General information

Subject type: Mandatory

Coordinator: Monica Juliana Oviedo León

Trimester: Second term

Credits: 4

Teaching staff: 

Monica Juliana Oviedo León

Teaching languages

  • Spanish
  • English
  • Catalan

Check the schedules of the different groups to know the language of teaching classes. Although the material can be in any of the three languages.


Basic skills
  • B3_Students have the ability to gather and interpret relevant data (usually within their area of ​​study), to make judgments that include reflection on relevant social, scientific or ethical issues


  • B5_That students have developed those learning skills necessary to undertake further studies with a high degree of autonomy


Specific skills
  • E1_Interpret basic economic concepts and economic reasoning, as well as microeconomic and macroeconomic functioning


General competencies
  • G1_ Be able to work in a team, actively participating in tasks and negotiating dissenting opinions to reach consensus positions, thus acquiring the ability to learn together with other team members and create new knowledge

Transversal competences
  • Communicate properly orally and in writing in the two official languages ​​of Catalonia

  • T2_Show willingness to learn about new cultures, experiment with new methodologies and encourage international exchange


  • T5_Develop tasks applying, with flexibility and creativity, the knowledge acquired and adapting it to new contexts and situations



The aim of the course is to provide an insight into the functioning of the open economy in international markets. The most relevant aspects associated with international trade and finance and economic integration processes are introduced in order for the student to acquire a rigorous and up-to-date view of the main problems and prospects of the world economy.

Learning outcomes

Analysis of the current dynamics of international economic relations from the perspective of innovative patterns. Globalization marks a new world order that summarizes or adds a whole set of different global trends, which will be studied as a phenomenon or set of essentially technical-economic processes. It also studies the main drivers that can bring innovation in an increasingly competitive international environment.

Master the mathematical and statistical aspects of economic and / or business problems for decision making.

Working methodology

Theoretical sessions

MD1. Master class: Expository class sessions based on the teacher's explanation attended by all students enrolled in the subject.

MD3. Presentations: Multimedia formats that support face-to-face classes.

Autonomous learning

MD9. Solving exercises and problems: Non-contact activity dedicated to the resolution of practical exercises based on the data provided by the teacher.

MD10. Research and critical reading of articles: Students start from a working hypothesis that they are developing, following the fairies of the research methodology, including the critical reading of articles.

MD11. Non-contact tutorials: for which the student will have telematic resources such as e-mail and ESCSET intranet resources.

 The classroom (physical or virtual) is a safe space, free of sexist, racist, homophobic, transphobic and discriminatory attitudes, either towards students or teachers. We trust that together we can create a safe space where we can make mistakes and learn without having to suffer the prejudices of others.


Part 1: Macroeconomics of an open economy and foreign exchange markets

  • National accounts and balance of payments.
  • Exchange rates and foreign exchange markets.
  • Domestic production and exchange rates.
  • Fixed exchange rates and intervention in the foreign exchange market.

Part 2: Theory of international trade

  • Ricardo's model.
  • Specific factors and income distribution.
  • Heckscher-Ohlin model.
  • The Standard Business Model.

Part 3: Multinational companies

  • External economies of scale and outsorcing.
  • Specialized markets.
  • Export decisions and external contracting - internationalization.
  • Non-competitive market structures and the phenomenon of internalization.

Part 4: International Trade Policy

  • The instruments of international trade policy.
  • The political economy of trade policy.
  • Controversies over trade policies.



Learning activities

Proper follow-up of a student's course generally involves the following stages:

  1. Attendance at school sessions

Class attendance is mandatory, although all teaching materials will be provided through Moodle and the required textbook. However, class attendance is not part of the assessment and does not influence the final grade of the subject. It should be noted that the student who does not participate in the classes is faced with a very important volume of teaching material and therefore may have significant difficulties in understanding all this material by studying it alone.

       b. Individual work

The learning of the subject involves the study of the material explained in each session, the realization of practical works and the participation in workshops and seminars aimed at reading, commenting and critical discussion of cases, reports, videos, presentations and articles of character. economic. In any case, the syllabus hung in the virtual classroom (Moodle) explains in detail all the course content.

Evaluation system

The evaluation consists of three parts:

  • SE1 Participation in activities proposed in the classroom:
    • Online tests at the end of each topic (10%)
  • SE2 Working in groups (30%)
  • SE4 Exam (60%)
    • The exam will be done in two parts, each with a weight of 30%. The first part at the end of unit 2 and the second part at the end of unit 4. It is necessary to pass both parts of the exam (minimum 5 out of 10). If he does not pass the first part, the student can retake this part of the exam in the second part. If the second partial exam is suspended, the recovery is of all the content of the subject.

Students will be required to pass each of the three parts of the course separately to pass the entire course (minimum grade of 5 out of 10 on each assessment item).


Students who have failed the exam will be entitled to recovery. Only the final exam and not the other two parts of the continuous assessment can be retaken. The retake exam examines the entire subject.

A student who has not taken both parts of the exam may NOT take the retake.



KRUGMAN P., OBSTFELD M., MELITZ M. (2012) “International Economics”, 9th Edition, Pearson Education.

Krugman, Paul; OBSTFELD, Maurice; MELITZ, Marc (2020). International Economics: Theory and Policy. (Or any other edition)


CORE (2021) The Nation and the World Economy. Chapter 18 of the online book "The Economy"by the CORE Project (also available in Spanish).

WTO and UNCTAD (2012) "A Practical Guide to Trade Policy Analysis". World Trade Organization and United Nations Conference on Trade and Development. Available on their websites:;

PUGEL, Thomas (2015) "International Economics". McGraw-Hill Education; Edition 16.

AUBOIN, Marc; RUTA, Michele. The relationship between exchange rates and international trade: a literature review. World Trade Review, 2013, vol. 12, No. 3, p. 577-605.