INTERNATIONAL POLITICAL ECONOMY MOD. 2

This module complements International Political Economy MOD. 1. It contributes to the fulfilment of the program’s learning objectives in the field of economics for the "Global Studies" and "European Union Studies" tracks. This module aims at integrating the first module by touching topics such as the theory of international trade, international trade policies, exchange rates, and international macroeconomic policy. The course is entirely taught in English.

The course provides students with some basic theoretical tools useful to illustrate what are the reasons explaining trade patterns among countries, what are the gains from trade, what mechanisms determine the exchange rate between currencies and the relationship between interest rates, exchange rates and money supply. Students will be able to apply the tools provided to the analysis of issues concerning trade policies and international macroeconomic policy.

The knowledge of the topics touched within module 1 is NOT a pre-requisite for module 2. The students must meet the minimum credit requirements for the Master's Degree Programme in Comparative International Relations.

International trade and trade policies
- The Ricardian model
- The specific factors model
- The Heckscher-Ohlin model
- The standard trade model
- Tariffs and quotas
- The political economy of trade policy

Topics in open macroeconomics and international macroeconomic policies
- National income accounting and the balance of payments
- Exchange rates and the foreign exchange market
- Money, interest rates, and exchange rates
- International monetary systems

Krugman, P., M. Obstfeld and Marc Melitz: "International Economics: Theory and Policy", 11th edition. Pearson Eds.

If needed, references to additional teaching material (articles, reports, slides, etc.) will be provided in class and on Moodle.

A final in-person closed-book written exam will be taken to verify that the students have acquired the necessary knowledge. The assessment of the two modules is performed through two separate exams (see the webpage of MOD I for information regarding the assessment of the first module of this course).
The final grade of the course (12 CFU) is calculated as the average of the grades obtained in the two modules. The grade is officially recorded upon the successful completion of both modules. A student may take each of the two exams in different exam sessions within the academic year 2022/2023. If the student cannot pass both exams within the exam sessions of the 2022/2023 academic year, they will be required to retake BOTH modules.

Traditional front lectures, seminars and class discussions. Class recordings are not going to be made available except if exceptional circumstances occur.

English

This syllabus is provisional and may be subject to changes. Any change will be made public on the Moodle page of the course.

written

This subject deals with topics related to the macro-area "Climate change and energy" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development