World Economics and International Affairs

2026/2027

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Economics

Course type:

Compulsory course

When:

3 year, 1 module

Instructor

Rudenko, Dmitry

Course Syllabus

Abstract

It is an integral component of the International Trinity curriculum, which includes courses on International Trade and International Business. This course should be regarded as a cohesive element within this curriculum, enhancing students' comprehension of international corporate relations. Designed as a comprehensive overview, this course covers key areas of international economics, including the global shifts in the world economy and the emergence of developing economies; the interconnectedness of international trade and financial flows; the balance of payments; and the nature and scope of international economic relations. It also examines the architecture of the world economy, identifies stakeholders in international economics, and explores avenues for external growth, such as the global trend toward digitalization and business activities in both product markets and markets for knowledge and technology. A significant emphasis is placed on the theoretical and methodological foundations necessary for conducting applied economic research and analyzing patterns in international economic relations. By mastering this course, students will establish a solid basis for understanding the dynamics of the world economy and the processes that shape it. Furthermore, it will enhance their proficiency in the methodologies and methods of scientific inquiry related to economic phenomena and processes.

Learning Objectives

• The course develops a framework for understanding the past and current trends in the global economy, including international trade and capital flows. The purpose of the course is to form a set of knowledge, as well as the necessary practical skills in the field of implementing international economic relations, assessing their state and development prospects.

Expected Learning Outcomes

• apply theories of regional economic development, location, and trade to the contemporary process known as globalization; consider the structure of international economic relations; explain the basis for trade, the gains from trade and effects of trade; understand global trends and the rapid changes in the world economy; acquaint open data and basic approaches to analyze the open economy, as well as comparative economic growth and development.
• compare and contrast the differences among translation, transaction, and economic exposure, and explain the implications for management practice
• explain the range of policy instruments that governments use to influence FDI

Course Contents

• 1. Global Shift and Introduction to International Economics.
• 2. Trade in the Global Economy
• 3. Foreign Direct Investments in the Global Economy
• 4. Trade and the Balance of Payments
• 5. The Foreign Exchange Market
• 6. The Global Capital Market

Assessment Elements

• Project
• Seminar activity
• Final
• Quizzes

Interim Assessment

• 2026/2027 2nd module
  0.28 * Project + 0.21 * Seminar activity + 0.3 * Final + 0.21 * Quizzes

Bibliography

Recommended Core Bibliography

• Jovana Golo. (2015). Book review: Hill, C. W. L. (2014). International Business: Competing in the Global Marketplace. https://doi.org/10.5937/ekonhor1501073G
• Major, A. (2014). Architects of Austerity : International Finance and the Politics of Growth. Stanford, California: Stanford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=713319

Recommended Additional Bibliography

• Rogoff, K. S., Helpman, E., & Gopinath, G. (2014). Handbook of International Economics. Oxford, England: North Holland. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=576373

Authors

• Brodskaia Natalia Nikolaevna