Semester:WS 22/23
Type:Module
Language:English
ECTS-Credits:6.0
Scheduled in semester:5
Semester Hours per Week / Contact Hours:60.0 L / 45.0 h
Self-directed study time:135.0 h
Type:Module
Language:English
ECTS-Credits:6.0
Scheduled in semester:5
Semester Hours per Week / Contact Hours:60.0 L / 45.0 h
Self-directed study time:135.0 h
Module coordination/Lecturers
- Dr. Tanja Kirn
(Modulleitung)
Curricula
Bachelor's degree programme in Business Administration (01.09.2012)Events
Description
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
Qualifications
- 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
Admission Requirements
Mathematik
- Illustrate and analyze functions graphically;
- solve linear systems of equations;
- calculate interest and compound interest
Microeconomics
- 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
Macroeconomics
- 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
Prerequisities
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.