FOUNDATIONS OF INTERNATIONAL ECONOMIC RELATIONS

Time & place:






Lecture:

Tuesday, 8:30 – 10:00




Room:






Start:






Examination:






Exam:

90 Min. (6 CP)




Examination date:






Prüfungsanforderungen:

Proof of:

knowledge of the reasons for international division of labour, as well as theories determining a country's relative price advantages and the economic effects of foreign trade,

knowledge of the forms of foreign exchange markets and the transactions practised there, as well as the determinants of exchange rates.

Requirements:

none




Recommended previous knowledge:

B.WIWI-OPH.0007 Microeconomics I,

B.WIWI-OPH.0008 Macroeconomics I




Learning outcome, core skills:

The students:

know various causes for a country's participation in the international division of labour,

can theoretically substantiate various causes for the relative price advantage of a country and describe their economic policy consequences,

are familiar with the welfare effects of foreign trade and can reflect on their social consequences,

are familiar with possible state instruments for influencing imports and exports and can assess the resulting social consequences in terms of the national and global economy,

are familiar with the prerequisites and motives of multinational entrepreneurial activity,

have an overview of the various manifestations of foreign exchange markets and the motives of the players acting there and can describe the existing relationships,

are familiar with various determinants of exchange rates and can critically reflect on their relevance,

understand the effects of exchange rate changes on an economy,

are familiar with different exchange rate regimes and their specific

Contents of the lecture:

The lecture consists of two parts. Part 1 provides an overview of the causes and consequences of the international division of labour. Various theories of international trade are analysed and their economic consequences presented. The reasons for state intervention in
world trade and their economic consequences are also analysed. In Part 2, the various forms of foreign exchange markets and the transactions practised there are examined and the determinants of exchange rates
are discussed and theoretically deepened. In addition, the validity of the theories is examined by means of empirical studies at




Recommended literature: