TEACHING PLAN FOR
•
INTERNATIONAL
ECONOMICS
1. Basic description
Name of the course: International Economics
Academic year: 2014-2015
Term: First
Code: 80126
Degree / Course: International Business Program
Contact hours: 50
Number of ECTS credits: 6
Total number of hours committed: 150
Teaching language: English
Lecturers: Ramon Xifré ([email protected]) and Xavier Cuadras-Morató
([email protected])
Timetable: Tuesday,
12:45 – 15:15 h. at classroom 3.1 “MANGO”
Thursday,
12:45 – 15:15 h. at classroom 4.1, “AMEC”.
Office Hours: Prof. Xifré, Monday 15:30 – 16:30, at ESCI (3rd floor) and by
appointment
Prof. Cuadras-Morató, Thursday 15:30 – 16:30, at ESCI (1st floor) and by
appointment
2. Presentation of the course
Since markets are going global, it is relevant to understand the implications of such
scenario on consumers, entrepreneurs, and governments. It is the purpose of this course
to cover these topics, both from a theoretical and empirical point of view. Specifically,
the course is divided into two blocks. The first one focuses on international trade. The
second one addresses topics related to international macroeconomic issues.
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3. Competences to be achieved in the course
General competences
Instrumental competences
G.I.4. Ability
problems.
to
tackle
and
resolve
Generic systemic competences
G.S.5. Ability to learn on one’s own.
Competences for applicability
G.A.2. Ability to use quantitative criteria
and qualitative insights when taking
decisions.
G.A.5.
Ability
to
understand
an
economic organization with a global
perspective.
Specific competences
Disciplinary competences
E.D.2. Recognize and asses the duties
of international economic institutions
and their impact on business activity.
E.D.7
Identify
the
international
economic institutions and evaluate their
influence
on
economic
growth,
international
trade
and
financial
relations.
E.D.12. Illustrate the primary sources of
statistical economic information and
managerial information available at a
national and international level.
Professional competences
E.P.1.
Ability
to
understand
the
decisions taken by economic agents and
their interaction in the markets.
E.P.2. Ability to analyze economic and
market indicators when taking decisions
within the organization.
E.P.3. Ability to assess the changes that
occur due to various international
agreements and their effects on the
economic relations of different countries
and the companies’ activities.
E.P.4. Ability to relate and analyze
current and historical economic events
with knowledge about the economy.
E.P.23. Ability to apply and expand
upon abstract reasoning.
E.P.24.
Develop
the
ability
to
synthesize.
4. Contents
1. Globalization and trade
2. The Ricardian model
3. The Hecksher-Ohlin Model
4. Trade under Increasing Returns and Monopolistic Competition
5. Offshoring of goods and services
6. Balance of Payments
7. The Gains from Financial Globalization
8. Exchange Rates and Currency Markets
9. Exchange Rates: the Monetary Approach
10. Exchange Rates: the Asset Approach
11. Macroeconomic Policy in an Open Economy
12. The European Monetary Union
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5. Assessment
Regular Term Evaluation
The final grade will be determined by the weighted average of various continuous
evaluation activities and a final exam.
Assessment
elements
Type of
assessme
nt
Com Op
p
t
Assessment agent
Lectur
er
First
midterm
exam
X
X
Second
midterm
exam
X
X
Problem sets
X
X
Final exam
(a minimum
grade of 4 is
required)
X
X
Selfasse
ss
Type of
activity
Coasse
ss
Grouping
Ind
iv
Conceptua
l
Application
Overall
understan
ding
Conceptua
l
Application
Overall
understan
ding
Conceptua
l
Application
Overall
understan
ding
Conceptua
l
Application
Overall
understan
ding
Weig
ht
(%)
Grou
p
(#)
X
15%
X
15%
X
20%
X
50%
Sitting the final exam is a necessary condition to receive a quantitative evaluation of the
course. In case of non-attendance to the final exam, the student will receive an “N.A.”
grade for the overall course.
A minimum grade of 4 points out of 10 is required in the final exam for averaging with
the rest the of the assessment elements. In case this minimum grade is not reached, the
overall course grade will correspond to the final exam grade. A weighted grade above 5
points out of 10 is required to pass the course.
Extraordinary Evaluation
Only those students who have obtained a weighted final grade below 5 points will be
admitted to an extraordinary evaluation, according to ESCI-UPF calendar and academic
regulations. This supplementary evaluation will imply exclusively a re-take of the final
exam that will account for 50% of the grade. The grades and the weights of the other
assessment obtained during the term (two midterm exams and problem sets) will be
maintained. Therefore the overall course grade, in case of an extraordinary evaluation
will be determined as follows
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Activities done during the term (midterms and problem sets): 50 %
Final exam retake:
50 %
6. Bibliography and teaching resources
FEENSTRA, R. C. and A. M. TAYLOR International Economics. Second edition.
Articles from The Economist, Financial Times, Vox.Eu
7. Methodology
Lectures
Lectures will cover the topics of the syllabus and will address the competences to be
achieved in the course.
Problem sets
Students will be asked to solve problem sets. These assignments are designed for
practice and to further understand the topics discussed in class. Selected exercises will
be discussed in class.
Face-to-face
(in the classroom)
Directed
(outside the classroom)
Independent
(outside the classroom)
Professor:
- Lectures
- Problem set solutions
Professor:
- Prepare problem sets
Prepare
discussion
topics
Student:
- Class preparation and
readings
- Independent study
- Exam preparation
Student:
Participation
discussions
- Midterms
- Final exam
in
Student:
- Solve problem sets
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8. Tentative schedule of activities
OcWeek
Session
1st week
Lecture 1
Lecture 2
Tuesday, Sep. 23
Thursday, Sep. 25
Lecture 3
Lecture 4
Tuesday, Sep. 30
Thursday, Oct. 2
2nd
week
3rd week Lecture 5
Lecture 6
Date
Tuesday, Oct. 7
Thursday, Oct. 9
4th week Lecture 7
Lecture 8
Tuesday, Oct. 14
Thursday, Oct. 16
5th week Lecture 9
Lecture
10
Tuesday, Oct. 21
In Class
Presentation. Trade in the Global
Economy
The Ricardian Model
The Ricardian Model – Applications
The Hecksher-Ohlin Model
The Hecksher-Ohlin Model –
Applications
Incr. returns and monopolistic
competition
Offshoring of goods and services
Balance of Payments
Balance of Payments – Global
imbalances
Thursday, Oct. 23 First Midterm Exam
6th week Lecture 11 Tuesday, Oct. 28
Lecture 12 Thursday, Oct. 30
The Gains from Financial Globalization
The Gains from Financial Globalization
7th week Lecture 13 Tuesday, Nov. 4
Exchange Rates and Currency Markets
Exchange Rates: the Monetary
Approach
Lecture 14 Thursday, Nov. 6
8th week Lecture 15 Tuesday, Nov. 11
Lecture 16 Thursday, Nov. 13
9th
week
10th
week
Lecture 17 Tuesday, Nov. 18
Lecture 18 Thursday, Nov. 20
Lecture 19 Tuesday, Nov. 25
Lecture
Thursday, Nov.
20
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Exchange Rates: the Asset Approach
Macroeconomic Policy in an Open
Economy
Macroeconomic Policy in an Open
Economy
European Monetary Union
European Monetary Union
Second Midterm Exam
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