Political Economy of International Trade Relations
Code | Completion | Credits | Range | Language |
---|---|---|---|---|
32BE-P-PETR-01 | Z,ZK | 6 | 2P+2C | English |
- Relations:
- It is not possible to register for the course 32BE-P-PETR-01 if the student is concurrently registered for or has already completed the course U16E0105 (mutually exclusive courses).
- During a review of study plans, the course U16E0105 can be substituted for the course 32BE-P-PETR-01.
- Course guarantor:
- Helmuth Yesid Arias Gomez
- Lecturer:
- Helmuth Yesid Arias Gomez
- Tutor:
- Helmuth Yesid Arias Gomez
- Supervisor:
- Institute of Management Studies
- Synopsis:
-
Throughout the course, an interesting contrast between the inspiring trade theory and the alternative instances of economic policy will be done.
Several topics dealing with the economic policy will be discussed: External Balance, Exchange Rate Policy, Free Markets vs Strategic Trade Policy.
A modern approach will tackle the Balance of Payment analysis, emphasising the good and service transactions vs the capital flows registered in the capital account transactions.
The methodology introduces to students the important section of International political economy (IPE) relating to international trade. The course will focus on core issues of international trade and domestic policies, such as diverse development strategies, the role of multinational corporations, and the policies of protectionism or free trade. A set of case studies relating to the present state of affairs of international trade will be analyzed, including the braking issue of Strategic Trde Policy and the Industrial promotion, purposely implemented by developed countries..
- Requirements:
-
Attendance will be mandatory, and participation in discussions will be encouraged, Students must be prepared beforehand for each session, The grading process will be based on the final exam, but for the preliminary assessment the work at home will be considered.
Macroeconomics, Microeconomics, Fundamentals of Economics
- Syllabus of lectures:
-
The student will be guided in consulting the information sources about International Trade and will be oriented for interpreting the statistical information. Data will be downloaded from EUROSTAT, CSO, IMF and so on.
The student will recognize the widespread statistical data and will be able to interpret it. Alongside, the economic policy analysis will provide the principles for understanding the formulation of policies.
During the term the student will overhaul the tools of economic policy and will understand the past stances of policy, implemented during the international financial crises.
- Syllabus of tutorials:
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A comparison of different theoretical approaches inspiring the formulation of economic policy
The Ricardian Tradition and the subsequent development of the Hecksher Ohlin Model.
The New Trade Theory and the Evolution of Trade Patterns.
New Economic Geography and Regional Specialization
Intra-industry trade and the trade profile in the developed countries
Diverse explanations to the international specialization and trade patterns
Exchange rate policy and International Trade
Diverse Regimes of Exchange-Rate Policy
The Optimum Currency Areas
Dollarization as a resort for stabilizing the economy
The impossible trinity and the macroeconomic policy
Macroeconomic consistency and External Sector
Monetary disarray and external crises
The Monetary Approach of Balance of Payments
Internal balances and extern sector results
The structure of the Balance of payments
The Current Account and the Capital Account of Balance of Payments
The validity of the Strategic Trade Policy
Free markets principle vs Strategic Trade Policy
- Study Objective:
-
The student should be competent for reconciling the long tradition in the field of the Theory of Trade,
with the practical cases related with specilization and participation in the settlement of trade transactions.
To compare the formulation of Economic Policy with the underlying theoretical frame inspiring the implementation of the Economic Policy.
To handle the political-economic framework for regulating and the support of international trade relations
comprehend crucial concepts relating to international trade relations
To be informed about some actual debates and topics relating to the international trade
To understand the international trade operation, its principal actors and some substantive political issues related to it
To keep up the case analysis illustrating the diverse stances of economic policy
- Study materials:
-
Compulsory:
Paul Krugman , Maurice Obstfeld , Marc Melitz (2022). International Trade: Theory and Policy, Global Edition 12th Edición. Pearson.
Marijn A. Bolhuis (2023) The Costs of Geoeconomic Fragmentation.
The Return of Industrial Policy. Finance and Development. International Monetary Fund. 60 (2).
Irwin Douglas (2023) The Return of Industrial Policy. Finance and Development. International Monetary Fund. 60 (2).
Arias-Gomez, H. (2023). Space and Poduction Specialization. In: Arias-Gomez, H. & Antosova, G. (Ed). Considerations of Territorial Planning, Space, and Economic Activity in the Global Economy. IGI Global Publisher. Hershey.
Kruger, Anne. (2020). International Trade: What Everyone Needs to Know. Oxford University Press. Oxford.
