Course detail

International Economics

FP-iePAcad. year: 2021/2022

This course aims to provide an up-to-date and understandable analytical unified framework for understanding traditional insights as well as the newest findings and approaches in international economics. In analysing both the real and monetary sides of the subject, the approach will help the student to gain and retain the underlying logic of international economics.

Language of instruction


Number of ECTS credits


Mode of study

Not applicable.

Offered to foreign students

Of all faculties

Learning outcomes of the course unit

At the end of the curricular unit the students will be able to understand international trade theories, determinants of international trade, international flows of goods and capital and national income accounting and the balance of payments, real and nominal exchange rates and theory of exchange-rate determination, supply and demand for loanable funds and for foreign-currency exchange, equilibrium in the open economy, structure of the foreign exchange-market, optimum currency areas and the European experience and how policies and events affect an open economy.


Knowledge in macroeconomics and microeconomics.


Not applicable.

Planned learning activities and teaching methods

The course contains lectures and seminars that explain key topics of the discipline.

Assesment methods and criteria linked to learning outcomes

Students attending the lectures will be evaluated on the basis of written exam test and an assignment. The course is classified according to the ECTS: Final exam - 70% of final grade (the comprehensive exam covering the entire module), assignment - 30% of final grade.

Course curriculum

Topics lectures are as follows:
1. International Trade Theories – Classical Country-Based Trade Theories
2. Modern Firm-Based Theories.
3. International Mobility of Production Factors.
4. International Investment Theories.
5. Trade Policy: Main issues. Benefits of International Trade.
6. Trade Policy: Main Instruments and their Effects.
7. Arguments for Restricting International Trade.
8. International Flows of Goods and Capital. National Income Accounting and the Balance of Payments.
9. Prices for International Transactions: Real and Nominal Exchange Rates. Theory of Exchange-Rate Determination based on Purchasing-Power Parity.
10. Optimum Currency Areas and the European Experience
11. Equilibrium in the Open Economy: Money, Interest Rates, and Exchange Rates.
12. Fiscal and Monetary Policy in an Open Economy.

Work placements

Not applicable.


The course focuses on the understanding main concepts linked to the trade and monetary issues of international economics. Applications are also discussed while using relevant case studies.

Specification of controlled education, way of implementation and compensation for absences

Attendance is not mandatory.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

Krugman, P. R., Obstfeld, M. International Economics. Berkeley: University of California, 2003. 754 s. ISBN 0-321-11639-9. (EN)
Mankiw, N. G. (2015). Principles of Macroeconomics. Cengage Learning, ISBN 978-1-285-16591-2. (EN)
Griffin, W. R., Pustay, M. W. (2015). International Business. Pearson. ISBN 978-1-292-01821-8. (EN)

Recommended reading

Not applicable.

Classification of course in study plans

  • Programme MGR-UFRP Master's, 1. year of study, summer semester, compulsory-optional

  • Programme MGR-Z Master's

    branch MGR-Z , 1. year of study, summer semester, elective

  • Programme MGR-EBF Master's, 1. year of study, summer semester, compulsory
  • Programme MGR-IBM Master's, 1. year of study, summer semester, compulsory

Type of course unit



13 hours, optionally

Teacher / Lecturer


13 hours, compulsory

Teacher / Lecturer