Name: INTERNATIONAL ECONOMICS
Code: 510102005
Type: Compulsory
ECTS: 6
Length of subject: Per term
Semester and course: 2nd Year - First term
Speciality:
Language: English
Mode of study: On-site class
Lecturer data: BADILLO AMADOR, MARÍA LOURDES
Knowledge area: Economía Aplicada
Department: Economía, Contabilidad y Finanzas
Telephone: 968325602
Email: lourdes.badillo@upct.es
Office hours and location:
Qualifications/Degrees:
Academic rank in UPCT: Profesora Contratada Doctora
Number of five-year periods: 4
Number of six-year periods: 1 de investigación
Curriculum Vitae: Full Profile
Lecturer data: ARTAL TUR, ANDRÉS
Knowledge area: Economía Aplicada
Department: Economía, Contabilidad y Finanzas
Telephone: 968325647
Email: andres.artal@upct.es
Office hours and location:
jueves - 10:30 / 12:30
EDIFICIO CIM - FCCE, planta 2, Despacho 2P37
Se recomienda enviar correo electrónico previo
Qualifications/Degrees:
Academic rank in UPCT: Catedrático de Universidad
Number of five-year periods: 4
Number of six-year periods: 3 de investigación y 1 de transferencia
Curriculum Vitae: Full Profile
[CB5 ]. Students are required to show they have developed those learning skills necessary to undertake further studies with a high degree of autonomy.
[CG1 ]. To analyze and learn about the economic-financial environment relevant to companies and society, identifying the main sources of information.
[CE14 ]. To identify the main structural and institutional features of the global economy.
[CT3 ]. Learning in an autonomous way
1. Aprender de forma autónoma a partir de métodos y conocimientos aprendidos en la asignatura
2. Identificar el entorno internacional de la empresa y emplear las fuentes de información disponibles
3. Distinguir la importancia de las relaciones económicas internacionales para un país en la actualidad
4. Diferenciar los factores que guían la especialización productiva y por tanto exportadora de los países
5. Reconocer las fuerzas que originan la formación de clusters productivos y empresas multinacionales
6. Distinguir y explicar las cuentas asociadas a la Balanza de Pagos de un país
7. Reconocer el papel de los tipos de cambio y los mercados de divisas en una economía abierta
8. Distinguir el origen y el papel actual de algunas instituciones internacionales como el FMI
9. Identificar los aspectos asociados a un área monetaria óptima y el caso europeo
10. Discutir la historia reciente de los países en desarrollo
Análisis de los determinantes de los flujos comerciales entre países. Estudio de modelos teóricos basados en mercados competitivos y no competitivos para explicar el patrón de comercio y la especialización comercial de los países. Análisis de las multinacionales, de la inversión extranjera y de los procesos de desintegración vertical de las cadenas de producción. Examinar la estructura de la balanza de pagos. Estudiar el proceso de determinación de los tipos de cambio en los mercados de divisas. Identificar algunas de las principales instituciones de la economía internacional y en ese contexto examinar las características de algunos grupos de países.
EDUCATIONAL UNIT 1: INTRODUCTION
Chapter 1. Introduction to Applied Economics
References: All materials uploaded at Aula Virtual
Chapter 2. Introduction to International Economics
1. What is International Economics about?. Globalization
2. World Trade: An overview
3. GATT and WTO institutions
References: Krugman, Obstfeld & Melitz (2022). Chapters 1, 2 and 10.
EDUCATIONAL UNIT 2 INTERNATIONAL TRADE, FDI, AND EXTERNALITIES
Chapter 3. International Trade with perfect competition
1. Classical Trade theory: Absolute and Comparative advantage.
2. Labour Productivity: The Ricardian trade model
3. Resources and Trade: The Heckscher-Ohlin model
References: Krugman, Obstfeld & Melitz (2022). Chapters 3 and 5.
Chapter 4. Economies of Scale, production, trade and FDI
1. External economies and the location of production.
2. Internal economies and FDI flows.
References: Krugman, Obstfeld & Melitz (2022). Chapters 7 and 8.
