Learning Objectives

Students learn to competently deal with the theory of international trade and economic development, to critically assess both classical and more recent approaches, to confront theoretical hypotheses with the empirical evidence, and to apply their insights and findings in discussions about economic policy issues. 

Content 

The module covers central methods and concepts in the field of international trade and international macroeconomics

 International Trade: Determinants of trade flows, the effects of trade on welfare and the income distribution, firms in international trade

 Open economy accounting, characteristics of the foreign exchange market, exchange rate determination, fixed exchange rate regimes.

 Development and Growth: Growth and development, finance and development, determinants of growth, the role of capital and human capital, natural resources, institutions and development, development cooperation.

Literature

Gregory Mankiw and Mark Taylor, Economics, South Western Cengage Learning, 2011

Feenstra, R. (2004): Advanced International Trade, Princeton University Press.
Feenstra, R. and M. Taylor (2015): International Economics, 3rd edition, Worth Publishers.
Helpman, E. (2011): Understanding Global Trade, Cambridge MA and London (The Belknap Press of Harvard University Press).
Krugman, P. , M. Obstfeld and M. Mélitz (2014): International Economics – Theory and Policy, 10th edition, Boston (Addison Wesley)
Weil, D. (2012): Economic Growth, 3rd edition, Pearson.