B028049 - INTERNATIONAL AND FINANCIAL ECONOMICS

ENGLISH

The main aim of the course is to help understand specific features of the current wave of globalization, slowbalization or deglobalization as well as countries' -and firms'- reactions to it. The course is divided into two parts.

Feenstra, Robert C. and Alan M. Taylor (2017), International Economics, 4th edition, Worth Publisher ISBN-10: 1-319-06173-7; ISBN-13: 978-1-319-06173-9; Format: Paper Text, 464 pages

Lectures deal with a number of theoretical and empirical issues in order to address questions such as: To what extent is slow-balization a new phenomenon? Is rising north-south trade responsible for increasing inequalities in the north? What are the causes and consequences of changes in the terms of trade for developing countries? (with a focus on food prices and raw materials) Where are we in the negotiation at WTO? Are services so different from manufacturing? What are the impacts of sanctions? What is the effect of offshoring on employment? And on productivity? How does migration fit into this picture? Are migrants complementary or substitutes to trade and offshoring? How-if- do exporting firms differ from multinationals? Is there an heterogeneity between exporters? And between foreign investors? How important are imported inputs for heterogeneous international firms? Do institutions and cultural differences affect international specialization? To what extent?

Recommended: international economics (I level) (but the course will recap the basics) and a Math course (undergraduate level).

The first part of the course consists of traditional lectures (with the support of slides, book chapters and articles). The second half of the course includes student seminars. Students are required to read articles, comment on data and link data and theory.
Key topics include: •globalization/deglobalization: useful definitions; •statistical and economic indicators of globalization, specialization, imbalances; •Ricardo's model of International Trade (brief); •Hescker-Olin model; •imperfect competition models; •geography models; •movements of capital and workers; •offshoring and outsourcing; •FDI and multinational; •R&D internationalization; •migrations; •trade policies and international agreements.

none

Written exam (including multiple choice questions, definitions, open questions and exercises) and a ppt presentation in class (or a 3000 word essay on an agreed topic)

The main aim of the course is to help understand specific features of the current wave of globalization, slowbalization or deglobalization as well as countries' -and firms'- reactions to it. The course is divided into two parts. The first, after an introduction on how to measure globalization and deglobalization, also accounting for the value added in each country, analyzes historical trends in integration (trade, capital, people, ideas) on the base of existing models of international trade (from Ricardo to models of heterogeneous firms). The second part illustrates new issues raised by the globalization process, such as offshoring, outsourcing, global value chains, trends of slow balization and the theories recently developed to address them ("new new" trade theories). It also emphasises the role of imported inputs for the competitiveness of a country.
More specifically, lectures deal with a number of theoretical and empirical issues in order to address questions such as: To what extent is globalization a new phenomenon? Do we see a deglobalization trend in the world economy? Is rising north-south trade responsible for increasing inequalities in the north? What are the causes and consequences of changes in the terms of trade for developing countries? (with a focus on food prices and raw materials) Where are we in the negotiation at WTO? Are services so different from manufacturing? What is the effect of offshoring on employment? And on productivity? How does migration fit into this picture? Are migrants complementary or substitutes to trade and offshoring? How-if- do exporting firms differ from multinationals? Is there an heterogeneity between exporters? And between foreign investors? How important are imported inputs for heterogeneous international firms? Do institutions and cultural differences affect international specialization? To what extent?
The first part of the course consists of traditional lectures (with the support of slides, book chapters and articles). The second half of the course includes student seminars. Students are required to read articles, comment on data and link data and theory.
Key topics include: •globalization/deglobalization: useful definitions; •statistical and economic indicators of globalization, specialization, imbalances; •Ricardo's model of International Trade (brief); •Hescker-Olin model; •imperfect competition models; •geography models; •movements of capital and workers; •offshoring and outsourcing; •FDI and multinational; •R&D internationalization; •migrations; •trade policies and international agreements.

see below for the SDGs dealt with in the course; focus is going to be on inequality and trade (and trade to fight poverty)