International Economics
Code: 102143 ECTS Credits: 6| Degree | Type | Year | Semester |
|---|---|---|---|
| 2501231 Accounting and Finance | OB | 1 | 2 |
| 2501232 Business and Information Technology | OB | 1 | 2 |
Contact
- Name:
- Jordi Rosell Foxa
- Email:
- Jordi.Rosell@uab.cat
Use of Languages
- Principal working language:
- catalan (cat)
- Some groups entirely in English:
- Yes
- Some groups entirely in Catalan:
- Yes
- Some groups entirely in Spanish:
- Yes
Teachers
- Jaime Amoroso Miranda
- Ferran Brunet Cid
- Angel Luis Lopez Rodriguez
- Sebastian Cano Berlanga
Prerequisites
The knowledge resulting from having completed the course "Introduction to Economics", i.e, an understanding of the basics of the economy and a knowledge of the main features of the evolution of the world economy and international relations.
Objectives and Contextualisation
- Learn the main concepts necessary to understand and analyze international economic relations;
- Introduce the problems that both businesses and governments stemming from international economic relations;
- To know the most important theoretical approaches to international economic transactions especially with regard to international trade and the policies that are derived;
- Provide a current view (empirical and theoretical) of the processes of international economic integration.
- Introduce the study of international economic institutions, objectives, powers and functioning.
From these formative elements, students should have a basic understanding of the main elements that shape international economic relations, their dynamics and regulation as well as the implications for the activities of both companies and for the policies of the governments in a world where global growth.
Competences
- Accounting and Finance
- Analysing, summarising and assessing information.
- Communicating in oral and written form in Catalan, Spanish and English, in order to be able to summarise and present the carried out project in both forms.
- Demonstrating a comprehension of the determinants of economic growth and the international differences of capita income.
- Identifying the forces governing supply and demand in order to discuss the profits resulting from trade and exchange.
- Students must be able to adapt to changing environments.
- Business and Information Technology
- Demonstrating a sensibility towards social and environmental issues.
- Interpret the factors determining the recent development of the Spanish economy in the context of the processes of economic and monetary integration in Europe.
- Interpret the theories, institutions and regulation of international trade and international economic relations in order to understand the economic globalisation process.
Learning Outcomes
- Analysing, summarising and assessing information.
- Applying the economic analysis to the integration processes, in general, and to the European integration in particular.
- Communicating in oral and written form in Catalan, Spanish and English, in order to be able to summarise and present the carried out project in both forms.
- Demonstrating a sensibility towards social and environmental issues.
- Describing the economic facts of the contemporary world and the actual configuration of global economy.
- Interpret the causes of international factor movements.
- Interpret the factors determining international trade patterns, monetary relations and companies' competitiveness.
- Naming the international movements of factors and analysing the corresponding markets.
- Students must be able to adapt to changing environments.
Content
The course is divided into three sections:
- Tools in applied economics;
- International Trade;
- International monetary relations:
The section "Tools in applied economics" covers the following topics:
- The balance of payments and external balance:
- International trade and its indicators;
The section "International Trade" covers the following topics:
- International trade theories and their implications in terms of trade policy;
- Tools for trade policy and their effects;
- The trade multilateralism and the role of the World Trade Organization;
- Economic integration and its modalities;
The section "International monetary relations" covers the following topics:
- The exchange rate and currency risk
- The basics of currency trading
- The purchasing power parity
- Public interventions in the foreign exchange market: exchange rate systems
- The international monetary system
Methodology
- The teaching is planned to be face-to-face.
- The proposed teaching methodology may undergo some modification depending on the restrictions on attendance imposed by the health authorities.
Lectures (directed activity)
Hours: 33 hours
Lectures with ICT support.
The full professor of the group will teach contents related to the following topics:
- International trade;
- International monetary relations;
- International movements of factors.
In these lectures the professor will explain the concepts, issues and theoretical approaches of each of the above sections.
The teacher will provide guidance on literature and material available to consolidate and expand knowledge.
Practical classes (directed activity)
Hours: 13 hours
Statement, analysis and resolution of problems in the classroom
These sessions should develop problems related to the following topics:
- Major economic aggregates;
- The balance of payments and its sub-items or balances;
- Indicators of balance and imbalance in the balance of payments;
- The main indicators related to foreign trade;
- The series of exchange rates;
- Exchange rates, prices and competitiveness: real exchange rate and the effective exchange rate (real and nominal exchange rates)
- International reserves: volume and composition
- Indicators related to the international monetary system
- Indicators related to international movement of factors
Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.
