International Economy

De Baripedia

This course provides an introduction to the economic tools needed to analyze current issues in international economic relations - trade and capital flows, trade policy and international macroeconomic policies.

The first part of the course is devoted to the study of international trade. The main determinants of international trade are first presented: the role of comparative advantages in the development of international trade and the gains associated with it, the influence of returns to scale and product differentiation, particularly on intra-industry trade. In a second step, trade policy issues, the different instruments available to governments and their interactions at the international level (through the WTO and multilateral negotiations, development of networks of regional agreements) are analysed. The main arguments for challenging free trade, particularly at the environmental level, are also addressed.

The second part of the course provides an introduction to the major contemporary debates on monetary and financial issues at the international level and presents the instruments necessary for their analysis. A first stage is devoted to the study of monetary theories (balance of payments, exchange rates, interest rates) and to the progressive construction of a macroeconomic model to understand how monetary and fiscal policies affect the exchange rate and domestic product. In a second stage we use the tools thus developed to analyse the different exchange rate regimes and discuss the difficulties of the euro zone.[10]

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