International Economic Relations: LDCs and Economies in Transition (ERASMUS)

Prerequisites:

Some basic knowledge of economics (at least one semester course) or basic knowledge of international politics, or international law is required. In exceptional cases of students with some experience in international agencies or some background of research on or interests in international development the lecturer may allow to register for the course without the above prerequisites.

Objectives of the course:

A student will learn various theoretical tools useful in an analysis of international micro- and macroeconomic environments that will assist him/her to understand better the complexities of the current global economy as well as critically assess the suggested solutions to the present international economic problems dominating European Union and the world global economics at the beginning of the 21st century.

Course contents:

The dominant part of the course is arranged along the traditional lines of international economics, i.e. various classical and modern trade theories, explaining the basis and the gains from trade and later various obstacles to trade are discussed focusing on trade policies in the developed and semi-developed economies. A few sessions will be spent on balance of payments, foreign exchange markets and determinants of exchange rates and their implications for the open macro-economy. A particular role in modern international economics is played by the factor movements. The final part of the course will concentrate on the debate of the macroeconomic relations between various domestic economic systems and the world economies as well as the role of international integration and international organizations. Special attention will be placed on debating and explaining international economic shocks and financial and commodity crises over recent fifty years.

Assessment methods:

Students are expected to actively participate in class presentations and discussions.

Two written assignments are required.

One test to the end of the course will be written.

Written or oral exam.

Final mark:

60% class record

40% final exam