Activities
| Title | Hours | ECTS | Learning Outcomes |
|---|---|---|---|
| Type: Directed | |||
| Practices | 17 | 0.68 | 1, 3 |
| Theory class | 32.5 | 1.3 | 8, 5 |
| Type: Supervised | |||
| Tutorials | 10 | 0.4 | 1, 8, 5, 9, 3 |
| Type: Autonomous | |||
| Collection and processing of information for practical exercises | 20 | 0.8 | 1 |
| Study, reading the material that was delivered | 67 | 2.68 | 1, 8, 5, 9, 3 |
Assessment
The assessment of learning will be through:
- 30%: a first partial (written) exam;
- 20%: Learning activities proposed by the faculty (problem sets, reports, or others)
- 50%: a second partial (written) exam that covers the contents of the course not evaluated in the first partial exam
If the student's grade is 5 or higher, the student passes the course and it cannot be subject to further evaluation. If the student grade is less than 3.5, the student will have to repeat the course the following year. Students who have obtained a grade that is equal to or greater than 3.5 and less than 5 can take a second chance exam. The lecturers will decide the type of the second chance exam. When the second exam grade is greater than 5, the final grade will be a PASS with a maximum numerical grade of 5. When the second exam grade is less than 5, the final grade will be a FAIL with a numerical grade equal to the grade achieved in the course grade (not the second chance exam grade).
A student who does not perform any evaluative task is considered “not evaluable”, therefore, a student who performs a continuous assessment component can no longer be qualified with a "not evaluable".
Calendar of evaluation activities
The dates of the evaluation activities (midterm exams, exercises in the classroom, assignments, ...) will be announced well in advance during the semester.
The date of the final exam, which corresponds to the second partial exam, is scheduled in the assessment calendar of the Faculty.
"The dates of evaluation activities cannotbe modified, unless there is an exceptional and duly justified reason why an evaluation activity cannot be carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will be scheduled within the same academic period to make up for the missed evaluation activity." Section 1 of Article 115. Calendar of evaluation activities (Academic Regulations UAB). Students of the Faculty of Economics and Business, who in accordance with the previous paragraph need to change an evaluation activity date must process the request by filling out an Application for exams' reschedule https://eformularis.uab.cat/group/deganat_feie/application-for-exams-reschedule
Grade revision process
After all grading activities have ended, students will be informed of the date and way in which the course grades will be published. Students will be also be informed of the procedure, place, date and time of grade revision following University regulations.
Retake Process
"To be eligible to participate in the retake process, it is required for students to have been previously been evaluated for at least two thirds of the total evaluation activities of the subject." Section 3 of Article 112 ter. The recovery (UAB Academic Regulations). Additionally, it is required that the student to have achieved an average grade of the subject between 3.5 and 4.9.
The date of the retake exam will be posted in the calendar of evaluation activities of the Faculty. Students who take this exam and pass, will get a grade of 5 for the subject. If the student does not pass the retake, the grade will remain unchanged, and hence, student will fail the course.
Irregularities inevaluationactivities
In spite of other disciplinary measures deemed appropriate, and in accordance with current academic regulations, "in the case that the student makes any irregularity that could lead to a significant variation in the grade of an evaluation activity, it will be graded with a 0, regardless of the disciplinary process that can be instructed. In case of various irregularities occur in the evaluation ofthe same subject, the final grade of this subject will be 0". Section 10 of Article 116. Results ofthe evaluation. (UAB Academic Regulations).
Assessment Activities
| Title | Weighting | Hours | ECTS | Learning Outcomes |
|---|---|---|---|---|
| First Partial Exam | 30% | 1.5 | 0.06 | 1, 8, 5, 9, 3 |
| Practices - reports - problems | 20% | 0 | 0 | 1, 2, 8, 4, 5, 7, 6, 3 |
| Second Partial Exam | 50% | 2 | 0.08 | 1, 8, 5, 9, 3 |
Bibliography
- Dominick Salvatore, (2010). Introduction to International Economics, John Siley & Sons, Inc, 2nd edition
- Robert C. Feenstra and Taylor, A.M. International Economics, Worth Publ Inc
- Thomas A. Pugel, (2015). International Economics, Mc Graw Hill
- Paul R. Krugman, Maurice Obstfeld & Melitz, M (2014). International Economics. Theory and policy, Pearson, 10th edition
Software
Microsoft Excel