OVERVIEW

The course will provide the instruments and the capabilities needed to analyse international economic relations, international trade, the processes of economic globalization, and economic policy interventions in foreign relations. The aim of the course is to discuss the basic concepts and their applications, as well as the theoretical formalizations, in order to provide a comprehensible and updated analytical context to interpret real-world phenomena. The evolution of international economic theory is therefore constantly related to data and empirical evidence, as well as to issues of economic policy.

AIMS AND CONTENT

LEARNING OUTCOMES

The course aims to present the fundamentals of international economics theories, providing students with the theoretical and analytical tools necessary to understand the dynamics of international trade, evaluate the effects of trade policies, and analyze issues related to exchange rates and monetary aspects. 

AIMS AND LEARNING OUTCOMES

On completion of the course, students will be able to understand the relevant models of international trade, identify differences based on the underlying assumptions, and comprehend the distributive effects at the country, sector, or specific factor of production level. They will also be able to understand trade policy strategies, theories in support of free trade, and those advocating for restrictions on free trade. Furthermore, students will be able to understand popular articles, specialized press, and reports from international organizations analyzing trade measures adopted by different countries. In conclusion, students will be able to analyze the most significant phenomena in international trade, equipped with an adequate understanding of the main economic and political forces that drive the current process of globalization. Knowledge of international markets and an understanding of related phenomena will be valuable for facilitating both graduates' entry into the labor market (e.g., in international companies or organizations) and their continued studies in a master's program in economics or related fields.

PREREQUISITES

Students are recommended to have attended first the courses of Microeconomics and Macroeconomics.

TEACHING METHODS

The course is given through frontal lectures and, eventually, seminars. The course will also cover case studies aimed at reinforcing the students' knowledge, showing the impact on the real world, and providing important elements of the historical background. 

Students who have valid certification of physical or learning disabilities  and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with the instructor and with Professor Serena Scotto (scotto@economia.unige.it), the Department's disability liaison.

SYLLABUS/CONTENT

The course aims at providing students with a firm grasp of the theories of international trade and the theoretical tools required to interpret international economic relations in a context of globalization. In particular, the course covers the following topics:

Part One
Theory and Policy of International Trade
The historical evolution of international trade
International trade and technology: the Ricardian model
Trade and resources: the Heckscher–Ohlin model
International mobility of labor and capital
Increasing returns to scale and imperfect competition
Tariffs and import quotas under perfect and imperfect competition
Export subsidies
International trade agreements

Part Two
International Monetary Economics
The use of money in international transactions
The evolution of the international monetary system
The equilibrium exchange rate
Exchange rate arrangements
Currency crises
The European Monetary Union

RECOMMENDED READING/BIBLIOGRAPHY

The textbook is the following:
Giuseppe De Arcangelis (2024), Economia Internazionale, MacGraw-Hill.
Further teaching material provided during the lectures.

The program of the course is the same for attending and non-attending students.

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

Lectures will be given in the first semester.

Class schedule
The timetable for this course is available here: Portale EasyAcademy

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

Regarding the established educational objectives, the assessment of students' knowledge acquisition will be conducted through a written exam, which might replace all or part of an oral exam.
Any changes will be announced on Aulaweb.

ASSESSMENT METHODS

The written (and eventually the oral) exam to assess the student's actual knowledge and acquisition of the basic theoretical concepts addressed during the course. Through general theoretical questions, it will be verified whether the student is able to:
- identifying and defining economic concepts using the appropriate technical language;
- reasoning in an independent manner by using the conceptual models studied during the course.
In general, students should demonstrate that they understood the importance and the meaning of the various topics covered by discussing in-depth the relevant modeling frameworks.

FURTHER INFORMATION

The program of the course is the same for attending and non-attending students.
Any additional information will be provided during lectures and on Aulaweb.