TecnoCampus Foundation
eCampus
University Business
eCampus

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General information

Subject type: Mandatory

Coordinator: Enric Camón Luis

Trimester: Third term

Credits: 4

Teaching staff: 

Ismael Hernández Adell

Academic year: 2025

Teaching course: 2

Languages ​​of instruction

  • Catalan

Check the schedules of the different groups to find out the language of instruction, although the material can be in any of the three languages.

Competencies / Learning Outcomes

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

  • T1_Communicate properly orally and in writing in the 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

     

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.

Part 2: Classic and modern theories of international trade

  • Ricardo's model.
  • Heckscher-Ohlin model.
  • The Standard Business Model.

Part 3: New theories of commerce: Economies of Scale

  • External economies of scale: industrial clusters
  • Internal economies of scale: non-competitive and multinational market structures
  • Export and outsourcing decisions: internationalization, outsourcing 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 (AC, 50%)
  Activities to be done in class or outside of class at the end of each topic. Some activities will require mandatory attendance. None of these activities can be made up after the established deadline.

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

Final note

  • If the final exam grade ≥5: Final grade = 50% AC Average + 50% EX
  • If the final exam grade <5: Final grade = Final exam grade

Recovery:
Only students who have failed the exam will be entitled to retake. Continuous assessment is not retaken. The entire subject is examined in the retake exam.

A student who has not taken the final exam cannot take the retake.

After the recovery exam (ER):

  • If the grade of the retake exam ≥5: Final grade = 50% AC Average + 50% ER
  • If the grade of the retake exam <5: Final grade = Retake exam grade 

Any form of academic fraud will be sanctioned in accordance with the center's assessment regulations. If signs of fraud are detected, including the improper use of generative artificial intelligence tools, the subject's teaching staff may call the student for an individual interview with the aim of verifying their authorship.

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 Econ (2025) Macroeconomic Policy in the Global Economy. Chapter 7 of the online book The Economy 2.0 Macroeconomics, by the CORE Project. 

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