Krugman Paul, Obstfeld Maurice and Melitz, Marc. (2017) International Economics. 10th Edition. Pearson
Paul Krugman (2008) The increasing returns revolution in trade and geography. Nobel Prize Lecture Stockholm.
Eichengreen, Barry (2019). Towards a New Enlightenment? A Transcendent Decade. Openmind. University of California, Berkeley. https://www.bbvaopenmind.com/wp-content/uploads/2018/12/BBVA-OpenMind-Barry-Eichengreen-The-Past-Decade-and-the-Future-of-the-Global-Economy.pdf
Royal Swedish Academy of Sciences. (2008). Trade and Geography Economies of Scale, Differentiated Products and Transport Cost. Internet site accessed on December 2021: http://nobelprize.org/nobel_prizes/economics/laureates/2008/index.html
Pflüger M. and Tabuchi T. (2016). Comparative Advantage and Agglomeration of Economic Activity. Institute for the Study of Labor. Discussion Paper 10273. Bonn.
Montiel Peter. (2009). International Macroeconomics. Wiley-Blackwell. New Jersey.
Brakman, Steven; Garretsen, Harry and van Marrewijk, Charles. (2009). The New Introduction to Geographical Economics. Cambridge University Press. ISBN: 9780521698030.
Steven Brakman and Harry Garretsen (2009) Trade and Geography: Paul Krugman and the 2008Nobel Prize for Economics. Spatial Economic Analysis, Vol. 4, No. 1. Routlege. pp 5-23.
Recommended:
Arias-Gomez Helmuth Yesid & Antošová Gabriela (2023). Regional manufacturing in the Czech Republic. Urban, Planning and Transport Research. VOL. 11, No. 1. Taylor and Francis.
Eichengreen, Barry. (2018). The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era. New York: Oxford University Press. Oxford
Jing Linbo (2017). The Development of the Strategic Trade Policy and Its Application in China. The Chinese Economy, 50. pp. 97-111
Cordes, Alexander, Gehrke Birgit, Rammer Christian, Roman Römisch, Schliessler Paula and Wassmann Pia (2016). Identifying Revealed Comparative Advantages in an EU Regional Context. The Vienna Institute for International Economic Studies. Research Report 412. Vienna. https://wiiw.ac.at/identifying-revealed-comparative-advantages-rcas-in-an-eu-regional-context-pj-121.html.
Bilgin Orhan (2012). Strategic Trade Policy Versus Free Trade. Procedia - Social and Behavioral Sciences 58. pp. 1283 - 1292.
Giancarlo Corsetti (2008). A Modern Reconsideration of the Theory of Optimal Currency Areas. Economic Papers Directorate-General for Economic and Financial Affairs. European Commission. Brussels. https://ec.europa.eu/economy_finance/publications/pages/publication12229_en.pdf
Agenor R, Montiel Peter (2002). Development Macroeconomics. Princeton University Press. New York.
Mankiw Gregory. Macroeconomics (2010). Worth Publishers.
Mundell Robert (2003) The Significance of the Euro in the International Monetary System. American Economist. Fall. 47,2. pp. 27-39.
Mundell Robert (1999) A reconsideration of the 20th Century. Nobel Prize Lecture Stockholm.
- Note:
- Time-table for winter semester 2024/2025:
-
06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon Tue Wed Thu Fri - Time-table for summer semester 2024/2025:
- Time-table is not available yet
- The course is a part of the following study plans:
-
- B-EM-P prezenční studium od 20/21 (compulsory elective course)
- B-EM-P prezenční studium od 21/22 (compulsory elective course)
- B-EM-P prezenční studium od 22/23 (compulsory elective course)
- B0413P050061 Ekonomika a management (profesní studijní program) - počínaje od ZS 2023/2024 (compulsory elective course)
- B0413P050061 Ekonomika a management (OZ101 Marketing) od ZS 2023/2024 (compulsory elective course)
- B0413P050061 Ekonomika a management (OZ102 Personální management) od ZS 2023/2024 (compulsory elective course)
- B0413P050061 Ekonomika a management (OZ103 Řízení firemních procesů) od ZS 2023/2024 (compulsory elective course)
- B0413P050061 Ekonomika a management (OZ104 Účetnictví) od ZS 2023/2024 (compulsory elective course)
- B0413P050061 Ekonomika a management (OZ105 Manažerská informatika) od ZS 2023/2024 (compulsory elective course)
- B0413P050061 Ekonomika a management (OZ106 Obchodní podnikání) od ZS 2023/2024 (compulsory elective course)