Learning objectives
Upon successful completion of this course the students are expected to
be able to:
- understand and explain the economic rationale of the main international economic linkages
- apply economic tools to evaluate the impact of trade and investment policies on various
stakeholders;
- assess the risks and the opportunities facing nations and companies
within the context of aggressive commercial policies
- evaluate possible solutions to the most important unresolved problems. More in general:
- conduct an empirical research applying the acquired tools to a
particular context:
- communicate the results of a research through a ppt
presentation or a written report.
Prerequisites
Introductory microeconomics and macroeconomics or equivalent
Course unit content
The course focuses on the relationship between the basic aspects of international economic relations, on one side, and national policies and geopolitical factors, on the other. More particularly, it concentrates on two forms of international economic linkages - international trade and foreign direct investment – and their role in the global value chains characterizing international production structures. Features, drivers and consequences of these two forms will be approached in a detailed way both through quantitative and qualitative analysis. Commercial policies and foreign direct investment related policies will find a relevant place as weapons at the disposal of the various governments to enhance their power and international stance. In this context, special attention will be devoted to the ongoing US-China trade war and to the new tariff wave promoted by the US Administration, by analysing their consequences for all the countries involved. The economic impact of other geopolitical events, like the Suez Canal crisis or the war in Ukraine, will be the topic of dedicated seminars. Finally, the role of international organisations like the World Trade Organisation ((WTO) will be assessed in their endeavour to create a better international environment conducive to more equality and inclusion among nations.
Full programme
1. The global shift in the world economy. Comparison of data on GDP, population and Research and Development expenditures
2. International trade: determinants, trends, geographic orientation and commodity composition. Geopolitical factors and international trade
3. Foreign Direct Investment and Multinationals: motivations, networks and impact on different economies
4. The development of Global Value Chains and of the value-added trade flows
5. Main tools of commercial policies: tariffs and non-tariff barriers
6. The US-China trade war and the new tariff wave of the US Administration
7. The evolution of world trade and the role of the WTO
Bibliography
The course is based on the content of the slides uploaded progressively by the teacher on the ELLY platform and on the content of the readings indicated at the end of each set of slides.
Teaching methods
Overall teaching provision will consist of presentations-illustrations of contents by the teacher.
Interactive teaching will find a relevant place under the form of:
1)Explanations following questions by the students or prior requests sentvia e-mail;
2) Short students’ interventions;
3) Structured activities (students’ individual or collective reports, exercises or case-studies).
All the slides will be posted on the Elly platform before each lesson and then discussed with the students’ participation. Case studies and videos on the most relevant issues will be presented and talked over in class.
Students are responsible for consulting the dedicated website on a regular basis in order to know in advance the general lines of the subjects and to be able to contribute actively to class discussions.
While preparing for the lectures students are also encouraged to extend their study beyond required readings to related papers in scientific journals or newspaper articles.
Students are kindly asked to observe the following courtesy rules:
1. Attend classes on time; do not leave before the end of the class without prior explicit instructor’s approval;
2. Prepare assignments according to the deadlines.
Assessment methods and criteria
Students are strongly advised to attend all the classes. Attending students will be evaluated in a continuous way on the basis of their participation to the class discussions on the content of the slides and of the fulfilment of the assigned homework. Final grade is based on class participation (50 %) and on the results of two written intermediate short tests based upon the content of all the slides, including the readings indicated at the end of each set of slides presented up to then (50%).
The exam for non-attending students will be written and based upon the content of all the slides, including the readings and videos indicated at the end of each set of slides related to the whole course.
The ‘cum laude’ will be given only in case of exceptional performances in all the aspects of the evaluation. Final grades will be published on the Esse3 platform within two weeks from the date of the end of the course for the attending students and within two weeks from the date of the exam for the non-attending students.
Other information
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2030 agenda goals for sustainable development
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