General information

Subject type: Mandatory

Coordinator: Núria Masferrer Llabinés

Trimester: Second term

Credits: 4

Teaching staff: 

Monica Juliana Oviedo León
Ivette Fuentes Molina 

Teaching languages

  • Catalan
  • Spanish
  • English

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 until reaching consensus positions, thus acquiring the ability to learn together with other team members and create new knowledge

Transversal competences
  • 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


  • T1_Communicate properly orally and in writing in the official languages ​​of Catalonia


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.

This subject has methodological and digital resources to make possible its continuity in non-contact mode in the case of being necessary for reasons related to the Covid-19. In this way, the achievement of the same knowledge and skills that are specified in this teaching plan will be ensured.

The Tecnocampus will make available to teachers and students the digital tools needed to carry out the course, as well as guides and recommendations that facilitate adaptation to the non-contact mode.


Part 1: Theory of international trade

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

Part 2: 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 3: International Trade Policy

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

Part 4: 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.


Learning activities

In chronological terms, the appropriate 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. macroeconomic. 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: virtual tests at the end of each topic (10%)
  • SE2 Working in groups (30%)
  • SE4 Final exam (60%). 

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 subject will be entitled to retake the final exam. Only the final exam and not the other two parts of the continuous assessment can be retaken.

A student who has not applied for the first call CANNOT apply for recovery.



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


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.

FRANCOIS, Joseph; PINDYUK, Olga. Consolidated Data on International Trade in Services v8. 9. IIDE Discussion Paper 20130101, 2013.

SKJÆRSETH, Jon Birger; WETTESTAD, Jørgen. EU emissions trading: initiation, decision-making and implementation. Routledge, 2016.

ELLERMAN, A. Denny; BUCHNER, Barbara K. The European Union emissions trading scheme: origins, allocation, and early results. Review of environmental economics and policy, 2007, vol. 1, No. 1, p. 66-87.

FUSS, Sabine, et al. A framework for assessing the performance of cap-and-trade systems: Insights from the European union emissions trading system. Review of Environmental Economics and Policy, 2018, vol. 12, No. 2, p. 220-241.