ECH-20806 Macroeconomics and International Trade

Course

Credits 6.00

Language of instruction:

English

Assumed knowledge on:

ECH-10304

Expected knowledge on:

Micro-economie en Welvaartstheorie / Agrarische en Rurale Ontwikkeling II

Continuation courses:

Topics in Development economics, Agricultural & Rural policy analysis, Rural economic analysis

Contents:

The BSc-A course Economics provides a short introduction to the macroeconomic analysis of a closed economy. The present course deepens our understanding of the closed economy and extends the analysis to an open economy. It explains things like inflation, unemployment, current account deficits, international debt, and depreciating exchange rates, and also pays attention to the role of economic policy instruments. In addition, it gives a review of the theories explaining international trade and studies the effects of trade protection. Special attention is paid to the role of international organizations (EMU, IMF, World Bank, WTO).

Aims:

- to acquire basic knowledge of macroeconomics and international economics;
- to gain insight into the rationale behind the use of economic policy instruments;
- to gain insight into the role of international economic organizations;
- to obtain knowledge of the differences between (groups of) countries when it comes to stabilisation policy and trade policy.

Activities:

Lectures (twice per week) on the course materials. Practicals (once per week) in which students make exercises on the course materials, and search actively for quantitative information (library, internet, CD-ROMs, and so on) about country differences in macroeconomic and international trade conditions and policies.

Examination:

Written examination and practical exercises.

Literature:

A course guide is available at the secretariat of the Economics of Consumers and Households Group.
Literature:
Mankiw, N.G., Macroeconomics, Worth Publishers, Fifth Edition, 2003 Krugman, P.R., and M. Obstfeld, International Economics: Theory and Policy, Addison- Wesley Publishing Company, Sixth Edition, 2003 .