This course introduces students into the international economic context, characterized by a globalization process that involves increasing flows of goods, services, capitals, firms and (to a lower extent) people.

This course is related with Development Economics, which will be taught in the next semester, and International Economic Organization, which is a third year optional course.

The aim of this course is to develop a critical perspective on issues of international economics. To that end, the course covers the following topics: the international economy and globalization, international trade, international finance, Foreign Direct Investment and Transnational Corporations, and transnational migrations.



Competencies

To be able to search reliable information about international economics on the library and the internet.

To be able to search and analyse data on issues related to the international economy: trade, finance, Foreign Direct Investment and transnational migrations.

To be able to understand the link between globalization and local processes.

To be able to evaluate critically the impact of globalization on both, individuals and societies.

To be able to write and present a short essay on an international economy topic.

Chapter 1. An introduction to International Economics



A political economy approach to study International Economics

Origin and development of the international economy

Contemporary world economy: globalization

Globalization and the State

International classifications and country groups



Chapter 2. International Trade Relations



International trade theory and policy

Structure and evolution of international trade

International trade institutions: from GATT to WTO

Regional trade agreements



Chapter 3. International Finance



Currencies and the international monetary system

International monetary and financial systems: Characteristics and evolution

A critical evaluation of exchange rate systems

Global financial crises



Chapter 4. Transnational Capital



Transnational capital: Concepts, trends and geographical location

Transnational corporations (TNCs) and global value chains

The effects of TNCs on States



Chapter 5. International Migrations



Migration is global

Migration as a social phenomenon

The effects of migration in home and host societies



Chapter 6. Contemporary debates on international economics

The ecological limits of the international economic order

The international economic order and inequality

Regulating the international economic order: Neoliberalism and its alternatives



(See the Students Guide for further details)

The methodology combines theory, exercises and a short essay.

The teacher is responsible for the theoretical explanations, which will be explained in lectures.

Students will do exercises in practical and computer classes, supervised by the teacher. The exercises will be corrected and discussed in class to guarantee feedback and to support the learning process.

Students will have to do a short essay about a topic of international economics using bibliography and appropriate data; it will be a team work.

(See the Students Guide for further details)

• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 60
  • Individual works (%): 20
  • Team projects (problem solving, project design)) (%): 20

The evaluation in the ordinary summons will be continuous and it will consist of:

• Practical tasks (individual): 20%

• Practical tasks (collective): 20%

• Exam: 60%

Although the evaluation system is continuous, students hold the right to a final exam. For those students that have a final evaluation, it will consist on:

- Practical tasks: 30%

Tasks will cover the practical part of the course and they will be available in Egela. They have to be delivered on the exam day

- Essay: 10%

Instructions for the Essay will be available in Egela. It has to be delivered on the exam day.

- Exam: 60%.

(See the students’ guide for further details)



In case the health situation does not allow the final test to be performed in person, the evaluation procedure specified in the Student Guide will be activated.

For those that followed the continuous evaluation, they will only have to repeat the part they failed in the ordinary summons (the exam, the essay, the practical tasks), unless they opt for a final evaluation. In the latter case, the evaluation will be the same as the one for those that chose a final evaluation system.

For those students that have a final evaluation, it will consist on:

- Practical tasks: 30%

Tasks will cover the practical part of the course and they will be available in Egela. They have to be delivered on the exam day

- Essay: 10%

Instructions for the Essay will be available in Egela. It has to be delivered on the exam day.

- Exam: 60%.

(See the Students Guide for further details)





In case the health situation does not allow the final test to be performed in person, the evaluation procedure specified in the Student Guide will be activated.

All the materials needed will be provided in Egela

Basic bibliography

Dicken, P. (2007). Global shift: Mapping the changing contours of the world economy. SAGE Publications Ltd.

Hill, Charles W. L. (2018), Global business today, 10th edition. MacGraw-Hill.

Oatley, T. (2015). International political economy. Routledge.

Ravenhill, J. (2017). Global political economy. Oxford University Press.

In-depth bibliography

Alonso, J. A. (2009): Lecciones sobre economía mundial. Thomson. Madrid, 2009.
García, J.M., Durán, G. y Sánchez, A. (2011.): La economía mundial en transformación. Paraninfo. Madrid.
Krugman, P., Obstfeld, M., & Melitz, M. (2017). International Economics: Theory and Policy, the latest edition. Addison-Wesley.
Maesso, M. y González, R. (2011) Manual de economía mundial. Pirámide. Milanovic, B. (2016). Global inequality: A new approach for the age of globalization. Harvard University Press.
Orrenius, P. M., and Zavodny, M. (2012) "Economic effects of migration: Receiving states." Oxford Handbook of the Politics of International Migration.
Palazuelos, E. (2015) Economía Política Mundial. Akal, Madrid.
Rodrik, D. (2011) La paradoja de la globalización: Democracia y el futuro de la economía mundial. Antoni Bosch, Barcelona.
Stiglitz, J. (2006): Cómo hacer que funcione la globalización. Taurus, Madrid.
Unceta, K.; Zabalo, P. (1994) “50 años de Bretton Woods: problemas e interrogantes de la economía mundial”. Cuadernos de Trabajo, nº 13. Hegoa, Bilbao.
Zabalo, P. (2000) “La Organización Mundial del Comercio: paradigma de la globalización neoliberal”. Cuadernos de Trabajo, nº 28. Hegoa, Bilbao.

Journals

Revista de Economía Mundial. http://www.sem-wes.org/seccion.php?menu=15&idsec=15- -Revista de Economía Crítica. http://revistaeconomiacritica.org
Revista Lan Harremanak. http://www.lan-harremanak.ehu.es/p231-content/es/contenidos/informacion/rrll_revista/es_revista/indice.html
Cuadernos de Hegoa. http://publ.hegoa.efaber.net/categories/2
Información Comercial Española. http://www.revistasice.com/es-ES/Paginas/default.aspx
Estudios de Economía Aplicada: www.revista-eea.net

Web addresses

Banco Mundial: www.bancomundial.org
Bretton Woods Project: www.brettonwoodsproject.org
FAO, Organización de Naciones Unidas para la Agricultura y la Alimentación: www.fao.org
FMI, Fondo Monetario Internacional: www.imf.org
ODG, Observatorio de la Deuda en la Globalización: www.debtwatch.org
OMAL, Observatorio de Multinacionales en América Latina: www.omal.info
OMC, Organización Mundial de Comercio: www.wto.org
ONU, Departamento de Asuntos Económicos y Sociales: World Economic and Social Survey: www.un.org/esa/policy/wess
OXFAM: www.intermonoxfam.org ; www.comercioconjusticia.org ; www.oxfam.org/es
PNUD, Programa de Naciones Unidas para el Desarrollo: www.undp.org
Red del Tercer Mundo: www.redtercermundo.org.uy
UNCTAD, Conferencia de Naciones Unidas sobre Comercio y Desarrollo: www.unctad.org
UNIDO, Organización de Naciones Unidas para el Desarrollo Industrial: www.unido.org
OCDE, Organización para la Cooperación y el Desarrollo Económico: www.oecd.org
OIM, Organización Internacional para las migraciones: www.iom.int