Course Topics
1. Ricardo model 2. Resources, comparative advantage, and income distribution – Heckscher-Ohlin model 3. Specific factors model 4. Standard trade model 5. Economies of Scale, imperfect competition, and international trade 6. Summary: trade theory 7. Trade policy and its instruments 8. Balance of payments and national accounting 9. Foreign exchange market and elasticity approach 10. Gross domestic product and trade balance 11. Expenditure and exchange rate in the Keynesian model 12. Mundell-Fleming model 13. Purchasing power parity theory and interest parity theory 14. Monetary exchange rate model (flex price model) 15. Exchange rate overshooting (Dornbusch model)

Propaedeutic courses
None, but the frequency of the courses Macroeconomics, Microeconomics and Mathematics for EPE is suggested in order to properly follow these lectures

Teaching format
Lectures (in person)

Educational objectives
Knowledge and understanding By the end of the programme, students will have acquired the following knowledge and skills: - analyse the demand and supply of goods and services; - the ability to understand the price mechanism in market economies; - the ability to apply the concepts of game theory to the economic behaviour of public and private actors; - the ability to understand the role of governments in market economies; - the ability to analyse the behaviour of economic variables in the short, medium and long run; - the ability to place economic thinking in a historical context and to assess the role of technology and social change in the development of economic thinking; - the ability to understand complex texts in the field of economics in the three languages of instruction; - the ability to analyse human behaviour in organisations; - the ability to understand theories of organisational decision-making; - the ability to understand how political decisions are made and how these decisions affect the economy; - recognising and understanding the conditions necessary for sustainable economic development, taking into account the environment and natural resources; - understand the reasons for economic growth and development of countries; - understand the basic principles of the functioning of labour markets; - estimation and interpretation of econometric models for the empirical analysis of the above problems. Applying knowledge and understanding - the ability to communicate fluently and spontaneously with native speakers on economic topics; - the ability to assess the impact of trade in a globalised world. Making judgements Acquire the necessary judgement and methodological tools to critically analyse data, sources, assumptions and implications of scientific practice and the political, ethical and legal contexts in which economic phenomena are situated and with which they interact. Communication skills Proficiency in written and spoken Italian, German and English, including the translation of these languages. Intercultural competence. Conceptual conciseness, ability to capture facts in writing, especially for scientific and science-based texts Learning skills Promotion of critical thinking and analytical skills to recognise complex problems in their long-term dynamics and in the diversity of their - also ethical - implications

Assessment
Written exam (100 %), consisting of problems and muliple choice questions.

Evaluation criteria
Knowledge, analytical skills.