Global Economics (3cr)

Objectives (course unit)

National economies are an integral part of the global economy. Issues and events in global economy have strong influence upon the function of national economy.
The course aims at familiarizing the students with global institutions, agreements, events, trends and their relationship to the national economy.

After completing the course, students will be able to:
• Understand the benefits of specialization and the impact on trade and investment
• Know trade barriers and their background factors
• Understand exchange and interest rate mechanisms
• Conceptualize the role of global organizations
• Understand trade liberalization and regional economic integration
• Relationships among national economy, national debt and the international rating agencies

Content (course unit)

• What are the benefits of global trade?
• What are the main international trade theories?
• What are the effects of trade barriers on national economies?
• What are the reasons behind exchange and interest rate volatility?
• What is the role of economic integration in world trade?
• How the rating agencies influence national borrowing rate?

Location and time

Day; Wednesday
Time: 14:00-17:00
Place: C2-09

Exam schedules

Thursday, 27.4.2017, 11:00-14:00. Place will be announced later. There will be chance for re-take.

Assessment scale

0-5

Teaching methods

Contact teaching, study conversation, project, presentation

Learning materials

-Selected chapters from: Alain Anderton (2008). Economics. 5th edition. Causeway Press Limited, ISBN 9781405892353. Or the newest edition.
-Selected chapters from: Krugman, Paul (2003). International Economics: Theory and Policy. Addision-Wesley. Or the newest edition.
-Lecture handouts

Student workload

Total resource hour: 27x3 = 81
Contact lesson: 21 hours (including a test & presentation)
Reading: 30 hours
Project: 30 hours

Completion alternatives

Contact to the course teacher

Practical training and working life cooperation

Possible and welcome

International connections

Welcome

Further information

Contact lessons are very important because course final exam will be based mainly on the contact lessons.

Assessment criteria - fail (0) (Not in use, Look at the Assessment criteria above)

Not done the project & appear to the course final exam

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

Student has achieved the objectives of the course sufficiently. Student understands the premises and principals of the subject matter. Student recognizes, is able to determine and use the concepts and models.

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

Student has achieved the objectives of the course well although the skills and competences are somewhat in need of further development. Student is able to determine and apply the concepts and models of the subject matter well and is able to apply them in simple tasks.

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

Student has achieved the objectives of the course excellently. The student masters the concepts and models of the subject matter in an excellent manner. Student is able to conduct fluent and reasoned analysis and has good capabilities to apply the learning