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Risorsa bibliografica obbligatoria
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Scheda Riassuntiva
Anno Accademico 2018/2019
Scuola Scuola di Ingegneria Industriale e dell'Informazione
Insegnamento 097367 - INTERNATIONAL ECONOMICS
Docente Tajoli Lucia
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

Obiettivi dell'insegnamento

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

  • Develop new ideas and solutions in business and industrial scenarios evolving over time


Risultati di apprendimento attesi

FOR EACH OF THE PREVIOUS HIGHLIGHTED GOALS, PLEASE IDENTIFY THE MAIN EXPECTED LEARNING OUTCOMES RELATED TO THIS SPECIFIC COURSE AND ITS CONTENTS (EACH OF THESE EXPECTED LEARNING OUTCOMES SHOULD THEN BE ASSESSED ACCORDINGLY)

  • Students will understand the international context and how it affects the business and industrial environment and firms' performance

  • Based on the models representing different types  of interactions between countries, the students will be able to suggest 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 international business and industrial environment

  • Students will be able to develop new ideas in the international business environment  evolving over time

 

 


Argomenti trattati

 Academic year 2018/2019

 

Instructors

Fabio Sdogati
Dipartimento di Ingegneria Gestionale 
Via Lambruschini 4/b
20156 Milano
Telephone: 02 2399 2758 / Fax: -2710
 

Lucia Tajoli

Dipartimento di Ingegneria Gestionale 

Via Lambruschini 4/b

20156 Milano
Telephone: 02 2399 2752 

 

Class timetable (lectures and practice sessions)

Tuesday 15:15-19:15         Room TBD
Wednesday 14:15-18:15    Room TBD

 

INDICATIVE SCHEDULE OF CLASSES AND PRACTICE SESSIONS

Week

Day

Contents of Lecturers or Seminars

To read / study before[1]

W1

 

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)

 

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

 

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

Instructor’s material

 

3.b. The Ricardian model.

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

W3

3.c. Practice session: The Ricardian model.

Instructor’s material

 

4.a. Specific factors model and income distribution.

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

W4

 

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

Krugman ’87

 

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

 

 

 

 

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

 

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

Instructor’s material

 

6.a. Trade with international fragmentation of production.

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

W7

 

7.a. Practice session: Commercial policies..

Instructor’s material

 

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

K.O.M. Ch.  9, 10 (S)

W8

 

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

 

 

1st MIDTERM EXAM

 

W9

 

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

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

 

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)

 

 

W11

 

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

Instructor’s material

 

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

 

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)

 

 

 

 

 

 

W13

 

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

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

 

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

Instructor’s material

W14

 

12.c. Practice session: The Dornbusch model.

Instructor’s material

 

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

Caballero, Krishnamurthy ’01, ’02

W17

 

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

Caballero, Krishnamurthy ’01, ’02

 

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

 

 

 

 

 

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

 


Prerequisiti
 

Modalità di valutazione

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


Bibliografia
Risorsa bibliografica obbligatoriaKrugman P., M. Obstfeld and M. J. Melitz, International Economics: Theory and Policy, Editore: Pearson International Edition, Anno edizione: 2015, ISBN: 978-0133423648

Forme didattiche
Tipo Forma Didattica Ore di attività svolte in aula
(hh:mm)
Ore di studio autonome
(hh:mm)
Lezione
65:00
97:30
Esercitazione
35:00
52:30
Laboratorio Informatico
0:00
0:00
Laboratorio Sperimentale
0:00
0:00
Laboratorio Di Progetto
0:00
0:00
Totale 100:00 150:00

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. 1.6.1 / 1.6.1
Area Servizi ICT
20/11/2019