Download Introduction to International Economics

UNIVERSITY OF NATIONAL AND WORLD ECONOMY
COURSE TITLE: INTRODUCTION TO INTERNATIONAL ECONOMICS
SEMESTER: (WINTER or SUMMER)
TEACHER’S NAME: Associate Professor Emil Himirsky, PhD
OFFICE:
E-MAIL:
1. ANNOTATION
Preliminary requirement is the students to have passed exams on Macro and Micro Economics.
Content of the course:
The lecture course includes the following parts:
I.
II.
III.
IV.
Classical and contemporary theory of foreign trade.
Foreign trade policy.
International movement of the factors of production, economic growth and economic
development.
International currency markets, exchange rates and balance of payment.
The structure of all lecture courses on World Economics /International Economics/ in the USA and
Europe is identical with ours.
The first part includes in particular the principle of absolute and relative advantages, the questions
of supply and demand in international trade, the problems of specialization and distribution of the
gains from trade. Examines is also the law of reciprocal demand, the economic sense and drawing of
offer curves, the theoretical model Heksher-Olin and the Leontiev paradox. In this part also is
explained the essence of the economic growth and the interrelation “ international trade –
economic development”.
The second part includes the themes connected with the theory of tariffs, the mechanism of the
tariff action, the effective rate of protection, the classification and the specific character of the
action of non-tariff regulators in international trade. Practical importancehave the questions
connected with the application of the most favored nations clause in GATT and now WTO. Analyzed
are also the forms on integration and their importance on foreign trade development.
The third part is devoted to the international movement of the factors of production, the migration
of labor force, international movement of capital, the transnational corporations. In this part is also
explained the essence of the economic, growth, the peculiarities of the economic development in
the developing countries, the commodity export as an engine of economic development. Special
attention is paid to the external sources of economic development.
The fourth last part examines in particular the essence of the balance of payment in closed and
open economy, the theories of the rate of exchange, the functions of the international currency
markets, the rates of exchange, the currency risk, the interest rates and the rates of exchange, the
price levels of the rates of exchange, the inflation and the dynamics of the rates of exchange. Also
are examines the international currency systems, including the essence, the forms and the stages of
their development, the global capital markets.
UNIVERSITY OF NATIONAL AND WORLD ECONOMY
2. LANGUAGE OF TEACHING
ENGLISH
3. COURSE CONTENT (TOPICS)
Classical Theory of International Trade
The Principle of the Comparative Advantages
Modern Theory of International Trade
Reciprocal Demand Law. Offer Curves
Heksher-Olin Theoretical Model
Empirical Prove of the Ricardo and Heksher-Olin Models
Foreign Trade Policy. Tools of the Foreign Trade policy.
Tariffs and Tariff Policy. Nominal and Effective Rate of Protection
Non-Tariffs Barriers in International Trade
Most – Favored Nations Principle. GATT/WTO and the International Trade Liberalization
Economic Integration and International Trade
International Movement of the Factors of Production
Economic Growth and Economic Development
Balance of Payments
International Currency Markets, Foreign Exchange Rates and International Currency Systems
4. METHODS OF TEACHING
The teaching is done trough the combination and expand of lectures with seminars, solving of
cases. Power point, slides and other technical devices are used.
5. LEARNING OUTCOMES
The course will provide basic knowledge to students on the classical and the contemporary theory of
international trade, on the contemporary means of foreign trade policy, on problems of
liberalization of foreign trade within GATT and WTO, on problems connected with the international
movement of the factors of production, on economic growth and economic development, on
international currency markets, foreign rates of exchange and the balance of payments.
The knowledge and the skills on International Economics are necessary for the successful studying of
the material on the other compulsory and faculty subjects.
The instruction forms the theoretical basement, necessary for the professional training of the
students from the specialization of “International Economic Relations”, as well as for the students
from other economics specializations with international profile.
6. ASSESTMENT METHODS
Course work is assigned on international economic problems to each student /20-30 pages
ASSESSMENT METHODS: EXAM –70%, COURSE WORK –20%, PRESENCE –10%
Excellent /6/
Very good /5/
Good /4/
Fair /3/
A
B
C
D
E
80%
75%
70%
60%
Credits are awarded as provided for in the plan
Poor /2/
FX
F
No credits awarded
50%
UNIVERSITY OF NATIONAL AND WORLD ECONOMY
7. REFERENCES (MANDATORY AND RECOMMENDED)
А. BASIC
Paul Krugman, Maurice Obstfeld, Marc Melitz, International Economics, Theory and Policy, 9 ed.,
Pearson, UK, 2011
Емил Химирски, Международен икономикс, УИ Стопанство, 1991
Eмил Химирски. Икономика на развитието. УИ Стопанство. 2006
Димитър Стойков, Международна търговия, 1996
B. ADDITIONAL
Chocholiadis M., International Economics, McGrow Hill., 1990
Dominick Salvadore, International Economics, John Wiley &Sons Inc., 2007
Steve Suranovic, International Economics –Theory and Policyq Flat World Knowledge 2010