5610870: C21_International Economics (VT IME) - Lecture

Qualifications

• • illustrate patterns and trends in international trade
  • outline theories of international trade theory and policy
  • summarize models of exchange rate determination
  • describe international financial markets
  • explain on theoretical grounds why countries trade and why governments may restrict international trade
  • classify national income and balance of payments accounts
  • apply an appropriate theoretical approach to explain real phenomena in international economics
  • apply a theoretical approach to determine the short-run and long-run behavior of exchange rates
  • differentiate effects of various policy intervention on international trade patterns and volumes
  • point out the effects of changes in international exchange rates
  • distinguish government financial intervention with monetary policy
  • identify challenges in international trade and monetary policy
  • forecast international trade dynamics under given policy frameworks
  • develop scenarios for the short-run and long-term behavior of exchange rates and monetary regimes
  • test theories of international economics to explain past developments in world trade and finance
  • judge the applicability of theoretical approaches in international economics to evaluate and predict future behavior of market participants
• • illustrate the principles of methods, rules, and postulates employed by international economics as a discipline
  • comprehend basic assumptions and their effects on the modeling process of international trade theories
  • understand the effects of certain internal and external parameter changes on the employability of different theoretical approaches
  • apply the Gravity, the Ricardian, the Heckscher-Ohlin and the Standard Trade Model to explain patterns and volumes in international trade
  • apply the Asset, the Monetary, and the Real Exchange Rate approach to the determination and behavior of exchange rates
  • constitute a constructive generic framework; that may be broken down in sub-processes or changed in sequences to best capture real economic phenomena
  • compare employability of different theoretical approaches for the explanation of underlying economics and compare outcomes
  • create a set of criteria to assess different theoretical approaches
  • construct a table of different theoretical results when analysing real phenomena depending on the assumptions and explanatory variables used in each theory
  • explain the reasoning behind different theoretical approaches and their limitations to explain real world phenomena
  • evaluate political actions as an outcome of different theoretical approaches in international economics
• • listen to elaborations by instructor and fellow students;
  • perceive social interactions and introduction of interactive routines
  • give answers when asked;
  • participate in interactive practice;
  • collaborate in teams to solve problems;
  • coordinate contents and critique with fellow study team
  • discuss and compare fellow student´s contributions to case studies and analysis of real phenomena;
  • give constructive feedback
  • identify ideologies and differentiate from pure theory;
  • challenge and reflect own arguments on theoretical grounds
  • prepare and present a critique (essential arguments, central categories, limitations etc.) of theoretical analysis, highlighting open and contradictory issues of the topic
• • manage cognition, presence and awareness during lecture and seminar
  • self-evaluate contributions