5006586: C12_International Economics

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Semester:WS 20/21
Lektionen / Semester:60.0 L / 45.0 h
Selbststudium:135.0 h



Bachelorstudiengang Betriebswirtschaftslehre (01.09.2012)


Following a short introduction to international economics, the module provides an understanding of the basic principles of international trade, trade policy and international finance. In detail the contents of the module include:

  • Definition and scope of international economics
  • Fundamentals of international trade theory and policy
    • actors and patterns in world trade
    • trade models (Ricardian, Heckscher-Ohlin, Standard)
    • imperfect competition and international trade
    • international factor movements
    • international trade policy instruments, arguments and controversies
  • Exchange rates and open economy macroeconomics
    • national income and balance of payments
    • money, interest and exchange rates
  • International monetary system and policy
    • policy goals and options
    • international coordination


    • Illustrate patterns and trends in international trade
    • Outline theories of international trade theory and policy
    • Summarize models of exchange rate determination
    • Describe international financial markets
    • Explain on theoretical grounds why countries trade and why governments may restrict international trade
    • Classify national income and balance of payments accounts
    • Apply an appropriate theoretical approach to explain real phenomena in international economics
    • Apply a theoretical approach to determine the short-run and long-run behavior of exchange rates
    • Differentiate effects of various policy intervention on international trade patterns and volumes
    • Point out the effects of changes in international exchange rates
    • Distinguish government financial intervention with monetary policy
    • Identify challenges in international trade and monetary policy
    • Forecast international trade dynamics under given policy frameworks
    • Develop scenarios for the short-run and long-term behavior of exchange rates and monetary regimes
    • Test theories of international economics to explain past developments in world trade and finance
    • Judge the applicability of theoretical approaches in international economics to evaluate and predict future behavior of market participants
    • Illustrate the principles of methods, rules, and postulates employed by international economics as a discipline
    • Comprehend basic assumptions and their effects on the modeling process of international trade theories
    • Understand the effects of certain internal and external parameter changes on the employability of different theoretical approaches
    • Apply the Gravity, the Ricardian, the Heckscher-Ohlin and the Standard Trade Model to explain patterns and volumes in international trade
    • Apply the Asset, the Monetary, and the Real Exchange Rate approach to the determination and behavior of exchange rates
    • constitute a constructive generic framework; that may be broken down in sub-processes or changed in sequences to best capture real economic phenomena
    • compare employability of different theoretical approaches for the explanation of underlying economics and compare outcomes
    • Create a set of criteria to assess different theoretical approaches
    • Construct a table of different theoretical results when analysing real phenomena depending on the assumptions and explanatory variables used in each theory
    • Explain the reasoning behind different theoretical approaches and their limitations to explain real world phenomena
    • Evaluate political actions as an outcome of different theoretical approaches in international economics
    • listen to elaborations by instructor and fellow students;
    • perceive social interactions and introduction of interactive routines
    • give answers when asked;
    • participate in interactive practice;
    • collaborate in teams to solve problems;
    • coordinate contents and critique with fellow study team
    • Discuss and compare fellow student´s contributions to case studies and analysis of real phenomena;
    • give constructive feedback
    • identify ideologies and differentiate from pure theory;
    • challenge and reflect own arguments on theoretical grounds
    • prepare and present a critique (essential arguments, central categories, limitations etc.) of theoretical analysis, highlighting open and contradictory issues of the topic
    • manage cognition, presence and awareness during lecture and seminar
    • self-evaluate contributions

Voraussetzungen (inhaltlich)


  • Illustrate and analyze functions graphically;
  • solve linear systems of equations;
  • calculate interest and compound interest

  • Know concepts of household and consumer economics including budget theory;
  • explain assumptions and allocation principles of perfect markets;
  • explain market failure and examine choice and behavior in imperfect markets

  • Explain and apply the IS-LM model;
  • demonstrates the relationship between interest rates and real output in the goods and services market and the money market;
  • explain relationsships between money supply, interest rate, inflation and output

English 1
  • understand extended speech;
  • read texts related to the field of study and appreciate different perspectives;
  • write and present clearly structured texts

Voraussetzungen (formal)

Voraussetzung für die Anmeldung zum Modul:

  • erfolgreicher Abschluss von English I
  • erfolgreicher Abschluss von weiteren Modulen des 1. Regelstudienjahres im Umfang von weiteren 45 Credits.