Main field of study: Economics
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Learning outcomes for the course
The main goal of the course is to provide the student with a basic knowledge of economic theories of the world economy. After completing the course the student should be able to:- explain the causes and effects of international trade and economic integration (1)
- explain the causes and effects of implementing different types of barriers to international trade like tariffs and quantitative restrictions in the form of quotas (2)
- explain the functions of the exchange market, the link between interest rates and exchange rates, and the link between prices and exchange rates (3)
- describe the general debate on different aspects of international economics (4)
- describe what determines a country’s comparative advantages (5)
- describe the welfare effects of different types of trade barriers (6)
- describe terms such as free trade areas, custom unions, balance of payments, current account (7)
- describe alternatives for companies regarding the management of exchange risk exposure in foreign trade (8)
- describe how exchange rate fluctuations affect foreign trade flows (9)
- describe the different types of exchange rate systems (10)