EDUCATIONAL UNIT 3: INTERNATIONAL FINANCE
Chapter 5. Balance of Payments
1. The National Income Accounts
2. The Balance of Payments: Structure and Main equilibria.
References: Krugman, Obstfeld & Melitz (2022). Chapter 13.
Chapter 6. Exchange rates and Foreign Exchange Markets
1. Exchange rates in the short-run.
2. Exchange rates in the long-run.
3. Fixed exchange rates and foreign exchange intervention
References: Krugman, Obstfeld & Melitz (2022). Chapters 14-18
EDUCATIONAL UNIT 4: INSTITUTIONS OF THE WORLD ECONOMY
Chapter 7. International institutions in the World economy
1. The Bretton Woods Institutions: The International Monetary Fund
2. Optimum Currency Areas and the EMU experience
3. Developing Countries: Characteristics and origin of poverty
References: Krugman, Obstfeld & Melitz (2022). Chapters 19-22.
Practice Syllabus
In-class practices on the theory chapters in the syllabus. In addition, these practical activities include the making of two videos related to the concepts of the subject proposed by the professors. One related to chapters 2-4 and the other to chapters 5-7 of this syllabus.
Promoting the continuous improvement of working and study conditions of the entire university community is one the basic principles and goals of the Universidad Politécnica de Cartagena. Such commitment to prevention and the responsibilities arising from it concern all realms of the university: governing bodies, management team, teaching and research staff, administrative and service staff and students. The UPCT Service of Occupational Hazards (Servicio de Prevención de Riesgos Laborales de la UPCT) has published a "Risk Prevention Manual for new students" (Manual de acogida al estudiante en materia de prevención de riesgos), which may be downloaded from the e-learning platform ("Aula Virtual"), with instructions and recommendations on how to act properly, from the point of view of prevention (safety, ergonomics, etc.), when developing any type of activity at the University. You will also find recommendations on how to proceed in an emergency or if an incident occurs. Particularly when carrying out training practices in laboratories, workshops or field work, you must follow all your teacher's instructions, because he/she is the person responsible for your safety and health during practice performance. Feel free to ask any questions you may have and do not put your safety or that of your classmates at risk.
Class in conventional classroom: theory, problems, case studies, seminars, etc
In-class activities on contents of theory included in this course guide.
Learning outcomes: all
Competences: all
In-class activities on contents of practical activities included in this course guide.
Learning outcomes: all
Competences: all
57
100
Assessment activities (continuous assessment system)
Summative activities included in the section "Continuous assessment system" of this course guide.
Learning outcomes: all
Competences: all
3
100
Assessment activities (final assessment system)
Individual written test explained in the section 'Final assessment system' of this course guide.
Learning outcomes: all
Competences: all
3.5
100
Tutorials
Guiding and tutoring activities on theoretical and practical aspects and evaluation activities as included in this course guide.
Learning outcomes: all
Competences: all
5
50
Student work: study or individual or group work
Autonomous work by students (study and preparation of videos)
Learning outcomes: all
Competences: all
Individual study: Time dedicated to the study of the subject.
Learning outcomes: all
Competences: all
81.5
0
Presentation and defence of assignments
Production of two videos on concepts indicated by the professors. One for the chapters 2-4 of the syllabus, one for chapters 5-7. Each presentation accounts for 10% of the total mark of this subject.
In order to pass this assessment activity, the student has to obtain 3 points out of 10.
All assignments assess learning outcomes 1 and 2 and competences CB5, CE14 and CT3. Additionally, depending on the topic of each assignment, the following are assessed: chapter 2 for learning outcome (Resultados de Aprendizaje, RA) RA3; chapter 3 for RA4; chapter 4 for RA5; chapter 5 for RA6 and CG1; chapter 6 for RA7 and CG1; chapter 7 for RA8, RA9 and RA10.
The rubric for the evaluation of the videos is going to be indicated in the Aula Virtual of this subject.
20 %
Spoken or written exams
2 partial exams eliminating contents for the final evaluation system:
1- Partial evaluation test for the contents of chapters 2-4 of the syllabus (the questions assess the contents of each chapter with the same weighting). It accounts for 40% of the final mark and in order to pass the test a 3 out of 10 is required.
