EPOKA UNIVERSITY
FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES
DEPARTMENT OF ECONOMICS
COURSE SYLLABUS
2021-2022 ACADEMIC YEAR
COURSE INFORMATIONCourse Title: INTERNATIONAL ECONOMICS II |
| Code | Course Type | Regular Semester | Theory | Practice | Lab | Credits | ECTS |
|---|---|---|---|---|---|---|---|
| ECO 322 | B | 6 | 3 | 0 | 0 | 3 | 6 |
| Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) | NA |
| Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | Prof.Dr. Eglantina Hysa ehysa@epoka.edu.al , Tuesday 11.30-12.30 |
| Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | NA |
| Teaching Assistant(s) and Office Hours: | NA |
| Language: | English |
| Compulsory/Elective: | Compulsory |
| Study program: (the study for which this course is offered) | Bachelor in Business Administration (3 years) |
| Classroom and Meeting Time: | E-B32, Tuesday 08-45-11.30 |
| Code of Ethics: |
Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline" |
| Attendance Requirement: | 60% |
| Course Description: | International Economics II: International trade and finance theories and practice; foreign exchange rates, fiscal instruments and markets; alternative international currency systems and reformation proposals; the economics of currency, and financial instruments in futures markets. |
| Course Objectives: | Comprehending the causes and consequences of international trade for business acting at an international level, specific concepts such as fair trade, sustainable trade, distributional consequences of trade (inequality, structural adjustments, etc.). |
|
BASIC CONCEPTS OF THE COURSE
|
| 1 | The concept of money |
| 2 | The International Monetary System |
| 3 | Macroeconomic Policy |
| 4 | Coordination under Floating Exchange Rates |
| 5 | Optimum Currency Areas |
| 6 | The Global Capital Market |
| 7 | Growth, Crisis and Reform |
| 8 | The concept of interest rates |
| 9 | Exchange Rates |
| 10 | Floating exchange rates and fixed exchange rates |
|
COURSE OUTLINE
|
| Week | Topics |
| 1 | Money, Interest Rates and Exchange Rates (Chap. 15) --- Money demand for individuals and institutions is primarily determined by interest rates and the need for liquidity, the latter of which is influenced by prices and income. Aggregate money demand is primarily determined by interest rates, the level of average prices, and national income. Page (414-448) |
| 2 | Money, Interest Rates and Exchange Rates (Continue) (Chap. 15) --- Aggregate demand of real monetary assets depends negatively on the interest rate and positively on real national income. Page (414-448) |
| 3 | The International Monetary System, 1870-1973 (Chap. 19) --- Internal balance means that an economy enjoys normal output and employment and price stability. Page (579-641) |
| 4 | The International Monetary System, 1870-1973 (Continue) (Chap.19) --- External balance roughly means a stable level of official international reserves or a current account that is not too positive or too negative. Page (579-641) |
| 5 | Macroeconomic Policy and Coordination under Floating Exchange Rates (Chap. 14) --- Arguments for flexible exchange rates are that they grant monetary policy autonomy, can stabilize the economy as aggregate demand and output change, and can limit some forms of speculation. Page (378-413) |
| 6 | Macroeconomic Policy and Coordination under Floating Exchange Rates (Continue) (Chap. 14) --- Arguments against flexible exchange rates are that they cause expenditure switching policies, can make aggregate demand and output more volatile because of uncoordinated policies across countries, and make exchange rates more volatile. Page (378-413) |
| 7 | Optimum Currency Areas and the European Experience (Chap. 21) --- The EMS was first a system of fixed exchange rates but later developed into a more extensive coordination of economic and monetary policies: an economic and monetary union. Page (681-719) |
| 8 | Mid-Term Exam |
| 9 | Optimum Currency Areas and the European Experience (Continue) (Chap. 21) --- An optimum currency area is a union of countries with a high degree of economic integration among goods and services, financial assets, and labor markets. Page (681-719) |
