International Economic Relations
Instructor: Драган Глигорић, PhD, Associate Professor
The subject International Economic Relations is an introduction to International Economics, based on studying classical concepts and modern trends of international economic relations. The aim is to familiarize students with the actual international flows (international trade) and international financial flows.
| Code : | О14МЕО |
|---|---|
| Status: | C |
| Semestar: | 4th |
| Number of classes per week: | 4+2 |
| ЕECTS: | 7 |
| Teachers: |
Драган Глигорић,
PhD Associate Professor Јелена Тривић, PhD Associate Professor Драгана Вујичић Стефановић, MSc Senior Assistant |
| Prerequisites: | Основи економије |
| Learning Outcomes (gained knowledge): | Upon successful completion of this subject the student will be able to: − describe the concept of international economic relations and modern trends in international economic relations, − indicate and explain the classical and neoclassical theories of international trade, − classify the instrument of trade policy and examine the importance and role of international trade institutions, − explain the concept of the balance of payments and the types of transactions in the balance of payments, − sum up the importance of exchange rates and their impact on economic trends, − examine the importance of international financing, explain the concept of the debt crisis and the international movement of capital, − examine the importance and role of international financial institutions. |
| Subject Contents: | International trade: classical and neoclassical theories of international trade, protectionism in international trade; the impact of international trade on national income and interdependence of these values; microeconomic analysis of pricing in international trade; trade relations and elasticity in international trade; theory and policy of trade policy instruments: tariffs and non-tariff barriers; the role of transnational corporations and globalization; Rules in international trade: institutionalization (the role of the GATT and the WTO). International Finance: balance of payments; concept, types and balance of payments imbalances, balancing the balance of payments; the equilibrium theory of the balance of payments; exchange rate, term, type and effects of exchange rates, exchange rates formation theory; foreign currency markets; international capital movement, forms and effects; Euro-currency market; international debts – causes, indicators, and possibilities of overcoming the debt crises; international financial institutions; International Monetary Fund; The World Bank and its affiliates. Regional integration: forms of regional integration, the European Union – development, effects of integration. |
| Teaching Methods and Learning Activities: | Lectures, consultations, individual students’ papers and presentations, and workshops. |
| Literature: | Čenić-Jotanović G. (2010). International Economics. Laktaši: Grafomark; Krugman, P.; Obstfeld, М. (2009). International Economics, Theory and Policy. Belgrade: Datastatus; Salvatore, D. (2009). International Economics. Belgrade: Centre for Publishing. |
| Types of Assessment for the subject: | Continuous evaluation of knowledge: testing, presentations of seminar papers and oral exam. Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points) |
| Special Remarks for the subject: |