Principles of Economics
Please note International Economics is the new title of the Trade & Finance course, so students who have already successfully completed that course cannot enroll in International Economics.
Countries are increasingly eliminating their trade barriers and international trade now truly spans the globe. Products and services come from everywhere and go everywhere. This, as well as the liberalization of large financial flows, makes countries very dependent on what happens in the international economy. At the end of this course, students will have an understanding of both the basic principles of international trade and finance as well as the recent developments in trade and finance. These will include, among other things, regional and global integration, the consequences of international financial crises on the development of economies, the interaction of economic policies in individual countries and the impact of international institutions, such as the WTO and the IMF, on the processes of globalization. Students will be able to understand, apply and discuss fundamental economic arguments on international economic issues.
In this course, the student will
Gain a thorough acquaintance with the principles of international economics.
Understand the benefits and costs of international trade and finance, as well as the recent developments in trade and finance.
At the end of this course, the student:
Understands the important current issues in the field of International Economics
Has a command of the core elements in this field of expertise;
Is able to collect, interpret and process information in the field of International Economics
Once available, timetables will be published here.
Mode of instruction
Each week consists of two seminars. During the first seminar, the main issues in the required reading will be identified and discussed. Based on an interactive setting, the focus will be on understanding the concepts and theories in international economics. In the second seminar, students will apply their knowledge. Each week the homework consists of preparing study problems. In class the students will discuss the solutions for the problems. Applying the concepts and theories, and explaining this to each other increases the knowledge and understanding of economics.
Final written exam (30%)
Three written class assignments and peer reviews (10% and 5% each)
Class participation (10%)
Term paper (15%)
There will be a Blackboard site available for this course. Students will be enrolled at least one week before the start of classes.
Kenneth A. Kennedy, An Introduction to International Economics, New Perspectives in the World Economy, 2nd edition. Cambridge University Press, 2012
Additional material made available through Blackboard
This course is open to LUC students and LUC exchange students. Registration is coordinated by the Curriculum Coordinator. Interested non-LUC students should contact firstname.lastname@example.org.