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Scheda Riassuntiva
Anno Accademico 2017/2018
Scuola Scuola di Ingegneria Industriale e dell'Informazione
Insegnamento 097367 - INTERNATIONAL ECONOMICS
Docente Sdogati Fabio
Cfu 10.00 Tipo insegnamento Monodisciplinare

Corso di Studi Codice Piano di Studio preventivamente approvato Da (compreso) A (escluso) Insegnamento
Ing Ind - Inf (Mag.)(ord. 270) - BV (479) MANAGEMENT ENGINEERING - INGEGNERIA GESTIONALE*AZZZZ097367 - INTERNATIONAL ECONOMICS

Programma dettagliato e risultati di apprendimento attesi

 

International Economics – 072470

 

Academic year 2016/2017

 

Instructor

 

Fabio Sdogati

 

Dipartimento di Ingegneria Gestionale

 

Via Lambruschini 4/b

 

20156 Milano

 

Telephone: 02 2399 2758 / Fax: -2710

 

fabio.sdogati@polimi.it

 

 

 

Visiting Professor

 

TBD

 

 

 

Class timetable (lectures and practice sessions)

 

Tuesday 15:15-19:15         Room TBD

 

Wednesday 14:15-18:15    Room TBD

 

Textbook

 

  • Krugman P., M. Obstfeld and M. J. Melitz (K.O.M.), International Economics: Theory and Policy, X Edition, Pearson International Edition, 2015.
  • Additional readings: see the bibliography to be handed out on the first day of class.

 

Macro Calendar

 

04.10 – 23.11            1° part: Pure Theory of International Trade

 

29.11 – 25.01            2° part: International Macroeconomics

 

 

 

Exam dates

 

23.11                          First midterm exam

 

31.01                          Second midterm exam

 

 

 

TBD                           February first final exam

 

TBD                           February second final exam

 

TBD                           July final exam

 

 

 

Students attending the course MUST register for the first available test date in February.

 

At this time (October 2016), the program for the second part is not fully detailed. The final version will be handed out, probably with minor corrections, at the beginning of the second part of the course (late November).

 

 

 

 

 

INTERNATIONAL ECONOMICS

 

Academic year 2016-2017

 

SCHEDULE OF CLASSES AND PRACTICE SESSIONS

 

Week

Day

Contents of Lecturers or Seminars

To read / study before[1]

W1

Oct. 4th

1.a. Presentation of the course. Administrative and logistic details: presence, midterm exams, regular exams, class presentations. Background, motivation. 

1.b. Introduction to the main analytical categories used in this course: productivity and international division of labour, technological differences and commodity composition of trade flows. The classical instruments of international economics: pure theory and monetary theory.

K.O.M. Ch. 1, 2, 13 (R)

Oct. 5th

2.a. The object of the Pure Theory of International Trade: Hypotheses on the origin of international trade; merchandise composition of trade; effects of trade on the allocation of resources and welfare.

2.b. The Labour Theory of Value as the basis for the Classical Theory of International Trade. Absolute vs. comparative advantages. Opportunity costs and comparative advantages.

K.O.M. Ch. 1, 2 (R)

W2

Oct. 11th

3.a. Practice session: Review of production theory (production and cost function, isoquants and isocost curves, transformation and contract curve).

Instructor’s material

Oct.12th

3.b. The Ricardian model.

K.O.M. Ch. 3 (S)

W3

Oct. 18th

3.c. Practice session: The Ricardian model.

Instructor’s material

Oct. 19th

4.a. Specific factors model and income distribution.

K.O.M. Ch. 4 (S)

W4

Oct. 25th

3.d. Practice session: The Ricardian model with a continuum of goods and increasing returns to scale.

Krugman ’87

Oct. 26th

5.a. Introduction to the Heckscher-Ohlin (H-O) model: The Heckscher-Ohlin, Rybczynski and Stolper-Samuelson theorems with fixed production coefficients.

K.O.M. Ch. 5, Appendix to Ch. 5 (S)

W5

Nov. 1st

No class (local holiday)

 

Nov. 2nd

5.b. The Heckscher-Ohlin (H-O) model (continued): The Heckscher-Ohlin, Rybczynski and Stolper-Samuelson theorems with fixed production coefficients, factor price equalization.

