SELECT UP TO MAXIMUM 3 GOALS AMONG THE FOLLOWING 5, DELETING THOSE NOT PRIOR FOR THIS SPECIFIC COURSE

The course fits into the overall program curriculum pursuing some of the defined general learning goals. In particular, the course contributes to the development of the following capabilities:

• Understand context, functions, processes in a business and industrial environment and the impact of those factors on business performance

• Design solutions applying a scientific and engineering approach (Analysis, Learning, Reasoning, and Modeling capability deriving from a solid and rigorous multidisciplinary background) to face problems and opportunities in a business and industrial environment

• Interact in a professional, responsible, effective and constructive way in a working environment, also motivating group members

The course will allow students to:

1) understand the functioning of international markets and of the main international institutions;

2) know how changes in the regulations and institutions affect business decision making in an international environment;

3) analyse the international environment to develop adequate solutions to internationalization challenges and opportunities;

4) discuss issues and solutions in international teams.

1. Introduction to international markets and the role of international institutions.

• Market failures and externalities in international markets.
• The role of institutions as public goods.
• International policies

2. Macroeconomic analysis of the interdependencies between countries

• Balance of payments and international transmission of policies and shocks
• Economic growth , development and market imperfections
• The role of the IMF and World Bank

3. Microeconomic analysis of the interdependencies between countries and the effects of trade liberalization and market integration

• Problems with market access and risks in foreign markets
• Effects of international openness and the elimination of barriers to markets
• Economic policies of integration and protectionism in manufacturing and services

4. The role of the WTO and multilateral agreements between countries

• Multilateral agreements on international trade
• Current functions of the WTO: trade integration, international rules on market access and intellectual property protection.
• The ongoing negotiations within the WTO

5. The basics of the EU integration process

• Short history of the EU
• From the custom union to the single market
• The enlargements and their implications
• EU actors: the community institutions and the national powers

6. Why integrating? Economics of preferential liberalization and regional integration

• Forms of preferential liberalization
• Costs and benefits of preferential agreements between countries: static and dynamic effects of preferential liberalization

7. The European Union integration: rules and policies of the Single Market
    The main EU policies for the creation and functioning of the Single Market
    EU enlargements and regional policies

8. The European Union monetary integration

• The rational of the creation of the single currency
• Monetary integration and the Eurozone fiscal and monetary policies
• Financial markets integration

9. Recent evolution and the future of the EU

Knowledge of basic economics principles is strongly suggested to fully benefit from the course. Especially students that did not take a course in Economics in their undergraduate studies, are strongly adviced to take the online course "Fundamentals of Economcis" available on the Politecnico website https://www.pok.polimi.it/courses/course-v1:Polimi+ECON101+2019_M5/about

The final evaluation will be in two parts: