CORE COURSES
International Economics
Background
The study of international trade
and money has always been an especially lively and controversial area in
economics. Through international trade in goods and services, as well as
international flows of money, the economies of different countries and regions
are more closely linked to one another now than ever before. This trend is known
as globalization. At the same time, the world economy is much more turbulent
than it has been in many past decades, leading to a more volatile commercial
environment. The volume of international trade is also obviously linked very
closely to the prosperity and profitability of the maritime industry. An
understanding of trade and money flows and their composition is a fundamental
prerequisite for the understanding of shipping and global maritime supply
chains.
Objectives
The
objective is to equip the student with
a profound understanding of the workings of the international economy and its
linkages and interdependences with international production, transport and
distribution. This includes institutional arrangements (like the European Union,
North American Free Trade Agreement, the World Trade Organisation, the
International Monetary Fund), and the economics of international trade,
international money and finance. Traditional concepts like comparative advantage
are explored, as well as the role of industry structure and multinational
corporations in international commerce.
Compulsory Reading
-
Van Marrewijk, C. (2006),
'International Economics', Oxford University Press, 2006, Oxford
Recommended Reading
-
Intermodal Transportation Institute (2004), 'USA needs new transportation
policy', University of Denver, September 2004
-
Martin, W. and A. Winters (1995), The Uruguay Round and the Developing
Countries, Cambridge University Press: New Yorkk
-
Romer, P.M. (1994), 'New goods, old theories, and the welfare costs of trade
restrictions', Journal of Development Economics, 2004
