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COURSE INFORMATION
Course 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) Dr. Erinda Imeraj eimeraj@epoka.edu.al
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: Dr. Erinda Imeraj eimeraj@epoka.edu.al , Thursday 10:00- 11:00
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: NA
Language: English
Compulsory/Elective: Compulsory
Study program: (the study for which this course is offered) Bachelor in Economics (3 years)
Classroom and Meeting Time: Monday 09:40/ D 101
Teaching Assistant(s) and Office Hours: NA
Code of Ethics: Code of Ethics of EPOKA University
Regulation of EPOKA University "On Student Discipline"
Attendance Requirement: 75%
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.). Furthermore, through the VCL (Virtual Collaborative Learning) projects. it is aimed at offering students a new perspective of collaborative projects through MS teams as a main technical platform.
BASIC CONCEPTS OF THE COURSE
1 Exchange Rates
2 Foreign Exchange Market
3 Money
4 Interest Rate
5 Aggregate Money Demand and Supply
6 International Monetary Systems
7 Macroeconomic Policy Goals in an Open Economy
8 Financial Globalization
9 Developing Countries: Growth, Crisis, and Reform
10 VCL - Virtual Collaborative Learning
COURSE OUTLINE
Week Topics
1 Introduction to teaching method, implementation of the course and summary of topics:An introduction of each topic which will be lectured during the semester weeks, also the material needed and the requirements to succeed the course. Introduction of the VCL Project for the students, as a new possible project involvement.
2 Exchange Rates and the Foreign Exchange Market: The purpose of this chapter is to show the importance of the exchange rate in translating foreign prices into domestic values as well as to begin the presentation of exchange rate determination. Central to the treatment of exchange rate determination is the insight that exchange rates are determined in the same way as other asset prices. (Ch. 14/ pg. 381)
3 Exchange Rates and the Foreign Exchange Market: The purpose of this chapter is to show the importance of the exchange rate in translating foreign prices into domestic values as well as to begin the presentation of exchange rate determination. Central to the treatment of exchange rate determination is the insight that exchange rates are determined in the same way as other asset prices. (Ch. 14/ pg. 381) Cont.
4 Money, Interest Rates, and Exchange Rates: The chapter begins by reviewing the roles played by money. Money supply is determined by the central bank; for a given price level, the central bank’s choice of a nominal money supply determines the real money supply. An aggregate demand function for real money balances is motivated and presented. Money-market equilibrium—the equality of real money demand and the supply of real money balances—determines the equilibrium interest rate. (Ch.15/ pg. 417)
5 Money, Interest Rates, and Exchange Rates: The chapter begins by reviewing the roles played by money. Money supply is determined by the central bank; for a given price level, the central bank’s choice of a nominal money supply determines the real money supply. An aggregate demand function for real money balances is motivated and presented. Money-market equilibrium—the equality of real money demand and the supply of real money balances—determines the equilibrium interest rate. (Ch.15/ pg. 417) Cont.
6 International Monetary Systems: A Historical Overview: Chapter 19 chronicles the evolution of the international monetary system from the gold standard of 1870– 1914, through the interwar years, the post-World War II Bretton Woods regime that ended in March 1973, and the system of managed floating exchange rates that have prevailed since. The central focus of the chapter is the manner in which each system addressed, or failed to address, the requirements of internal and external balance for its participants. (Ch. 19/ pg. 589.)
7 International Monetary Systems: A Historical Overview: Chapter 19 chronicles the evolution of the international monetary system from the gold standard of 1870– 1914, through the interwar years, the post-World War II Bretton Woods regime that ended in March 1973, and the system of managed floating exchange rates that have prevailed since. The central focus of the chapter is the manner in which each system addressed, or failed to address, the requirements of internal and external balance for its participants. (Ch. 19/ pg. 589.) Cont.
8 Financial Globalization: Opportunity and Crisis: The international capital market, involving Eurocurrencies, offshore bond and equity trading, and International Banking Facilities, initially may strike students as one of the more arcane areas covered in this course. (Ch. 20/ pg. 653)
9 Midterm Exam
10 Developing Countries: Growth, Crisis, and Reform: This chapter provides the theoretical and historical background students need to understand the macroeconomic characteristics of developing countries, the problems these countries face, and some proposed solutions to these problems. (Ch. 22/ pg. 732)
11 Developing Countries: Growth, Crisis, and Reform: This chapter provides the theoretical and historical background students need to understand the macroeconomic characteristics of developing countries, the problems these countries face, and some proposed solutions to these problems. (Ch. 22/ pg. 732) Cont.
12 Assignment/ VCL Project Presentations - Students will prepare during the semester an assignment which will be presented and discussed.
13 Assignment/VCL Project Presentations - Students will prepare during the semester an assignment which will be presented and discussed.
14 Review before final exam Sessions of exercises and case discussions, which face to the students the practical side of the lectures.
Prerequisite(s): -
Textbook(s): International Economics: Theory and Policy, Paul R. Krugman, Maurice Obstfeld, Pearson Addison-Wesley, 12th Edition, 2023, ISBN 978-0-135-76685-9.
Additional Literature: Lecturer notes
Laboratory Work: -
Computer Usage: MS Teams for the VCL Group Projects
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.
5 Enhanced Teamwork and Communication Skills through the effective collaboration in virtual teams, utilizing digital communication tools to manage tasks and solve problems collaboratively.
6 Develop digital readiness and digital collaboration skills.
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution)
No Program Competencies Cont.
Bachelor in Economics (3 years) Program
1 Students define the fundamental problems of economics 5
2 Students describe key economic theories 5
3 Students critically discuss current developments in economics 5
4 Students appropriately use software for data analysis 3
5 Students critically contextualize the selection of an economic problem for research within scholarly literature and theory on the topic 5
6 Students apply appropriate analytical methods to address economic problems 5
7 Students use effective communication skills in a variety of academic and professional contexts 5
8 Students effectively contribute to group work 5
9 Students conduct independent research under academic supervision 5
10 Students uphold ethical values in data collection, interpretation, and dissemination 5
11 Students critically engage with interdisciplinary innovations in social sciences 4
12 Student explain how their research has a broader social benefit 5
COURSE EVALUATION METHOD
Method Quantity Percentage
Midterm Exam(s)
1
30
Presentation
1
20
Final Exam
1
40
Attendance
10
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 1 20 20
Final examination 1 30 30
Other 0
Total Work Load:
150
Total Work Load/25(h):
6
ECTS Credit of the Course:
6
CONCLUDING REMARKS BY THE COURSE LECTURER

In conclusion, International Economics 2 has effectively deepened students' understanding of global economic interactions, trade policies, and the ethical considerations essential for navigating the complexities of the international economic landscape. Furthermore, the VCL projects selected from some of the students resulted successful in terms of their feedbacks of the whole experience.

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