International Trade

Code:

1EC305

Acronym:

CINT

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2021/2022 - 1S

Active?	Yes
Responsible unit:	Agrupamento Científico de Economia
Course/CS Responsible:	Bachelor in Economics

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LECO	259	Bologna Syllabus since 2012	3	-	6	42	162

Teaching language

Portuguese and english

Objectives

The course aims to provide students with the necessary tools to understand the phenomena of globalization of markets and of production that currently characterize the world economy. As well as provide students with the ability to evaluate the impact of trade policy on the economy and on its multiple stakeholders.

Learning outcomes and competences

By the end of the course students should be able to:

i) Contextualize International Trade as a branch of Economics, recognizing the relevance of International Trade and of Foreign Direct Investment as major phenomena in the global economy.
ii) Interpret statistical data and indicators of International Trade.
iii) Understand why countries trade among themselves, by knowing the different theories taht explain trade flows between countries.
iv) Understand the role of wages. productivity and exchange rates in the determination of the specialization patters of countries.
v) Understand the different implications of the theory of international trade on firms' location decisions.
vi) Describe the policy instruments used to influence international trade flows and evaluate the respective market and welfare effects.
vii) Identify and explain the arguments supporting the benefits of international trade; and the argumemnts explaining in which circumstances can protectionist measures be better than free trade.
viii) Describe the developments of the international trade system and understand the implications of such developments on companies' strategies.

Working method

Presencial

Pre-requirements (prior knowledge) and co-requirements (common knowledge)

Frequency of at least one course in macro and in microeconomics is essential.

Program

1.Introduction
International Trade in the Context of Economics
Recent trends in the world economy.
Measuring international trade and investment

2.International trade theory
Theories based on comparative advantage (The classical and neoclassical approaches). The role of wages, productivity and exchange rate in determining the pattern of trade: comparative advantage versus competitive advantage.
New trade theories.
International trade under imperfect competition.
Growth and trade.

3.International trade Policy
Instruments of trade policy and their impact. Free trade vs. protectionism: costs and benefits. Economic Integration. International Economic Institutions: GATT, WTO, EU. 

Mandatory literature

Ana Paula Africano de Sousa e Silva; Comércio internacional. ISBN: 978-972-40-7560-0
Paul Krugman e Maurice Obstfeld; International Economics, Pearson Higher Education, 10th edition, 2014
Thomas Pugel; International Economics, McGraw-Hill, 16th edition, 2016
Dennis Appleyard e Alfred Field; International Economics, McGraw-Hill, 8th edition, 2013

Complementary Bibliography

Hill, Charles e Thomas Hult; International Business: Competing in the Global Marketplace, McGraw-Hill, 11th edition, 2016

Teaching methods and learning activities

Theoretical and practical classes.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Teste	100,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	123,00
Frequência das aulas	39,00
Total:	162,00

Eligibility for exams

The distributed assessment requires enrollment in one of the classes and the attendance of 75% of planned classes.
Distributed assessment is composed of 2 mini tests (quiz) and 1 test.
The minimum score to be obtained in each test is 8 points.

Calculation formula of final grade

Final grade = 15%*1st Quiz+20%*2nd Quiz+65%*3rd test


Approval in the course is dependent on obtaining a Final Grade equal to or greater than 10.

The minimum score to be obtained in each test is 8 points.

Examinations or Special Assignments

Not applicable.

Internship work/project

Not applicable.

Classification improvement

According to RAC.

Observations

In this course there is a class taught in English.