International Economics

Recommended Prerequisites

Macroeconomics I and II, Microeconomics I and II and knowledge of English.  

Teaching Methods

In the theoretical classes, exposition and discussion of the syllabus contents by teacher with the presentation of films/documentaries related to issues and cases of international economics; in the practical classes, resolution of exercises by teachers with the active participation of students who will be previously selected and informed. The participation involves answers to questions on the resolution itself or on associated syllabus contents or issues related. 

Learning Outcomes

Learning objectives
The student must be capable of: 1 to explain the theorems of the classical theory of international trade from its historical and economic context; 2 to explain the basic theorems of the neoclassical theory of international trade; 3 to explain the differences between the two theoretical frameworks; 4 to explain the opening effects to international trade on the productive structures, on the welfare and on the income distribution in each one of the countries and between them; 5 to analyze the effect of the economic growth in a small open economy; 6 to confront theoretical models and the current dynamics of international trade.
Objectives about competencies
The student must be capable of: 1 to identify, to structure, to synthesize and to expose subjects of the international economy; 2 to defend arguably his opinions about the same subjects; 3 to critically learn and think with high degree of autonomy subjects related to the current dynamics of international trade.   
 

Work Placement(s)

No

Syllabus

The matters of this course unit are organized in three principal points:1) The classical theory of international trade;2) The classical theory of international trade;3) Specialization dynamics and economic growth in a small country framework

 I.Introduction

II.The classical theory of international trade

1.Adam Smith and the absolute advantage

2.Ricardo and the comparative advantage

3.The contribution of Stuart Mill

4.The international trade and the welfare

5.Comparative advantage with k commodities

III.The neoclassical theory of international trade

1.General equilibrium in an open economy

2.Factor endowments and the HOS theorem

3.The effects of international trade: the LS theorem and the SS theorem

4.The Leontief paradox

IV.Specialization dynamics and economic growth in a small country framework

1.Growth of factors of production and the production effects: the Rybczynski theorem

2.Technical progress and the production effects

3.The economic growth effect on international trade.   

Head Lecturer(s)

Margarida Rosa Silva Baila Madeira Antunes

Assessment Methods

Assessment
Periodic or by final exam as given in the course information: 100.0%

Bibliography

BOURGUIGNON, François - The globalization of inequality. Princeton : Princeton University Press, 2015.
COMÉRCIO livre e globalização : caderno de textos de apoio. Org. Margarida Antunes.  Coimbra : FEUC, 2012.
LOPES, Luís Peres - A moderna teoria neoclássica do comércio internacional e o paradoxo de Leontief : algumas questões. Coimbra : FEUC, 2007.
MIKIĆ, Mia - International trade. London : Macmillan Press Ltd, 1998. p. 3-51.
MOTA, Júlio Marques - Comércio internacional, crescimento económico e termos de troca : a análise neoclássica. Coimbra : FEUC, 2007.
MOTA, Júlio Marques - Complementos de Ricardo e a contribuição de Stuart Mill. Coimbra : FEUC, 2007.
MOTA, Júlio Marques - Preços relativos e evolução das remunerações reais dos factores. Coimbra : FEUC, 2007.
SALVATORE, Dominick - International economics : trade and finance. 11th ed.. Hoboken : John Wiley & Sons, 2014.