syllabus

Országok listájaHungaryBudapesti Corvinus EgyetemGazdálkodástudományi KarNemzetközi gazdálkodás (angol nyelven)International Economicssyllabus

International economics
Fall Semester, 2008/2009 Academic Year


Lecturer: András Simon Department: Macroeconomics Office hour: Wednesday 14.50 – 16.10 Room 219 (old building) Availability: revelation.principle@gmail.com
Prerequisites to the course: Microeconomics, Macroeconomics

Objectives and description of the course:
“No man is an island, entire of itself; every man is a piece of the continent, a part of the main…” The same can be said of countries as well.
In this course, we are going to look at the economic connections between countries. As previously, we are dealing with decision-making with respect to scarce resources in order to achieve certain objectives. We are going to look at three great topics in particular: international trade, trade policies and international finance.
International economics is also one of the oldest branch of economics. People were thinking about the export and import of goods and services since the era of city states. It is also a very current one: debates on globalization cannot be properly understood without economic tools.
While thoroughly discussing the theory, the aim of the course is mainly to build practical understanding. It is not enough to understand the concepts and the relationships, during the course you should apply it to relevant topics, news items, etc.

Compulsory readings:
Appleyard – Field – Cobb (2007): International Economics, 6th edition, McGraw-Hill.
It is recommended to have the latest edition. In case you work with a previous edition, it is your responsibility to keep track of the changes made in the latest edition.

Recommended reading:
The Economist, Financial Times, Wall Street Journal

Detailed class schedule:
(may be subject to change)

Date of class Topics to be discussed, readings required for the class Week 1 The World of International Economics and Early Trade Theories. Chapters 1 & 2. Week 2 The Classical World of David Ricardo. Chapter 3. Week 3 Introduction to Neoclassical Trade Theory and Gains from Trade. Chapters 5 & 6. Week 4 Offer Curves and the Terms of Trade. Chapter 7. Week 5 Endowments and the Heckscher-Ohlin Model. Chapter 8. Week 6 Post-Heckscher-Ohlin Theories of Trade. Chapter 10. Week 7 The Instruments and Impact of Trade Policy. Chapters 13 & 14. Week 8 Midterm Exam Week 9 Further Discussion of Trade Policies and Economic Integration. Chapters 15 & 17. Week 10 Balance of Payments Accounts and the Foreign Exchange Market Revisited. Chapters 19 & 20. Week 11 External Balance, Disequilibrium and Adjustment. Chapters 22 & 23. Week 12 National Income and the Current Account. Chapter 24. Week 13 Economic Policy in the Open Economy under Fixed Exchange Rates. Chapter 25. Week 14 Economic Policy in the Open Economy under Flexible Exchange Rates. Chapter 26. Week 15 Wrap-up, presentations. Week 16 Review (Final Exam)
Assessment, grading: midterm exam (40 %) + final exam (40 %) + project paper (20%)

Calculation of grades:
0-50% fail
51-62% pass
63-74% satisfactory
75-86% good
87-100% excellent

Exams will consist of some mix of multiple choice questions, short essays and case studies. For exams the participants will be responsible for all the assigned readings and all material presented in the lectures and introduced in the class discussions.
The final exam is only on the material after the midterm.
For those who fail or want to retake the exam, there will be two retake exams in the weeks after the final. The material for the retake exam consists of all the materials covered in the semester.
The project papers are to be prepared by assigned groups in approved topics. Basically I expect detailed case studies (possibly based on magazine or journal articles). The deadlines concerning the papers are to be announced later.











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International Studies Center – Corvinus University of Budapest

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