| 10 | The Global Capital Market: Performance and Policy Problems (Chap. 8) --- Gains from trade of goods and services for other goods and services are described by the theory of comparative advantage.Gains from trade of goods and services for assets are described by the theory of intertemporal trade. Page (198-242) |
| 11 | The Global Capital Market: Performance and Policy Problems (Continue) (Chap. 8) --- Gains from trade of goods and services for other goods and services are described by the theory of comparative advantage.Gains from trade of goods and services for assets are described by the theory of intertemporal trade. Page (198-242) |
| 12 | Developing Countries: Growth, Crisis and Reform (Chap. 22) --- Many poor countries have extensive government control of the economy, unsustainable fiscal and monetary policies, lack of financial markets, weak enforcement of economic laws, a large amount of corruption, and low levels of education. Page (720-763) |
| 13 | Developing Countries: Growth, Crisis and Reform (Continue) (Chap. 22) --- Many poor countries have extensive government control of the economy, unsustainable fiscal and monetary policies, lack of financial markets, weak enforcement of economic laws, a large amount of corruption, and low levels of education. Page (720-763) |
| 14 | Overview of the term |
| Prerequisite(s): | NA |
| Textbook(s): | International Economics: Theory and Policy, Paul R. Krugman, Maurice Obstfeld, Pearson Addison-Wesley, 8th Ed. 2009http://wps.aw.com/aw_krgmnobstf_interecon_7/31/8118/2078401.cw/index.htm |
| Additional Literature: | International Economics, Dominick Salvator, Wiley, 9th Ed., 2007International Economics, Dennis R Appleyard, Alfred J Field, Steven Cobb, Mc Graw-Hill Ins., 6th Ed., 2008 |
| Laboratory Work: | NA |
| Computer Usage: | NA |
| Others: | No |
|
COURSE LEARNING OUTCOMES
|
| 1 | Application of foreign economic models and theories in order to better understand the causes and consequences of international trade for business acting at a international level. |
| 2 | Knowledge of distributional consequences of trade (inequality, structural adjustments etc.). |
| 3 | Knowledge of the implications of globalization on specific sectoral policies such as agricultural policy, energy policy. |
| 4 | Knowledge of specific concepts such as fair trade, sustainable trade. |
|
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution) |
| No | Program Competencies | Cont. |
| Bachelor in Business Administration (3 years) Program | ||
| 1 | Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics. | 4 |
| 2 | Apply key theories to practical problems within the global business context. | 4 |
| 3 | Demonstrate ethical, social, and legal responsibilities in organizations. | |
| 4 | Develop an open minded-attitude through continuous learning and team-work. | 5 |
| 5 | Use technology to enable business growth and sustainability. | |
| 6 | Analyze data to make effective decisions. | 4 |
|
COURSE EVALUATION METHOD
|
| Method | Quantity | Percentage |
| Midterm Exam(s) |
1
|
30
|
| Case Study |
1
|
30
|
| Final Exam |
1
|
40
|
| Total Percent: | 100% |
|
ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
|
| Activities | Quantity | Duration(Hours) | Total Workload(Hours) |
| Course Duration (Including the exam week: 16x Total course hours) | 16 | 3 | 48 |
| Hours for off-the-classroom study (Pre-study, practice) | 16 | 2 | 32 |
| Mid-terms | 1 | 20 | 20 |
| Assignments | 0 | ||
| Final examination | 1 | 30 | 30 |
| Other | 1 | 20 | 20 |
|
Total Work Load:
|
150 | ||
|
Total Work Load/25(h):
|
6 | ||
|
ECTS Credit of the Course:
|
6 | ||
|
CONCLUDING REMARKS BY THE COURSE LECTURER
|
|
At the end of each semester, the lecturer submits opinions, recommendations, observations, limitations, reservations related to the conduct of the said course during the academic year. This course will firmly adhere to the university code of conduct and ethical standards. Academic dishonesty includes representing another’s work as own work, falsification, violation of test conditions, plagiarism, etc. Students caught engaging in any academically dishonest behavior will receive a failing grade. |