Class title International Trade and Global Finance Course number (s ...

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international dimensions of economic activity, focusing in particular on the causes and ... economic policy in an international environment. ... T. A. Pugel ( 2011).

Class title

International Trade and Global Finance

Course number (s)

FIN 44500- 04


Spring 2014


Professor David Shepherd

Points of contact

e-mail: [email protected]

Course Overview:

This course aims to provide students with a detailed understanding of the international dimensions of economic activity, focusing in particular on the causes and consequences of trade and financial capital flows and the impact of international factors on national economic performance. The course shows how economic analysis can be used to evaluate contemporary developments in the world economy, the forces driving international economic integration, and problems related to the design of economic policy in an international environment.

Learning objectives

By the end of the course, students should have acquired: 

an awareness of the nature and causes of international transactions and the forces driving globalisation

an understanding of international trade theory

a thorough appreciation of the nature of global financial interactions and open economy macroeconomics

an awareness of how international factors can influence domestic economic performance

The ability to apply economic analysis to investigate past and contemporary issues in the world economy

The ability to assess the impact of macroeconomic policies in a global context

Assessment structure:

The course is assessed via a combination of coursework, class presentation and written examination

Required resources

T. A. Pugel (2011). International Economics, 15th edition ,McGraw-Hill D. Salvatore (2013) International Economics: Trade and Finance , 11th edition, Wiley Additional readings on specific topics will be distributed in class. Students

are also encouraged to visit the following websites: International Monetary Fund (IMF): World Trade Organization (WTO): World Bank: These websites provide analysis and statistics for various countries, including the US, UK and EU. Economic Report of the President: This is a report written each year by the US President’s Council of Economic Advisers. It provides a summary view of US economic performance, including international performance, and contains a range of useful statistics for both the US and the rest of the world. It is particularly useful in showing how economic analysis is used to understand contemporary problems. US Federal Reserve: This site provides information about US monetary policy and a range of additional information about US economic performance Classroom policies

Standard London Undergraduate Program attendance policies apply. The Notre Dame Academic Code of Honor Pledge is observed in this course: “As a member of the Notre Dame community, I will not participate in or tolerate academic dishonesty.”

Course fees

Student accounts will be charged an amount for photocopying, performances, required field trips and/or travel for this course. The amount will be confirmed at the start of the semester.

Class schedule

1. Trade and Capital Flows in the World Economy 2. Comparative Advantage and International Trade 3. The Structure of Trade and the Sources of Comparative Advantage 4. Trade Policy and Economic Welfare 5. The Analysis of Financial Capital Flows 6. Trade, Capital Flows and Economic Performance 7. International Transactions and the Balance of Payments

8. The Foreign Exchange Market and Exchange Rate Adjustments 9. Exchange Rate Policies and Long Run Exchange Rate Movements 10. Global Finance and the International Monetary System 11. Open Economy Macroeconomics 12. Macroeconomic Fluctuations in an Open Economy 13. Monetary and Fiscal Policy in an Open Economy