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BLC_2IEC - International Economics & Competitiveness*

This course presents a number of classical and modern theoretical approaches that enable the students to understand and explain the dynamics of international trade and production as well as the rationale of why countries trade with each other and how trade is beneficial to them. The students will get a deeper understanding of the different institutions and policy measures and of their role in supporting or limiting international trade.

The course will further discuss important issues such as the impact of government policies have on trade and economic welfare, as well as the role that World Trade Organization has on international trade policy. Students will also learn how foreign direct investments can serve as a substitute or complement to trade between countries, as well as learn about the competitiveness of industries and its importance at the country level. Consequently, we then move on to study the modern industry analysis models, which at a more general level deal with the factors that influence industry competitiveness and discuss how positions of strength are developed within industries.

• Describe and discuss the classical and modern theoretical approaches to international trade.
• Compare the relevant theories and models and point out their differences and/or similarities as well asdiscuss their applicability and real world implications.
• Discuss and explain the effect that different policy measures have on a country’s economy.
• Explain how foreign investments contribute to trade between countries.
• Explain the dynamics of international trade and competitiveness at the industry and country level.