Tantárgy adatlap

A tantárgy szakmai tartalma: This is a standard international economics course combining world events and incisiveness of economic analysis. Typical subjects covered are those of international trade theory and policy issues; economic integration; international resource movements and foreign direct investment; cross border lending, factor markets, balance of payments and the foreign exchange market.
Students should build abilities to understand global economic developments and to evaluate proposals for changing economic policies.
The course combines rigorous economic analysis with attention to issues of economic policy alive and important today.

Évközi tanulmányi követelmények: None

Vizsgakövetelmény: Written exam

Az értékelés módszere: Final grade will be based upon a written exam including numerical exercises, definitions, short essay-type questions and multiple choice tests. During the semester in seminars you will have the possibility to write 6 quizzes. The timing of quizzes can be found in the syllabus. Every quiz contains 10 multiple choice questions for 0.5 points each (5 points together). From the 6 quizzes you will be able to collect 25 points (5 best counts) which are going to be converted into extra points according to the following scheme:
21-25 quiz points: extra 5 points (10%)
18-20 quiz points: extra 4 points
15-17 quiz points: extra 3 points
12-14 quiz points: extra 2 points
9-11 quiz points: extra 1 points
0-8 quiz points: 0 extra points
The extra points are going to be added to your final exam points after the exam.

Tananyag leírása: Date of class Topics to be discussed, readings required for the class
1st week (February 5th)
Lecture 1. Introduction. The basics of economics 1. Microeconomics. Supply and demand model. The basics of the market mechanism.
Reading: Mankiw-Taylor-Ashwin chapter 4
2nd week (February 12th) Lecture 2. A simple one product-two nation model of international trade
Reading: Pugel chapter 2
3rd week (February 19th)
Lecture 3. Comparative and absolute advantages. The foundations of trade theory.
Reading: Pugel chapter 3
Quiz 1
4th week (February 26th)
Lecture 4. The standard trade model, Community indifference curves, Terms of Trade, Specialization. The Heckscher-Ohlin Model
Reading: Pugel chapter 3-5
5th week (5th March)
Lecture 5. Other trade models. Summing up the first part.
Reading: Pugel chapter 6
Quiz 2
6th week (12th March) Lecture 6. Trade restrictions: Tariffs, effects of a tariff on a small and on a large nation, optimum tariff. Non-tariff barriers.
Reading: Pugel chapter 8-9
7th week (19th March)
Lecture 7. International factor flows. Migration and capital flows.
Reading: Pugel chapter 15
Quiz 3
8th week (26th March) Lecture 8. Basic macroeconomics. Main concepts, inflation, GDP unemployment.
Reading: Mankiw-Taylor chapter 16
9th week (2nd April)
Spring break. No class.
10th week (9th April) Lecture 9. The balance of payments.
Reading: Pugel chapter 16
Quiz 4
11th week (16th April)
Lecture 10. Exchange rates, the foreign exchange market. Appreciation and depreciation.
Reading: Pugel chapter 17-18
12th week (23th April)
Lecture 11. Exchange rate determination models.
Reading: Pugel 19
Quiz 5
13th week (30th April)
No class.
14th week (7th May) Lecture 12. Exchange rate policies. Fixed versus floating exchange rates.
Reading: Pugel 20
Quiz 6

Órarendi beosztás: According to he Neptun system

Kompetencia leírása: By completing this course, you will
• Understand the basic theory of trade;
• Develop analytical skills to asses trade policy;
• Understand and relate to current developments of world trade;
• Identify main issues in international finance.

Félévközi ellenőrzések: Non-mandatory quizzes

A hallgató egyéni munkával megoldandó feladatai: None

Szak neve: International relations BA

Irodalomjegyzék:
Kötelező irodalom:

• Thomas A. Pugel (2009): International economics
• Dominick Salvatore (2005): Introduction to International Economics (Wiley International Edition)

Ajánlott irodalom: