Economics of International Trade and International Finance (10 ECTS)

Lecturer(s): Dr S.E. Weishaar (coordinator)

When: Block 4

Brief course description:
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.

Teaching method: Lectures

Assessment: Written exam (essay questions) (digital if possible).

*Official course information and schedules during the academic year can be found in Ocasys.