Course Information Package
|Course Unit Title||INTERNATIONAL ECONOMICS|
|Course Unit Code||ABSE280|
|Course Unit Details||BA Business Administration (DL) (Business Electives) - BA Business Administration (Business Electives) - BSc Maritime Studies (Business and Maritime Electives) -|
|Number of ECTS credits allocated||5|
|Learning Outcomes of the course unit||By the end of the course, the students should be able to:|
|Mode of Delivery||Face-to-face|
|Recommended optional program components||NONE|
|Course Contents|| The Importance of International Economics; International Trade and the Nation’s Standard of living. |
The Law of Comparative Advantage. The Basis for and the Gains from Trade Under Constant Costs.
Demand and Supply, Offer Curves, and the Terms of Trade.
Factor Endowments and the Heckscher – Ohlin Theory. Assumptions of the Theory.
Factor Intensity, Factor Abundance, and the Shape of the Production Frontier. Heckscher – Ohlin Theorem.
Neutral, Labour - Saving and Capital-Saving Technical progress. Growth and trade – the small country case and the large country case.
Trade Restrictions: Tariffs. Partial Equilibrium Analysis of a Tariff.
Non-tariff Trade Barriers and the New Protectionism.
Import Quotas and their effects on the economy.
The Exchange rate. Fixed vs. floating exchange rate systems.
The Balance of Payments
The international monetary system.
Theory and practice of international economic integration
|Recommended and/or required reading:|
|Planned learning activities and teaching methods||The taught part of the course is delivered to the students by means of lectures and is further enriched through discussions, presentations and assignments|
|Assessment methods and criteria|
|Language of instruction||English|