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

During spring semester according set schedule

Exam schedules

The course details with exam dates are informed in the beginning of the course

Assessment methods and criteria

The course evaluation is based on exam, together with possible returnable team reports

Assessment scale

0-5

Teaching methods

Contact teaching and exercises, on-line materials

Learning materials

Course slides, dedicated videos and journals

Student workload

The course is 3 credits, as students work 3*27 hours ie. 81 hours

Content scheduling

The course is based on selected macroeconomic themes, with 6 lectures during the period 4, according set schedule

Completion alternatives

The course is based on contact teaching with exam

International connections

This course is international business course, the course is in english

Further information

The further course details are informed during the first lecture

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

Student is not participating the lectures and does not adopt fundamentals of macroeconomy.

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

Student is able to understand basic terminilogy of macroeconomy like GDP, aggregate demand and supply, interest rates, monetary system, inflation, employment, fiscal and monetary policy.

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

Student is able to connect the macroeconomic factors together, he is able to see the crucial linkages in between economical factors.

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

Student understands macroeconomic terminology, the connections in between and he is able to experience macro factors within surrounding economies like in form of news and media. He is able to make macroeconomic statements based on given factors.