World Economy and International Trade

2017/2018

Academic Year

ENG

Instruction in English

6

ECTS credits

Delivered at:

Department of Economics

Course type:

Compulsory course

When:

2 year, 3, 4 module

Instructors

Evstafiev, Dmitry

Kuga, Iakov T.

Telekhov, Ignaty I.

Course Syllabus

Abstract

The course develops a framework for understanding the past and current trends in the global economy, including international trade, capital flows and migration. A special attention is devoted to global problems identification. Topics covered in the course demonstrate the facts related to both classical and modern theories of international trade in goods and services, as well as empirical research on trade. A substantial fraction of the course is dedicated to examination of efficient trade policies.

Learning Objectives

• will acquaint open data and basic approaches to analyze the open economy, as well as comparative economic growth and development

Expected Learning Outcomes

• will be able to understand global trends and the rapid changes in the world economy
• identify the global problems; consider the structure of international economic relations
• explain the basis for trade, the gains from trade and effects of trade
• apply theories of regional economic development, location, and trade to the contemporary process known as globalization

Course Contents

• Introduction: What in the World Is Going On?
• Trade, migration and capital flows in the Global Economy
• Basic economic indicators of the global economy
• The Centre of Gravity Shifts: Transforming the Geographies of the Global Economy
• Technological Change: ‘Gales of Creative Destruction’
• Transnational Corporations: The Primary ‘Movers and Shapers’ of the Global Economy
• Destroying Value? Environmental Impacts of Global Production Networks
• Winning and Losing: Where You Live Really Matters
• Making the World a Better Place
• Ricardian theory of comparative advantage
• Hecksher-Ohlin theory
• Movement of Labor and Capital between Countries
• Increasing Returns to Scale and Monopolistic Competition
• International trade policy
• Macroeconomic analysis of international trade

Assessment Elements

• activities in class
• test
• home task
• exam

Interim Assessment

• Interim assessment (4 module)
  0.1 * activities in class + 0.4 * exam + 0.2 * home task + 0.3 * test

Bibliography

Recommended Core Bibliography

• Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2015). International Economics: Theory and Policy, Global Edition (Vol. Tenth edition, global edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1419045

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