World Economy

Code:

2M3E08

Acronym:

WE

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2025/2026 - 2S

Active?	Yes
Responsible unit:	Agrupamento Científico de Economia
Course/CS Responsible:	Master in Economics of Business and Strategy

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
ME	15	Official Syllabus after 2021-2022	1	-	3	21	81
MEEE	39	Syllabus	1	-	3	21	81
MFPE	1	Study plan	1	-	3	21	81
MIM	11	Official Syllabus after 2021-2022	1	-	3	21	81

Teaching language

English

Objectives

This course intends to make students knowledgeable to some of the main features of the contemporaneous world economy and more capable of critically discuss its major trends and anticipate scearios for their evolution.

Learning outcomes and competences

Students shall acquire:
- knowledge of the contemporaneous world economic reality;
- capacity of critically discussing major economic trends and anticipate scenarios for their evolution;
- capacity to use this knowledge, in conjunction the knowledge acquired in other curricular units, to understand how such trends impact on economic agents and the risks attached to their activity (home-base and elsewhere).

Working method

Presencial

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

Basic concepts and models of:
Macroeconomics
Microeconomics
International Economics

Program

1. Major economic trends: ups and downs after the First World War.
   1.1. Three economic epochs (1918-2008): Great Depression, Golden Age and Great Moderation.
   1.2. Recent crises and answers from economic policy (2008-2025): financial crisis, "Great Recession" and sovereign debt crisis; pandemic crisis (Covid-19); recovery, the return of inflation and the impact of wars; the new geopolitical context and associated challenges.
2. The Nation and the world economy: ; winners/losers and Rodrik's trilemma.
   2.1. Globalization, trade and investment.
   2.2. Winners/losers from the globalization and the Rodrik's trilemma
3. Income growth and inequality.
4. Public debt:
   4.1. History, dynamics and consequences.
   4.2. Rules versus institutions.
5. Climate change, environmental dynamics and policies

Mandatory literature

The CORE Team; The Economy, https://www.core-econ.org, 2017
Barry Eichengreen and Ugo Panizza; Public debt: threat of opportunity? - https://www.core-econ.org/selection/public-debt-threat-or-opportunity/, Insights - The CORE Team, 2023

Teaching methods and learning activities

Teaching methodologies combine formal lectures with discussion and analytical applied assignments.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Teste	65,00
Trabalho escrito	25,00
Participação presencial	10,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	40,00
Frequência das aulas	21,00
Trabalho escrito	12,00
Apresentação/discussão de um trabalho científico	8,00
Total:	81,00

Eligibility for exams

Distribute evaluation:
- Final classification of at least 9,5/20.
- Attendance of, at least, 75% of the lecture-sessions (for working students, there is only the obligation to participate in the oral presentation of the respective group work).
- Minimum grade of 8/20 in the test.

Final exam:
- All students have access to this modality of assessment.
- The final exam only takes place in the reassessment examination period.
- Students get approved with a minimum grade of 9,5/20 in the exam.

Calculation formula of final grade

- Distributed evaluation: written test - 65%; written group assignments, including presentation and discussion in class - 25%; participation and attendance - 10%.

For working students who do not fulfill the attendance criterium, final classification will be determined as follows: 75% test + 25% group works.

The date of the test be announced in due course. Please note that it is also possible to complete this component of distributed evaluation on the date of the final exam during the reassessment examination period.

- Final exam: the grade obtained in the exam.

Classification improvement

Possible through final exam.

Observations

Sustainable Development Goals (SDGs):

1 - No Poverty  
5 - Gender Equality
8 - Decent Work and Economic Growth
9 - Industry, Innovation and Infrastructure
10 - Reduced Inequalities
11 - Sustainable Cities and Communities
12 - Responsible Consumption and Production
13 - Climate Action
16 - Peace, Justice and Strong Institutions