International Economics is the branch of economics that studies the economic relationships between different countries, focusing on trade and monetary flows. For this reason, the inclusion of the course in the curriculum will provide students with sufficient knowledge to understand the political and economic influence, enabling them to make coherent decisions in a globalized world. It will enhance the student's understanding of the role played by both the public and private sectors in economic transactions and their impact at both the local and international levels. The course will contribute to the interpretive capacity of students regarding the economic, political, and social reality, allowing them to understand motivations and identify trends as a result of actions taken by public and private actors within the system.
BLOCK 0: INTRODUCTION
Topic 1: International Economics
1.1 International economics and economic theory.
1.2 Globalization. Multinational corporations and international transactions.
1.3 Scope and limits of international economics.
BLOCK 1: INTERNATIONAL TRADE
Topic 1: International Trade
1.1 Absolute advantage and Comparative advantage.
1.2 Trade and income distribution.
1.3 Intra-industry trade.
1.4 International exchanges.
Topic 2: Trade Policies
2.1 Instruments of trade policy.
2.2 Barriers to free trade.
2.3 Rules of international trade.
BLOCK 2: FINANCING AND INTERNATIONAL MONETARY FLOWS
Topic 1: Exchange Rates
1.1 Issues in open economies.
1.2 Exchange rates.
1.3 Determination of exchange rates in the short and long term.
1.4 International financial system: Factors.
Topic 2: Interdependencies in the Global Economy
2.1 Income, trade, and interest rates.
2.2 Competitiveness and prices.
2.3 Interdependencies and cooperation.
2.4 Interdependencies and coordination.
2.5 International equilibrium and imbalances.
BLOCK 3: INTEGRATION
Topic 1: Trade Integration
1.1 Introduction to regional integration.
1.2 Integrated markets in a global world.
1.3 Dynamics of integrated markets.
1.4 Policies.
Topic 2: Monetary Integration
2.1 Monetary integration.
2.2 The path towards European monetary integration.
2.3 The same currency ? advantages and disadvantages?
2.4 The Euro. Is it an optimal currency? Its rules of the game.
The course consists of two parts: a series of lecture sessions where the main theoretical content will be delivered, and a series of practical sessions. For each lecture, readings will be provided that refer to the content of the session. The content covered in each session will be subject to evaluation in the final exam.
The practical sessions are structured around the discussion of relevant (mandatory) readings on the topics of the different units. Students in the course, working in groups or individually, will be responsible for presenting and discussing these texts each week. As outlined in the evaluation criteria (below), participation in the seminars will be assessed. This means that students who are not presenting during a particular week must still prepare the readings, and all groups are expected to ask questions about the texts presented by their peers.
Some practical sessions will be dedicated to monitoring and presenting parts of the research paper that students will need to submit at the end of the course as part of continuous assessment. The guidelines for this paper will be explained on the first day of class.
In general, students are expected to attend class, and the development of critical thinking and analytical skills will be encouraged through debates on current political affairs related to international politics. Each class will include open debates to assess knowledge acquisition and critical thinking development. Guest lectures will also be held to explore topics in more depth and connect course content to practical cases.
In order to be evaluated in the regular exam session, all activities subject to evaluation must have been completed. Assignments and other evaluable activities must be submitted by the deadlines set by the instructor. If, for any reason, duly justified and communicated to the instructor, the activities could not be submitted within the established period, they may still be submitted before the date of the final exam for the course, so that the instructor can grade them. However, in this case, the instructor is not obliged to provide feedback on those activities.
Additionally, students have the right to sit the final written exam, even if they have not submitted all other required activities. However, the final grade for the course will only be calculated if all assignments have been submitted, and in accordance with the evaluation criteria and weightings established in this course guide. If any required activity has not been submitted or completed, the student will appear in the official records for the session as ?Not presented.?
EXTRAORDINARY EXAM SESSION
The evaluation criteria are the same as for the regular session, which means that all course-related evaluable activities must be submitted. Grades for completed activities will be preserved while students complete any outstanding work. The same weighting criteria used in the regular evaluation will apply. This policy is valid only for the current academic year. If the student does not pass the extraordinary session, re-enrollment will require repeating the entire course.
ON THE USE OF ARTIFICIAL INTELLIGENCE
Use of AI tools: If AI tools are used in any activity, a paragraph must be included explaining how AI was used and what prompts or instructions were given to obtain the results. Failure to do so constitutes a violation of academic honesty policies.
Final test: 40%
Final essay: 40%
Attendance: 20%
Frieden, J. A., Lake, D. A., & Broz, J. L. (2017). International Political Economy. Perspectives on Global Power and Wealth (6th ed.). New York: Norton.
Krugman, P., Obstfeld, M., & Melitz, M. J. (2012). Economía internacional: Teoría y política (9a. ed.). Madrid: Pearson.
O?Brien, R. and Williams, M. (2020) Global Political Economy: Evolution and Dynamics. London: Bloomsbury.
Oatley, T. (2023). International Political Economy (7th ed.). New York and London: Routledge.
Ravenhill, J. (2016). Global Political Economy (5th ed.). Oxford: Oxford University Press.
Tugores, J. (2006). Economía internacional: globalización e integración regional. Madrid: McGraw Hill.
Alonso, J. A. (2009) Lecciones sobre economía mundial, Pamplona, Thomson-Civitas.
Durán, G., García, J.M. y Sánchez, A. (2013): Estructura económica y relaciones internacionales. Madrid, Garceta.
García, J. M., Durán, G. y Sánchez, A. (2011): La economía mundial en transformación. Madrid, Paraninfo.
Kung, H. (1999): Una ética mundial para la economía y la política. Editorial Trotta.
Tamames, R. (2012): La economía internacional en el siglo XXI, Almería, Fundación Cajamar.
Sachs, J. (2008): Economía para un planeta abarrotado. Editorial Debate, Barcelona.