TecnoCampus Foundation
eCampus
University Business
eCampus

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General information

Subject type: Mandatory

Coordinator: Judith Turrión Prats

Trimester: First term

Credits: 4

Teaching staff: 

Judith Turrión Prats

Academic year: 2024

Teaching course: 4

Languages ​​of instruction

  • Catalan

Competencies / Learning Outcomes

Basic skills

  • CB3. That 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.

  • CB5. That students have developed those learning skills necessary to undertake further studies with a high degree of autonomy.

Specific skills

  • CE1. Interpret basic economic concepts and economic reasoning, as well as microeconomic and macroeconomic functioning.

General competencies

  • CG1. Be able to work in a team, actively participate in tasks and negotiate in the face of dissenting opinions until reaching consensus positions, thus acquiring the ability to learn together with other team members and create new knowledge.

Transversal competences

  • CT1. Communicate properly orally and in writing in the two official languages ​​of Catalonia.

  • CT2. Show willingness to learn about new cultures, experiment with new methodologies and encourage international exchange.

  • CT3. Formulate critical and well-argued reasoning, using precise terminology, specialized resources and documentation to support these arguments.

  • CT4. Demonstrate entrepreneurial leadership and leadership skills that build personal confidence and reduce risk aversion.

  • CT5. Master the main applications of computer tools and new technologies for ordinary academic activity.

  • CT6. Carry out tasks autonomously with the correct organization and timing of academic work.

  • CT7. Develop the ability to assess inequalities due to sex and gender to design solutions.

Presentation of the subject

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.

Contents

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.

 

 

Activities and evaluation system

The assessment consists of two parts:

• Continuous assessment (50%)
  Activities to do in class at the end of each topic. To deliver them, attendance is mandatory and they cannot be recovered.

• Final exam (50%).
  The whole subject is examined. To pass, it is necessary to have at least 5 out of 10 in this exam.

Recovery:
Only students who have failed the exam will have the right to retake it. The continuous evaluation is not recoverable. In the examination of
recovery the entire subject is examined. A student who has not taken the final exam CANNOT take the retake.

 

Bibliography

Basic

Krugman, Paul; OBSTFELD, Maurice; MELITZ, Marc (2022) International Economics: Theory and Policy, 12th Global Edition, Pearson Education. (There is a version in Spanish, the last edition of 2016). 

Complementary

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

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

PUGEL, Thomas (2020) "International Economics". McGraw-Hill Education; 17th Edition.

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 website: https://www.wto.org/english/res_e/publications_e/practical_guide12_e.htm