Магистратура
2024/2025
Международная экономика
Статус:
Курс по выбору (Финансовый аналитик)
Направление:
38.04.08. Финансы и кредит
Кто читает:
Банковский институт
Где читается:
Банковский институт
Когда читается:
1-й курс, 3 модуль
Формат изучения:
без онлайн-курса
Охват аудитории:
для своего кампуса
Прогр. обучения:
Финансовый аналитик
Язык:
английский
Кредиты:
3
Course Syllabus
Abstract
The course is dedicated to the fundamentals of the theory of international trade, capital flows and exchange rate determination. It emphasizes the problems of countries’ policy coordination in regulation of the world financial system. Business cycles, sustainable growth and economic crises are covered along with their impact on world economy. The course is based on the CFA program section relating to international economics.
Learning Objectives
- The main objective is to learn the state of the art of theoretical and empirical analysis of world economy, peculiarities of international economic relations of developed and developing countries. The most urgent problems that world economy and international financial system face today are focused on.
Expected Learning Outcomes
- • calculate real exchange rates, forward exchange rates, cross-rates, international parity relations.
- • compare tariff and nontariff measures of trade protection;
- • describe the balance of payments accounts;
- • determine the factors that influence the exchange rate on the foreign exchange market;
- • determine the purchasing power parity exchange rate;
- • determine the sources and factors of sustainable economic growth;
- • explain comparative advantages of states and their potential gains from international trade;
- • recognize the difference between currency regimes;
- • recognize the difference between nominal and real exchange rate;
- • understand the nature of international parity relations;
- Define and explain basic international trade concepts (GDP, GNP, imports, exports, terms of trade)
- Differentiate between absolute and comparative advantage and their implications for trade specialization
- Identify and analyze the objectives and tools of trade policies, including their economic and political impacts
- Apply theoretical concepts to real-world examples of trade policy
- Understand the structure and significance of the BOP in analyzing a country’s economic interactions with the global economy
- Analyze the implications of current account imbalances on trade, savings, and investments
- Evaluate the role of capital and financial flows in shaping international economic relationships
- Understand the fundamental concepts of exchange rates and their role in international economics
- Differentiate between nominal and real exchange rates and explain PPP
- Evaluate the implications of various exchange rate regimes and policies
- Analyze the role of FX markets and tools in mitigating currency risk
- Understand the core international parity relations and their theoretical underpinnings
- Apply parity conditions to analyze exchange rate movements and interest rate differentials
- Evaluate deviations from parity and their implications for currency speculation, hedging, and risk management
- Understand the key drivers and measurement of economic growth
- Analyze the production function and growth accounting frameworks
- Identify the phases of the business cycle and their macroeconomic impacts
- Apply insights into growth and cycles to investment decision-making
Course Contents
- International Trade
- Trade Policy
- Balance Of Payments
- Exchange Rate
- International Parity Relations
- Economic Growth and Business Cycles
Assessment Elements
- Homework AssignmentThe homework assignment will involve several tasks with applications of the course concepts, requiring data interpretation, analytical reasoning, and solution proposals
- Final ExamThe exam will follow a CFA-style multiple-choice test format. The test will consist of 50 questions, covering all key topics discussed during the course. The exam is designed to evaluate a student’s comprehensive understanding and practical application of the course material, emphasizing analytical and problem-solving skills
Bibliography
Recommended Core Bibliography
- Minford, P., & Peel, D. (2019). Advanced Macroeconomics : A Primer (Vol. Second edition). Cheltenham, UK: Edward Elgar Publishing. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2109990
Recommended Additional Bibliography
- Baylis, J. (DE-588)139834338, (DE-576)160207436. (2011). The globalization of world politics : an introduction to international relations / John Baylis; Steve Smith; Patricia Owens. Oxford [u.a.]: Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.335482058
- Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2018). International Economics: Theory and Policy, Global Edition (Vol. Eleventh edition). New York: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1649946
- Obstfeld, M., & Rogoff, K. S. (1996). Foundations of International Macroeconomics. Cambridge, Mass: The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1452