ECONOMIA DEI MERCATI INTERNAZIONALI

Knowledge and understanding:

To provide concepts and theories functional to understand the distinguishing features of open economies and the actions of economic agents which determine those features.

Applying knowledge and understanding:

To develop and improve the ability of analysing real-world events critically by keeping as reference the theories discussed.

Language Skills:

To learn how to express correctly and coherently complex concepts regarding the world-economy events and developments.

Making judgements:

To learn how to assess the consequeces of a certain evolution of some economic varaibles for a country’s competitiveness.

Learning skills:

To learn to detect the salient features of an issue in order to use the right resources to analyse it.

Face lectures in a teaching room (90%).

Tutorials in the computer labs (10%).

Open economies [module I]

• Preliminary concepts
• The balance of payments

​International exchange of financial assets [module I]

• Exchange rates and the foreign exchange market
• The interaction between the monetary and the foreign exchange markets (an Asset approach)

​Price level, exchange rate and the real economy [module I]

• The price level, the real exchange rate and the nominal exchange rate in the long-run.
• The aggregate demand and the exchange rate’s effect on the current account balance: the short-run equilibrium. ​

International capital markets [module II]

• The functioning of the international capital markets
• Regulation and measures to safeguard the financial system.
  • A discussion of 2007-09 financial crisis.

Issues in international economics [module II]

• The Markowitz model for the selection of the optimal portfolio in case of risk-adverse agents
• Data for the analysis of the International Markets.

​An introduction to international trade [module III]

• The must-know about international trade.
• The Gravity model.
  • An example of estimation for the OECD countries.
• The comparative advantage concept. ​

Intra-sectoral trade: economies of scale [module III]

• External economies of scale and international trade.
  • The importance of distance and the agglomeration of production: economic geography.
• Internal economies of scale and international trade.
  • Heterogeneous firms.​

Firms in the global economy [module III]

• Multinational enterprises.
• Foreign Direct Investments.
• Outsourcing