Economics of Int Trade & Int Finance

Faculteit Rechtsgeleerdheid
Jaar 2019/20
Vakcode RGBEO50010
Vaknaam Economics of Int Trade & Int Finance
Niveau(s) bachelor
Voertaal Engels
Periode semester II b (block 4)
ECTS 10
Rooster rooster.rug.nl

Uitgebreide vaknaam Economics of International Trade and International Finance
Leerdoelen For the Economics of International Trade part of this module, emphasis is placed on the economic theories of international trade policy. After having completed this course, students are able to:
(a) appraise the benefits of international trade on the basis of ‘comparative and absolute advantage’, and ‘economies of scale’, ‘Heckscher-Ohlin model’ and modern trade theories,
(b) debate the existence and operation of trade barriers in a global setting,
(c) realize the relevance of the discussed concepts for their legal profession.

For the International Finance part of this module, emphasis is placed on monetary - and macro-economics. After having completed this course, students are able to:
(a) explain how the international transfer of funds relates to the creation and supply of money,
(b) explain the balance of payments,
(c) assess how changes in the exchange rates, money supply, fiscal policy and capital mobility affect the economy within the Mundell-Fleming model,
(d) apply basic concepts of monetary and macro-economic policy in a domestic and international setting,
(e) realize the relevance of the discussed concepts for their legal profession.
Omschrijving The international economy is characterized by countless possibilities and uncertainties. The performance of national economies is influenced by variable factors such as exchange rates, trade barriers, constraints on international investment and the level of macroeconomic stability. If a country is to make its mark in the international economy, policymakers must be aware of these factors, how they will develop in the future, and why this is so.
The module Economics of International Trade and International Finance discusses the most important economic theories that enable decision-makers, legal practitioners - and individuals in general - to (a) understand the international economy, and (b) assess national policy-making and enforcement.
Motives behind and implications of trade barriers and international trade policy are explained, using classical trade theory, the Heckscher-Ohlin model, and elements from contemporary theories, such as economies of scale and imperfect competition.
In International Finance, starting with the national available amount of money and the balance of payments, the interdependence of national income, national product, consumption, investments, imports, and exports between countries will be explained. A particular focus of the course is on the Mundel-Fleming model.
Uren per week 4
Onderwijsvorm hoorcollege
(7 4-hour lectures)
Toetsvorm schriftelijk (essayvragen) (digitaal indien mogelijk)
Vaksoort b-niveau, niet-juridisch
Coördinator prof. dr. S.E. Weishaar, LLM.
Docent(en) prof. dr. S.E. Weishaar, LLM.
Verplichte literatuur
Titel Auteur ISBN Prijs
International Economics, 7th edition. Eicher, T.S., J.H. Mutti, and M.H. Turnovsky (Kindle edition) 978-0-415-77286-0 ca. €  45,00
International Economics, 7th edition. Eicher, T.S., J.H. Mutti, and M.H. Turnovsky 978-0-415-77286-0 ca. €  65,00
Entreevoorwaarden
  • This course is only accessible for students that have obtained at least 45 EC from their first year courses at research university level or that participate in a pre-approved pre-master or decree programme.
  • Not accessible for students who passed the course Internationale Economie II before 1-9-11.
Opmerkingen
Opgenomen in
Opleiding Jaar Periode Type
Exchange programme 1 semester II b optional
LLB International and European Law - starting in 2017-2018 and earlier  (in academic year 2019-2020) 3 semester II b compulsory
Pre-LLM International and European Law: track Energy and Climate Law 1 semester II b compulsory
Pre-LLM International and European Law: track European Economic Law  (* For International Relations and/or Political Science students) 1 semester II b compulsory
Pre-LLM International and European Law: track European Economic Law  (Pre-LLM European Economic Law) 1 semester II b compulsory