INTERNATIONAL POLITICAL ECONOMY MOD. 2

This module complements International Political Economy MOD. 1. It contributes to the fulfilment of the program’s learning objectives in the field of economics for the "Global Studies" and "European Union Studies" tracks. This module aims at integrating the first module by touching topics such as the theory of international trade, international trade policies, exchange rates, and international macroeconomic policy. The course is entirely taught in English.

The course provides students with some basic theoretical tools useful to illustrate what are the reasons explaining trade patterns among countries, what are the gains from trade, what mechanisms determine the exchange rate between currencies and the relationship between interest rates, exchange rates and money supply. Students will be able to apply the tools provided to the analysis of issues concerning trade policies and international macroeconomic policy.

The knowledge of the topics touched within module 1 is NOT a pre-requisite for module 2. The students must meet the minimum credit requirements for the Master's Degree Programme in Comparative International Relations.

International trade and trade policies
- The Ricardian model
- The specific factors model
- The Heckscher-Ohlin model
- The standard trade model
- Tariffs and quotas
- The political economy of trade policy

Topics in open macroeconomics and international macroeconomic policies
- National income accounting and the balance of payments
- Exchange rates and the foreign exchange market
- Money, interest rates, and exchange rates
- International monetary systems

Krugman, P., M. Obstfeld and Marc Melitz: "International Economics: Theory and Policy", 11th edition. Pearson Eds.

If needed, references to additional teaching material (articles, reports, slides, etc.) will be provided in class and on Moodle.

A final in-person closed-book written exam will be taken to verify that the students have acquired the necessary knowledge. The assessment of the two modules is performed through a single comprehensive exam (see the webpage of MOD I for information regarding the assessment of the first module of this course).
The final grade of the course (12 CFU) is calculated considering an equal weight to the two modules of the course.
Module II exam: Multiple choice questions and open-question (short answers).

written

The lecturer has a duty to ensure that the rules regarding the authenticity and originality of exam tests and papers are respected. Therefore, if there is suspicion of irregular conduct, an additional assessment may be conducted, which could differ from the original exam description.

The minimum passing score is 55/100, corresponding to a grade for the module equal to 18/30. The minimum score for a 30/30 is 90/100; the minimum score for a 30/30 cum laude is 94/100.

Grades are assigned irrespective of the attendance of the course in the following way:

A. Grades in the 18-22 range require:
- sufficient understanding of the course material
- limited ability to perform independent analysis using the theoretical tools
- sufficient communication ability and use of the appropriate jargon

B. Grades in the 23-26 range require:
- good understanding of the course material
- some ability to perform independent analysis using the theoretical tools
- good communication ability and use of the appropriate jargon

C. Grades in the 27-30 range require:
- excellent understanding of the course material
- good ability to perform independent analysis using the theoretical tools
- excellent communication ability and use of the appropriate jargon

D. A grade of 30/30 cum laude is awarded only if the student demonstrate a profound and extensive understanding on the course material, an outstanding ability to apply this knowledge to analyze key aspects of US and European political process in an independent way, as wel as excellent communication skills and use of the appropriate jargon

Traditional front lectures, seminars and class discussions. Class recordings are not going to be made available except if exceptional circumstances occur.

This syllabus is provisional and may be subject to changes. Any change will be made public on the Moodle page of the course.