International Economics

obligatory courses

Classroom

The aim of the course is to familiarize students with the economic conditions of the international business environment and financial markets, including megatrends and processes currently occurring in the international environment, theories of international exchange, cross-border flows of production factors, foreign investments, and international trade problems. The thematic scope of the course also includes an introduction to the international monetary system, issues of international financial relations and macroeconomic connections of the domestic economy with the world economy.

The lecture covers the following topics:

1. Elements of economic and financial geography

• Geographical distribution of wealth and its causes

• Largest countries in terms of GDP

• Economic, technological and financial strength – how to assess countries' resources

• Megatrends in the global economy

• Globalization and regionalization

• Systemic convergence

• Technological progress

• Energy transformation

2. International specialization and its economic justification

• Specialization and its reasons

• Advantages and disadvantages of specialization

• Review of economic, strategic and political theories of foreign trade as a justification for specialization

3. Competitiveness of economies and methods of shaping it

• The concept and factors of competitiveness

• Competitive advantage and comparative advantage

• Porter's Diamond as a model for assessing the competitiveness of industries

• Elements of economic policy building competitiveness

• Trade policy

• Currency policy

• Technological development

• Integration processes

• Energy transformation

4. Ways to enter foreign markets

5. Assessment of the attractiveness of economies

• Balance of payments

• Ratings

• Evaluation index system

• Market methods

6. Introduction to international risk assessment

7. Economic crises and their causes

The thematic scope of the exercises includes:

1. Selected theories of foreign trade and their effectiveness

2. Foreign investments: direct and portfolio. Their impact on the economic situation

3. Ways of entering international markets - advantages and disadvantages - SWOT analysis

a. Export,

b. Turnkey investments,

c. Franchising and licensing,

d. Direct investments

4. Effectiveness of basic trade policy instruments (dumping subsidy duties, VER, import tax, import quotas)

5. Exchange rate and risk of international operations

6. Balance of payments

a. Structure,

b. Factors determining the dynamics of changes,

c. Impact on the economic situation

7. Factors affecting the balance of payments

a. Changes in the exchange rate and the situation in the balance of payments

b. Changes in the interest rate and the situation in the balance of payments

c. Competitiveness and the situation in the balance of payments

8. The country's investment position

Ways of determining and importance for international exchange

During the exercises, the instructors have the freedom to supplement the topics with additional elements within the available class time

Lecture:

Nowak A.Z., Zalega T., (2019) Makroekonomia, PWE, Warszawa

Budnikowski A., (2021), Ekonomia międynarodowa, PWE, Warszawa

Krugman P.R., Obstfeld M., Melitz M.J., (2018), Ekonomzia międzynarodowa, PWN, Warszawa

Exercises:

Basis:

Krugman, P., Obsfeld, M., 2018, Ekonomia międzynarodowa, PWN, Warszawa,

Kowalik P., Pietrzak A.,2005, Finanse międzynarodowe – zbiór zadań, PWN, Warszawa

Suplementary:

Bernaś B.,/red/, 2002, Międzynarodowe transakcje ekonomiczne, Difin, Warszawa,

Buckley A., 2000, Multinational Finance, FT Prentice Hall, London

Budnikowski A., 2023, Ekonomia międzynarodowa,PWE, Warszawa

Dusza M., 1992, Banki na rynku kapitałowym, BMiB, Warszawa

Dusza M., 1999, Rynek kapitałowy w Polsce: narodziny, pierwsze dziesięciolecie, perspektywy, BMiB, Warszawa

Charbonszczewska E., Oręziak L., 2000, Miedzynarodowe rynki finansowe, SGH, Warszawa

Eiteman D.K., Stonehill A.I., Moffett M. H., 2001, Multinational Business Finance, 9th ed., Addison Wesley- Longman, Boston

Karczmarek T.T., 2001, Zarządzanie ryzykiem w przedsiębiorstwie eksportującym, ODDK, Gdańsk

Kozioł W., 2004, (red) Handel zagraniczny. Operacje, rozliczenia, regulacje, Wyd. Naukowe WZ UW, Warszawa, s.279 - 288,

Krugman, P., Obsfeld, M., 2018, Ekonomia międzynarodowa, t. I i II, PWN, Warszawa

Lindert P.H., 1986, International Economics, Irwin, Homewood, Il.

Michałek J.J, 2002, Polityka handlowa. Mechanizmy ekonomiczne i regulacje międzynarodowe, PWN, Warszawa

Najlepszy E., 1993, Międzynarodowe finanse przedsiębiorstw, Poznań,

Nowak A.Z., 2002, Integracja europejska. Szansa dla Polski?, PWE, Warszawa;

Pietrzak E., 1992, Międzynarodowe operacje walutowe, BMiB, Warszawa

Rugman A.M., Hodgetts R.M., 2003, International Business, FT Prentice Hall, London

Rymarczyk J., /red/, 2006, Międzynarodowe stosunki gospodarcze, PWE, Warszawa,

Shapiro A.C., 1999, Foundation of Multinational Financial Management, John Wiley & Sons, New York

Świerkocki J., Zarys Międzynarodowych Stosunków Gospodarczych, PWE, Warszawa 2011;

Tarczyński W., Mojsiejewicz M., 2001, Zarządzanie ryzykiem, PWE Warszawa

Zabielski K., 1994, Finanse międzynarodowe, PWE Warszawa

The student knows and understands:

K_W01 - Knows and understands at an advanced level the terminology relating to accounting in business organizations in the discipline of economics and finance and in complementary disciplines (management and quality sciences, legal sciences), in particular for financial management and accounting, in particular in relation to the international market

K_W03 - Knows and understands to an advanced degree economic theories and models regarding the functioning of organizations and the entire economy, especially in relation to international economics

K_W05 - Knows and understands to an advanced degree technological, social, political, legal, economic and ecological processes and phenomena and their impact on financial decisions in organizations, the functioning of the organization and the entire economy, including the principles of protection of industrial property and copyright, with particular emphasis on international market

Student is able to:

K_U02 - Is able to correctly interpret technological, social, political, legal, economic and ecological processes and phenomena and their impact on financial decisions in organizations, the functioning of the organization and the entire economy, using the appropriate selection of sources in the area of international operations and their conditions

K_U05 - Is able to plan and organize own and team work.

K_U06 - Has the ability to self-educate and improve acquired qualifications.

The student is:

K_K01 - Is ready to assess and critically approach situations and phenomena related to financial management in organizations, accounting, management of financial institutions and strategies of financial institutions in the international environment

The lecture ends with an exam. The exam can be conducted on-site or remotely. You can take the exam after passing the exercises.

The exam involves writing an essay (an exam in the classroom in electronic form via the eNauka or Kampus platforms is acceptable). The student chooses one question out of four. He has 60 minutes to write the essay. Additionally, students' activity in the lecture hall and specially run online forums is taken into account.

The evaluation of the student's work results during the exercises is comprehensive. It consists of: a final test (in the form of a multiple-choice test, remotely possible, on the same date for all groups), case studies in groups, and activity in classes (including solving tasks, participating in discussions, homework). Learning outcomes will be verified on an ongoing basis through tasks (e.g. Oxford discussions, SWOT analysis, etc.) and presentations made by participants during exercises and finally during the course (test) and exam.

Exercises:

- colloquium 50% (final colloquium can be conducted remotely on the eNauka or Kampus platform)

- presentation 30%

- activity and tasks during classes 20%