K.O.M. Ch. 5, Appendix to Ch. 5 (S)

W6

Nov. 8th

5.c. Practice session: The Heckscher-Ohlin model.

Instructor’s material

Nov. 9th

6.a. Trade with international fragmentation of production.

K.O.M. Ch. 8 (R)

W7

Nov.15th

7.a. Practice session: Commercial policies..

Instructor’s material

Nov.16th

7.b. Commercial policies: Import tariffs and export subsidies in a small economy

K.O.M. Ch.  9, 10 (S)

W8

Nov.22nd

  1. Review session in preparation for the first midterm:  Review of theory, numerical examples, questions and answers.

 

Nov.23rd

1st MIDTERM EXAM

 

W9

Nov.29th

9.a. Introduction to the main current problems of international economics: The 2007-20?? crisis, neutrality of monetary policy and recessionary fiscal policy in Europe. Understanding the current macroeconomic scenario.

Instructor’s material

Nov.30th

9.b. The main current problems of international economics (continued): The 2007-20?? crisis, neutrality of monetary policy and recessive fiscal policy in Europe, the Bretton Woods system. Understanding the current macroeconomic scenario.

Instructor’s material; K.O.M. Ch. 19 (R)

W10

Dec. 6th

10.a. The IS-LM model: The real side of the economy, consumption, investment, government spending, net exports.

10.b. The IS-LM model: The monetary side of the economy, money supply and demand.

Instructor’s material; K.O.M. Ch. 15 (R)

Dec. 7th

No class (local holiday)

 

W11

Dec. 13th

10.c. Practice session: the IS-LM model.

Instructor’s material

Dec. 14th

11.a. Definition of exchange rate and functioning of the foreign exchange market. Real exchange rate and price competitiveness of goods under free international trade.

Instructor’s material; K.O.M. Chap. 14 (S)

W12

Dec.20th

Main models used to determine the exchange rate:

11.b. The Law of One Price and Purchasing Power Parity (PPP);

11.c. The Keynesian model with sticky prices;

11.d. Price level and exchange rate in the long run: the Neoclassical model; 11.e. The Monetary model.

Instructor’s material; K.O.M.
Chap. 15, 16 (S)

Dec. 21st

No class (graduation day)

 

W13

Dec. 27th

Winter holidays

 

Dec. 28th

Winter holidays

 

W14

Jan. 3rd

Winter holidays

 

Jan. 4th

Winter holidays

 

W15

Jan. 10th

12.a. The Dornbusch’s exchange rate overshooting model (1976).

Instructor’s material (Sokol’s notes); K.O.M.
Chap. 15 (R)

Jan. 11th

12.b. Applications of the Dornbusch model to the study of permanent andtransitory effects of exogenous shocks.

Instructor’s material

W16

Jan. 17th

12.c. Practice session: The Dornbusch model.

Instructor’s material

Jan. 18th

13.a. Practice session: A model of crises in emerging markets.

Caballero, Krishnamurthy ’01, ’02

W17

Jan. 24th

13.b. Practice session: A model of crises in emerging markets.

Caballero, Krishnamurthy ’01, ’02

Jan. 25th

  1. Review session in preparation for the second midterm:  Review of theory, numerical examples, questions and answers.

 

 

Jan. 31st

2nd MIDTERM EXAM

 

 

 

 

[1] Chapter numbers are those of the English edition. “R” indicates chapters to be read, “S” indicated chapters to be studied.

 


Note Sulla Modalità di valutazione

Tests will be written tests. For further details, see syllabus above.


Bibliografia

Mix Forme Didattiche
Tipo Forma Didattica Ore didattiche
lezione
60.0
esercitazione
40.0
laboratorio informatico
0.0
laboratorio sperimentale
0.0
progetto
0.0
laboratorio di progetto
0.0

Informazioni in lingua inglese a supporto dell'internazionalizzazione
Insegnamento erogato in lingua Inglese
Disponibilità di materiale didattico/slides in lingua inglese
Disponibilità di libri di testo/bibliografia in lingua inglese
Possibilità di sostenere l'esame in lingua inglese
Disponibilità di supporto didattico in lingua inglese
schedaincarico v. 1.6.4 / 1.6.4
Area Servizi ICT
10/07/2020