It evaluates competences CB5, CE14. Questions in the test also assesses learning outcomes (resultados de aprendizaje, RA): Question on Chapter 2 of the syllabus for RA3, Chapter 3 for RA4, chapter 4 for RA5.
2- Partial evaluation test for the contents of chapters 5-7 of the syllabus (the questions assess the contents of each chapter with the same weighting). It accounts for 40% of the final mark and in order to pass the test a 3 out of 10 is required.
It evaluates competences CB5, CE14. Questions in the test also evaluate learning outcomes (resultados de aprendizaje, RA): Question on Chapter 5 of the syllabus for RA6 & CG1, Chapter 6 for RA7 & CG1, chapter 7 for RA8, RA9 & RA10.
80 %
Evaluation of assignments and reports on practical sessions (final product, follow-up and contribution in the case of group work)
Evaluation of assignments and reports on practical sessions (final product, follow-up and contribution in the case of group work)
0 %
Spoken or written exams
3 exam-type activities matching those of the continuous assessment system:
1- One matching the partial evaluation test for the contents of the 2-4 chapters of the syllabus (the questions assess the contents of each chapter with the same weighting). It accounts for 40% of final mark, and requires 3 points out of 10 to pass. It evaluates competences CB5 & CE14. Questions in the test also assess learning outcomes (resultados de aprendizaje, RA): Question on Chapter 2 of the syllabus for RA3, Chapter 3 for RA4, chapter 4 for RA5.
2- One matching the partial evaluation test for the contents of the 5-7 chapters of the syllabus (the questions assess the contents of each chapter with the same weighting). It accounts for 40% of final mark, and requires 3 points out of 10 to pass. It evaluates competences CB5 & CE14. Questions in the test also evaluate learning outcomes (resultados de aprendizaje, RA): Question on Chapter 5 of the syllabus for RA6 & CG1, Chapter 6 for RA7 & CG1, chapter 7 for RA8, RA9 & RA10.
3- One matching the videos about concepts proposed by the professors in the continuous assessment (one writing-type question on one concept from chapters 2-4 and another on chapters 5-7). It accounts for 20% of the final mark (10% for each question), and requires 3 points out of 10 to pass. It assesses learning outcomes RA1 and RA2 and competences CB5, CE14 and CT3. Additionally, depending on the concept explained, it is evaluated: chapter 2 for RA3; chapter 3 for RA4; chapter 4 for RA5; chapter 5 for RA6 & GC1; chapter 6 for RA7 & GC1; chapter 7 for RA8, RA9 & RA10.
100 %
Warning: The student that decides to participate in one activity of the final exam (EF) is formally renouncing the mark previously obtained in that activity.
Author: Krugman, Paul
Title: Economía internacional Teoría y política
Editorial: Pearson Education
Publication Date: 2016
ISBN: 9788490352960
Author: Krugman, P., Obstfeld, M & Melitz, M.
Title: International Economics: Theory and Policy (12th edition)
Editorial: Pearson
Publication Date: 2022
ISBN:
Author: Alonso, José Antonio
Title: Lecciones sobre economía mundial introducción al desarrollo y a las relaciones económicas internacionales
Editorial: Civitas
Publication Date: 2015
ISBN: 9788447052912
Author: Feenstra, Robert
Title: International Economics 2nd edition
Editorial: Worth Publishers
Publication Date: 2012
ISBN:
Website of the Department of Economics and related teachers. Aula Virtual UPCT with uploaded files and info there uploaded by teacher/s of the subject.
Websites of renamed Institutions for International Economics and Statistics:
Website European Union (http://europa.eu/index_en.htm)
Website Instituto Nacional de Estadística-INE (http://www.ine.es)
Website Ministerio de Economía-Spain
(http://www.mineco.gob.es/portal/site/mineco?lang_choosen=en).
Websites other international institutions:
IMF: www.imf.org
WTO: www.wto.org
UUNN: www.un.org
OECD: www.oecd.org
Eurostat: https://ec.europa.eu/eurostat