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International Economics II
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International Economics II
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Academic year 2013/2014
- Course ID
- ECO0229
- Teacher
- Prof. Enrico Colombatto (Titolare del corso)
- Year
- 2° anno
- Teaching period
- Secondo semestre
- Type
- Di base
- Credits/Recognition
- 6
- Course disciplinary sector (SSD)
- SECS-P/01 - economia politica
- Delivery
- Tradizionale
- Language
- Inglese
- Attendance
- Facoltativa
- Type of examination
- Scritto
- Examination methods
- The exam will cover the topics explained during the course and discussed in the articles mentioned in the Âreferences below. Therefore, students are strongly advised to attend the lectures and take notes.
The exam is only written and will take some 90 minutes. Candidates can take the exam up to three times during the academic year. - Prerequisites
- Students are required to have a good knowledge of micro- and macroeconomics. Some notions of econometrics are also helpful.
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Sommario del corso
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Course objectives
Capire la realtà dell'economia internazionale
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Results of learning outcomes
Comprensione delle relazioni economiche internazionalil
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Learning assessment methods
Esame scritto
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Support activities
Nessuna
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Contents
Si rimanda al programma
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Program
- Trade theory:
- trade theory before Adam Smith;
- the foundations of trade (opportunity costs)
- the essence of comparative advantage (basic model and the m-country, n-good context),
- the Heckscher Ohlin vision (H-O theorem, the Stolper Samuelson th., the factor-price equalization th., with complete and incomplete specialization, the Rybczynski th.).
- intra-industry trade and imperfect competition
- Trade policy:
- Trade-indifference curves and offer curves
- the economics of tariff and non-tariff barriers in small and large countries,
- subsidies
- nominal and effective protection,
- strategic protectionism,
- customs unions (trade creation and trade diversion)
- exchange-rate protectionism (the Dutch disease)
- Exchange rate theory
- arbitrageurs and speculators,
- Fundamental analysis, technical analysis, bounded-rationality
- the law of one price,
- Purchasing power parity (non-tradeables): the strong version, the relative version, the weak version, the relative version
- The economics of fixed exchange rates (gold standard and paper money)
- Monetary Unions
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Suggested readings and bibliography
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References:
- R. Feenstra and A. Taylor, International Economics, Worth Publishers.
or
P. Krugman and M. Obstfeld, International Economics, Addison Wesley.
- J. Niehans (1984), International Monetary Economics,London: Allan Publishers, chapters 2-5.
Further mandatory readings:
- N. Rosenberg (1994), Exploring the Black Box, Cambridge: Cambridge Univ. Press, chapter 2. (accessible from http://projects.exeter.ac.uk/babbage/rosenb.html)
- S. Power (1987), “The origins of the Heckscher-Ohlin Concept”, History of Political Economy, 19 (2), pp. 289-298.
- R. Feenstra, J. Markusen and A. Rose (2001), “Using the gravity equation to differentiate among alternative theories of trade”, Canadian Journal of Economics, 34 (2), May, pp. 430-447.
- A. Krueger and B. Tuncer (1982), “An empirical test of the infant-industry argument”, American Economic Review, 72 (5), pp. 1142-1152.
- Ph. Lane (2006), “The real effects of European Monetary Union”, Journal of Economic Perspectives, 20 (4), Fall, pp. 47-66.
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