Course detail

International Economics

FP-mePAcad. year: 2025/2026

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

Czech

Number of ECTS credits

6

Mode of study

Not applicable.

Guarantor

prof. Ing. Marek Zinecker, Ph.D.

Department

Institute of Economics (ÚE)

Entry knowledge

Knowledge in macroeconomics, microeconomics and international trade.

Rules for evaluation and completion of the course

Student obtains credits if he/she receives at least 15 points out of 30 possible points awarded for practical seminars. The points will be awarded for a final writtten test, from which the student must obtain at least 9 points. Another requirement represents an assignment and its presentation (the student must obtain at least 8 points).
The requirement to final examination is the knowledge of the course and obtained credit. The final exam is written (a written test). It takes into account a comprehensive knowledge of international economics, in all material respects. The maximum number of possible points is 70. Each student must obtain at least 35 points. In the overall assessment, the points of the seminars and examination are added. Students may request an oral verification.

The scale of the resulting classification:
(student may gain from exercise 30 points and max.70 points of the test, a total of 100 points)
A: 90-100 points
B: 80-89 points
C: 70-79 points
D: 60-69 points
E: 50-59 points
F: less than 50 points


participation in the seminars is optional

Aims

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.
At the end of the curricular unit the students will be able to understand international trade theories and how policies and events affect an open economy.

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

Griffin, W. R., Pustay, M. W. (2015). International Business. Pearson. ISBN 978-1-292-01821-8. (EN)
Chinn, M. D., & Irwin, D. A. (2025). International Economics. Cambridge: Cambridge University Press. (EN)
Krugman, P. R., Obstfeld, M. (2015). International Economics. Theory and Policy. Pearson. ISBN 978-1-292-01955-7.
Mankiw, N. G. (2015). Principles of Macroeconomics. Cengage Learning, ISBN 978-1-285-16591-2.
Neumann, P., Žamberský, P., Jiránková, M. (2010). Mezinárodní ekonomie. Grada Publishing. ISBN 978-80-247-3276-3. (CS)
Soukup, A. (2012). Mezinárodní ekonomie. Nakladatelství Aleš Čeněk. ISBN 978-80-7380-392-6.

Recommended reading

Çolak, G., Durnev, A., & Qian, Y. (2017). Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections. Journal of Financial and Quantitative Analysis, 52(6), 2523-2564. doi:10.1017/S0022109017000862
Kim, Chansog (Francis & Pantzalis, Christos & Park, Jung. (2014). Political Geography and Stock Returns: The value and risk implications of proximity to political power.
Laura A. Wellman, 2017. "Mitigating political uncertainty," Review of Accounting Studies, Springer, vol. 22(1), pages 217-250, March.
Rodolphe Desbordes, Gary Koop (2016). Should we care about the uncertainty around measures of political-economic development? Journal of Comparative Economics, Volume 44, Issue 3, pp. 752-763. (EN)
Savor, P., & Wilson, M. (2013). How Much Do Investors Care About Macroeconomic Risk? Evidence from Scheduled Economic Announcements. Journal of Financial and Quantitative Analysis, 48(2), 343-375. doi:10.1017/S002210901300015X
Scott R. Baker, Nicholas Bloom, Steven J. Davis; Measuring Economic Policy Uncertainty, The Quarterly Journal of Economics, Volume 131, Issue 4, 1 November 2016, Pages 1593–1636, https://doi.org/10.1093/qje/qjw024 (EN)

Elearning

eLearning: currently opened course

Classification of course in study plans

  • Programme MGR-MEO Master's 1 year of study, summer semester, compulsory

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

prof. Ing. Marek Zinecker, Ph.D.

Syllabus

Who trades with whom: gravity models of international trade.

Classical theory of international trade – the one-factor economy model.

Trade between two countries in a multi-factor economy (the Heckscher–Ohlin model).

International trade and external economies of scale.

Objectives and instruments of external trade policy; selected trade policy instruments.

The political economy of trade policy (liberalism vs. protectionism).

International mobility of factors of production.

The exchange rate in the short run and the long run.

The theory of optimum currency areas and the experience of the European Monetary Union.

Fiscal and monetary policy in an open economy.

Theory of international economic integration.

Exercise

26 hours, optionally

Teacher / Lecturer

Ing. Vladimíra Bayerová, Ph.D.

Syllabus

1. Introduction; assignment of the semester paper; review of knowledge from the course Macroeconomics; absolute and comparative advantage.

2. Classical theory of international trade – the one-factor economy model – examples and case studies.

3. Trade between two countries in a multi-factor economy model (specific factors model).

4. Trade between two countries in a multi-factor economy model (Heckscher–Ohlin model) – examples and case studies; seminar paper presentations.

5. Objectives and instruments of trade policy – examples and case studies; seminar paper presentations.

6. Analysis of trade policy instruments – examples and case studies; seminar paper presentations.

7. Tariff policy – examples and case studies; seminar paper presentations.

8. Quotas, export subsidies and embargoes – examples and case studies; seminar paper presentations.

9. Balance of payments – accounting in the balance of payments accounts – examples and case studies; seminar paper presentations.

10. Exchange rates in the short run and the long run – examples and case studies; seminar paper presentations.

11. International mobility of factors of production – examples and case studies.

12. Credit test (written), seminar paper presentations.

13. Theory of optimum currency areas and the experience of the European Monetary Union – examples and case studies; resit of the credit test; seminar paper presentations.

Elearning

eLearning: currently opened course