International Economics

The aim of the subject is to acknowledge students with the characteristic of theoretical questions, methods of the analysis of international economics. The course consists of the fundamentals of trade theory and its application to policy. In this course students should acquire capacities to analyse and estimate contemporary challenges of international economics. Main topics: the classical and contemporary theories on international trade and international investment, money’s role in foreign trade, factors predetermining international economic relations for national companies, forms of international markets; investment and production in foreign countries and activities based on the contracts. The course includes lectures, analysis of problematic examples, case studies, collective student work when preparing collective homeworks.

Help students to understand the nature of international economics, its characteristics and structure, policy forms and methods of the present conditions, using examples of practical application of theories and analysis of the situation. In this course, students should acquire capacities to analyse and estimate contemporary challenges of international economics.

Microeconomics, macroeoconomics

1. Assumptions and terms of international trade. 2. International trade theories: the classical theory of international trade; the Heckscher-Ohlin theory of international trade. 3. Alternative theories of international trade. 4. International trade policies. 5. International trade policy: tariff methods of international trade regulation; customs system, its economic content and elements; non-tariff methods of international trade regulation. 6. Fair trade. 7. The economic integration process. Customs union theory. 8. Currency market and exchange rate; what determines the exchange rate? Selection of exchange rate regime. 9. The factors of production: international capital movement and migration. The international financial crisis. Transnational corporations. 10. Regulation methods of international economics. 11. Regional trade organizations. WTO. EU trade policy. 12. International economic policy.

The student recognizes and is able to describe the contribution of at least half of theories of international trade to the international economy The student recognizes and evaluates the concept of the customs system, its economic content and elements, and international trade agreements on at least half of the issues formulated for analysis The student recognizes and analyzes the processes of international economics and their regulatory methods on at least half of the questions formulated for the analysis The student recognizes and evaluates exchange rate regimes and EU monetary union on at least half of the questions formulated for analysis The student, together with other members of the working group, prepares written assignments and individual tasks that meet at least half of the set requirements. The student is able to formulate his / her opinion and answer simple questions about his / her chosen topic The student works with other members of the work group, communicates with them and takes responsibility for their personal results.