International Economic Issues

    Course Code: 
    4162
    Semester: 
    6th
    Elective Courses
    Professor: 

    KALYVITIS SARANTIS / KATSIMI MARGARITA

    Number of credits allocated: 6 ECTS Credits

    Objective of the course (expected learning outcomes and competences to be acquired)

    Upon successful completion of the course, students will be able to:

    a. Have developed a set of analytical tools and be able to apply these to interpret and address issues of open-economy macroeconomic analysis.
    b. Describe and analyze the underlying balance of payments accounts and how the net investment position of a country is measured.
    c. Understand key determinants of the current account balance, and analyze the effects of such disturbances in the adjustment process of the current account and on international capital movements.
    d. Evaluate the deficits / surpluses of balances, analyzing the conditions under which they can be considered desirable and/or optimal.
    e. Describe how to measure trade and/or financial integration and their significance for the globalization process.
    f. Evaluate the key determinants behind the process of trade integration of countries and explain how this process changes over time.
    g. Understand why some countries are clearly more financially integrated than others, and explain the factors behind the differences.
    h. Explain and also measure the potential effects (benefits and/or costs) of the globalization process on prosperity.

    Prerequisites: There are no formal prerequisites, but it is recommended that students have a sound knowledge of microeconomics, macroeconomics, econometrics and international economics.

    Course contents

    The following topics are covered:

    1. Introduction: Global Financial Markets
    2. Globalization and Political Economy
    3. Balance of Payments Accounting
    4. Current Account Balance: Key Determinants
    5. Global Imbalances
    6. Exchange Rate Regimes and Central Bank Intervention
    7. Fiscal Policy and Stabilization in the Eurozone
    8. Global Financial Crises
    9. Firms in the Global Economy
    10. New Technologies in the International Environment
    11. International Migration

    Recommended reading

    • Krugman, P.R., Obstfeld, M. και Melitz, M. (2023) International Economics: Theory and Politics (5 th edition, Kritiki )
    • Schmitt-Grohé, S., Uribe, M. and M. Woodford (2022). International Macroeconomics: A Modern Approach, Princeton University Press (στα αγγλικά).

    Teaching methods: Lectures and essay presentations

    Assessment methods: Final written exam (70%), essay (30%)

    Language of instruction: Greek, English