Macroeconomics of Open Economics
- Credits: 10
- Ending: Examination
- Range: 16sP
- Semester: winter
- Year: 2
- Faculty of Commerce
Teachers
Included in study programs
Teaching results
The successful graduate of the course will acquire knowledge mainly about:
- theoretical concepts documenting the effects of international trade, international flows of labor and capital on aggregate product, local supply and demand for labor, as well as the relative cost of factors,
- the effects of current phenomena such as globalization, integration, outsourcing and the effects of climate change,
- the effects of foreign trade policy, such as the introduction of tariffs, quotas or subsidies, but also the manipulation of exchange rates.
Successful graduates of the course will acquire skills mainly in:
- analysis of the effects of international politics and economics,
- critical assessment of scientific readings in international macroeconomics,
- elaboration of an individual scientific paper.
Successful graduates of the course will acquire competences mainly in:
- identification of knowledge niche in the current state of research in international macroeconomics,
- critical assessment of the impacts of current trends such as globalization, integration, or climate change on the local economy,
- design of development strategies while taking into account foreign flows of trade, labor, capital and current trends.
Indicative content
During the course, the following effects will be demonstrated using theoretical models:
• Effects of international flows of goods, services, labor and capital on aggregate product, relative cost of labor and capital.
• Effects of anti-import and pro-export policy on domestic demand and supply (product and prices).
• Effects of international trade agreements.
• Effects of globalization on changing supply and demand.
• Effects of climate change on aggregate product and prices, mobility of factors.
Support literature
Textbook:
FEENSTRA, Robert – TAYLOR, Alan. International Economics, Worth Publishers, 2017.
Papers in scientific journals:
SAMUELSON, Paul. Where Ricardo and Mill Rebut and Confirm Arguments of Mainstream Economists Supporting Globalization, Journal of Economic Perspectives, summer 2004.
FREEMAN, Richard. Are Your Wages Being Set in Beijing? Journal of Economic Perspectives, Summer 1995, pp.15-32
PUŠKÁROVÁ, Paula. Methodological Dichotomy in the Studies of Knowledge Spillovers: CEE Region Under Focus. In Knowledge Spillovers in Regional Innovation Systems : A Case Study of CEE Regions. - Cham : Springer, 2018, pp. 253-286.
PUŠKÁROVÁ, Paula. Analýza vplyvu ľudského kapitálu na celkovú produktivitu faktorov v regiónoch EÚ modelom SDM. In Politická ekonomie : teorie, modelování, aplikace. - Praha : Vysoká škola ekonomická. 2015, vol. 63, no. 5, pp. 658-674.
PUŠKÁROVÁ, Paula - PIRIBAUER, Philipp. The Impact of knowledge spillovers on total factor productivity revisited: new evidence from selected European capital regions. In Economic Systems. 2016, vol. 40, no. 3, pp. 335–344.
PUŠKÁROVÁ, Paula - DANCÁKOVÁ, Ivana. Malthus Is Still Breathing: Environmental Concerns and Attitudes Towards Immigration in Europe. In Mondes en développement. - Liége : Cairn.info. 2018, vol. 46, no. 4, pp. 65-81.
PUŠKÁROVÁ, Paula - GURNÍKOVÁ, Jana. The Research and development performance of various EU social regimes. - Registrovaný: Scopus. In Comparative Economic Research : Central& Eastern Europe. - Warsaw : De Gruyter. 2013, vol. 16, no. 4, pp. 23-38.
Syllabus
• Introduction, Theories of Comparative Advantages + Critique. • Standard Trade Model, Hecksher-Ohlin Model. • Offshoring. • Factor Mobility. • Tariffs and Export Subsidies. • Trade Agreements. • Globalization. • Environmental Migration.
Requirements to complete the course
Class participation including the selection and presentation of a current topic - 30%
Research paper – 35%
Final exam – 35%
Student workload
Lectures and seminar participation: 32 hours
Preparation for lectures and seminars: 32 hours
Elaboration of final paper: 120 hours
Preparation for written exam: 72 hours
Consultation regarding final paper: 4 hours
Language whose command is required to complete the course
Slovak, English
Date of approval: 06.03.2024
Date of the latest change: 23.03.2022