International Economics (EI-E)
Área
AC Economia > UC Obrigatórias
Activa nos planos curriculares
Management > Management > 1º Ciclo > Unidades Curriculares Optativas > International Economics
Economics > Economics > 1º Ciclo > Unidades Curriculares Obrigatórias > International Economics
Nível
1º Ciclo (L)
Tipo
Estruturante
Regime
Semestral
Carga Horária
Aula Teórica (T): 2.0 h/semana
Aula Prática (PL): 2.0 h/semana
Trabalho Autónomo: 108.0 h/semestre
Créditos ECTS: 6.0
Objectivos
The course explains:
-The causes and effects of trade
-The effects of trade policies
-The process of trade liberalization undertaken by the GATT/WTO
-The effects of economic and monetary integration
Programa
Ch 1: Gains from trade in the Ricardian model
-The major trade flows across the globe
-1st way of understanding the Ricardian gains from trade
-2nd way of understanding the Ricardian gains from trade
-Gains from trade resulting from economies of scale
Ch2: Is there a mechanism that leads countries to fully employ their workforces in the sectors of comparative advantage?
- A model with two goods: the relative wage must fall between the relative productivities in the two goods
-Five notes
-International Financial Investors (IFI)
-Flexible rates with the Southern trade deficit financed:
a) The South?s Central Bank
b) Loans of Northern banks
-Fixed rates with the Southern trade deficit financed
a)The South?s Central Bank
b) Loans of Northern banks
Ch 3: Applications of the Ricardian model with 10-goods
-Two possible causes of trade deficits
-The doctrine of the immaculate transfer
-Trade imbalances in the Eurozone, 1995-2013
a) The emergence of the imbalances, 1995-2010
b) The subsequent adjustment to the imbalances, 2011-2013
Ch 4: The Hecksher-Ohlin (HO) model
-Problem with the Ricardian model
-The unit production cost of a good
-The HO theorem
-Note about the HO theorem
-The HO theorem only holds if there are obstacles to labour and capital international mobility
-The Leontieff Paradox
-The HO theorem with skilled and unskilled labour
-The international fragmentation of production by multinationals
-The HO theorem with land and labour
-The HO theorem with slaves
-The HO theorem with labour and capital (Ohlin?s example)
-Consequences of specialization
a) On nominal rents and wages: the Lerner-Samuelson theorem.
b) On the prices of the exported and the imported goods
c) Gains from trade
d) On the purchasing power of landlords and workers: the Stopler-Samuelson theorem.
Ch. 5: INTRA-industry trade
-Trade caused by consumers? love for variety
-Trade caused by dumping
Ch. 6: The Infant-Industry Argument and Import-Substituting Industrialization ? Less Developed Countries
-The Infant-Industry Argument
-Objections to the Infant-Industry Argument
-The Effective Rate of Protection
Ch. 7: Trade Policies
-The small-country case
a) The free-trade situation
b) The effect of a tariff
c) The effect of a quota
d) The effect of a Voluntary Export Restraint
e) The effect of a subsidy to an import-competing industry
f) The effect of a subsidy to an export industry
-The large-country case
a) The effect of a subsidy to an export industry: partial and general equilibrium
b) The Common Agricultural Policy of the EU
c) The effect of a tariff: partial and general equilibrium
d) The effects of biased economic growth: general equilibrium
Ch. 8: Trade liberalization in the real world
-The political economy of protectionism
-Evolution of tariffs since WW2
-Rules of the GATT/WTO
-Agriculture, textiles and services
-The novelty brought by the WTO (1994)
Ch. 9: Economic Integration
-Five stages/types of economic integration
-Free Trade Area vs. Customs Union
-Two effects of a Customs Union: trade creation and trade diversion
Ch. 10: Monetary Integration
-Effects on the ability of a country to cope with shocks in domestic demand
-Effects on the ability of a country to cope with shocks in foreign demand
Metodologia de avaliação
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Bibliografia
Principal
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Secundária
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