the advanced courses in the program can be used to prepare interested students for a variety of careers in international economic and financial analysis as well as in business.
     

    AIMS AND CONTENT

    LEARNING OUTCOMES

    This course provides an analysis of the economic relationships between countries, covering both trade and monetary issues.

    AIMS AND LEARNING OUTCOMES

    The course is aimed at providing students that did not take International Economics in the First-cycle degree/Bachelor with some basic theoretical tools. In the part of the course devoted to international trade the focus is on what are the reasons explaining trade patterns among countries and what are the gains from trade. The most important instruments of trade policy are analyzed, and the costs and benefits of protectionist trade policies are assessed. Moreover, multinational enterprises organizational and production choices are explained, in order to understand their functioning. In the part of the course devoted to international monetary economics, the focus is on the mechanisms that determine the exchange rate between currencies, and on the relationship between exchange rates, money supply and interest rates.

    PREREQUISITES

    Microecomomics and Macroeconmics.

    TEACHING METHODS

    lectures and exercises

    SYLLABUS/CONTENT

    The general traditional model. Overview. The general traditional model: assumptions; autarkic equilibrium; free-trade equilibrium; gains from trade in consumption and production; the direction of trade; the excess demand curve (net imports).

    The Ricardian model. The concept of opportunity-cost. The Ricardian model of trade: assumptions: the linear production possibility frontier; definition of autarkic equilibrium; the free-trade equilibrium; the excess demand curve in the Ricardian model; gains from trade.

    The Heckscher-Ohlin model. Overview. The model: assumptions; production in a small open economy; factor prices and commodity prices; the Stolper-Samuelson theorem; international equilbrium; integrated equilibrium; the theorem of equalization of factors prices; the Rybczynski theorem; the Heckscher-Ohlin theorem; international trade and income distribution.

    Models with increasing returns to scale and imperfect competition. Determinants of international trade in the new theories. Market power. Pro-competitive effect (Markusen). Selection effect. Variety effect (Dixit and Norman).

    Trade policy. Efficiency and equity. What is protectionism in trade? Protectionism in trade: demand, supply and trade with a single industry; the effect of an import tariff - the case of a small economy; the effect of an export subsidy - the case of a small economy.

    Trade policy: arguments in favor of protectionism. Overview. Traditional arguments in favor of protectionism: the argument of a big economy (effect on the terms of trade); the argument of the infant industry; the argument of increasing returns to scale; the argument of internal market distortions.

    Multinational enterprises and Foreign Direct Investment. Definitions. Stylized facts. Advantages (and disadvantages) of multinationals. Location choice: horizontal and vertical FDI. Internalization choice: outsourcing and licensing.

    Exchange Rates and the Foreign Exchange Market: An Asset Approach 

    Money, Interest Rates, and Exchange Rates 

    Price Levels and the Exchange Rate in the Long Run


     

    RECOMMENDED READING/BIBLIOGRAPHY

    Feenstra R.C e Taylor A.M. (2009), Economia Internazionale, Milano Hoepli 2009.

    Pittaluga G.B., Economia Monetaria, Milano Hoepli ultima edizione.

     E Seghezza, L'evoluzione del sistema monetario internazionale. Il ruolo della domanda di innovazioni e della produzione di fiducia, Rubettino Univeristà.

    TEACHERS AND EXAM BOARD

    Exam Board

    ELENA SEGHEZZA (President)

    GIOVANNI BATTISTA PITTALUGA

    LESSONS

    LESSONS START

    I semester. In the week starting September 12

    EXAMS

    EXAM DESCRIPTION

    Written and oral exam

    ASSESSMENT METHODS

    Frontal lessons

    Exam schedule

    Date Time Location Type Notes
    20/12/2022 12:30 GENOVA Orale
    17/01/2023 12:30 GENOVA Scritto
    17/01/2023 12:30 GENOVA Orale
    01/02/2023 12:30 GENOVA Scritto
    13/06/2023 12:30 GENOVA Scritto
    11/07/2023 12:30 GENOVA Orale
    13/09/2023 12:30 GENOVA Orale

    FURTHER INFORMATION

    Periodically consult the aula web