International Economics
This course provides an analysis of the economic relationships between countries, covering theoretical, empirical and policy issues. The first part deals with international trade theory, while the second part covers issues of international trade policy. In the course, we try to deal with a number of issues, such as why countries do trade with each other, what are the effects of trade on welfare and on the income distribution, what are the effects of various barriers to trade and economic integration, what means of economic policy do the countries use and what are the effects by the implementation of these policy tools in the national and international economy. The analytical context of the course is as follows. International Trade Theory: Introduction to International Economics, Labor Productivity and Comparative Advantage: The Ricardian Model, Specific Factors and Income Distribution, Resources and Trade: The Heckscher – Ohlin Model, The Standard Trade Model, External Economies of Scale and the International Location of Production, Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises; International Trade Policy: The Instruments of Trade Policy, The Political Economy of Trade Policy, Trade Policy in Developing Countries, Controversies in Trade Policy.