Course title

International Economics

Code

 INT 210

Professor

Prof. Irena Kikerkova PhD

After completing this course, students should be able to: 

• Understand the benefits arising from the regime of free trade, and to know the main differences between the classical and modern trade concepts which support free trade;
• Understand the fundamental interventionist instruments and be able to analyze the similarities and differences between them;
• Understand the difference between the Bretton Woods system and modern monetary systems and the role of international financial institutions in the world;
• Understand the basic characteristics of international financial flows and the basic segments of the capital markets;
• Be able to analyze the basic items of a country’s balance of payments, identify the sources of actual imbalance in the balance of payments and know the downsides of applying certain theoretical concepts to restore its equilibrium.

International economics is one of the fundamental economic disciplines. It is the basis for the establishment of several economic subjects which cover narrower related scientific fields of economics. This course aims to enable students to compose the mosaic of the image of the modern world and the characteristics of the economic relations that govern it. To this end, the subject matter of this course is divided into several chapters: basic theories of international trade, which should help students understand the way each national economy finds its place in the international division of labor ; the types of trade policies and their instruments, the arguments for and against their introduction and the meaning and role of international trade regulation; the characteristics of modern economic trends in the international economy; the characteristics of the modern international monetary system; capital markets; the balance of payment and the challenges posed by the process of globalization.