International Economic Relations

  • Credits: 8
  • Ending: Examination
  • Range: 4P + 4C
  • Semester: winter
  • Year: 3
  • Faculty of International Relations

Teachers

Included in study programs

International Economic Relations

Teaching results

The aim of the course is to provide students with the theoretical foundations of international economics, especially in the field of international trade and the international resource movements, as well as practical knowledge about the current developments in international economic relations. The course emphasizes understanding the causes and consequences of economic interactions between the actors of the global economy, as well as the policies that influence these interactions and their economic outcomes.
Students will primarily acquire knowledge about:
• the structure and challenges of the contemporary global economy,
• the economic significance and consequences of various forms of international economic relations,
• policies and corresponding tools that influence international economic relations,
• development trends in global trade in goods and services, regional economic integration, international capital flows, and international labor movement,
• the institutional framework of the current international economic system,
• the involvement of the Slovak Republic in international economic relations.
Skills:
• students will be able to apply theoretical knowledge of international economics and related economic disciplines in the practice of international economic relations,
• students will be able to objectively evaluate current events and interconnections in the system of international economic relations,
• students will be able to graphically analyze certain phenomena occurring in international economic relations,
• students will be able to work with statistical databases and other information sources relevant to the field of international economic relations.
Competencies:
• identification and prediction of development trends in various forms of international economic relations,
• critical and creative thinking in the context of challenges and proposing solutions to issues in contemporary international economic relations,
• enhancing communication, presentation and argumentation student competences through practical exercises.

Indicative content

Introduction to the study of international economic relations. Structure of the global economy. Theoretical aspects of international trade. Development of world trade. Protectionism and tariff measures of commercial policy. Non-tariff measures of commercial policy. Liberalization of international economic relations. Multilateral trading system. International economic organizations. International capital movement. International movement of labor. Slovakia's involvement in international economic relations. Environmental aspect of international economic relations.

Support literature

Primary literature:
1. JANČOVIČ, Peter – DUDÁŠ, Tomáš (2024): Medzinárodné hospodárske vzťahy: teória a prax. Bratislava: Sprint dva, 1. vyd. ISBN 978-80-89710-61-4.
2. JANČOVIČ, Peter (2023): Medzinárodné hospodárske vzťahy. Praktikum. Bratislava: Vydavateľstvo EKONÓM, 1. vyd. ISBN 978-80-225-5105-2.
Secondary literature:
3. LIPKOVÁ, Ľudmila a kol. (2011): Medzinárodné hospodárske vzťahy. Bratislava: Sprint dva. ISBN 978-80-89393-37-4.
4. SCHENK, Catherine R. (2021): International Economic Relations since 1945. Londýn: Routledge, 2. vyd. ISBN 978-0-8153-9559-1.
5. SALVATORE, Dominick (2014): International Economics. Trade and Finance. Singapur: John Wiley & Sons Singapore. ISBN 978-1-118-17794-5.
6. FEENSTRA, Robert C. – TAYLOR, Alan M. (2017): International Economics. New York: Worth Publishers. ISBN 978-1-319-06171-5.
7. MAJEROVÁ, Ingrid – NEZVAL, Pavel (2011): Mezinárodní ekonomie v teorii a praxi. Brno: Computer Press. ISBN 978-80-251-3421-4.
8. BALÁŽ, Peter a kol. (2019): Medzinárodné podnikanie. Bratislava: Sprint dva. ISBN 978-80-89710-51-5.
9. KRUGMAN, Paul R. a kol. (2018): International Economics. Theory and Policy. Harlow: Pearson Education. ISBN 978-1-292-21487-0.
10. REINERT, Kenneth A. (2021): An Introduction to International Economics. New Perspectives on the World Economy. ISBN 978-1-108-45516-9.

Syllabus

1. The structure of international economic relations, the structure of the world economy in the context of the historical development of international economic relations 2. Breakdown of the world economy according to the various basic criteria of economic development, the subjects of the world economy in the context of the development of international economic relations 3. International division of labour - the essence, conditions for the involvement of national economies in the international division of labour 4. The essence of comparative advantages in international trade, their development, conditions of change of comparative advantages in the national economy, foreign trade and its roles in the national economy, functions of foreign trade in the national economy, real exchange relations - essence, conditions of change in the national economy 5. Balance of payments - its structure, interdependence of its individual components on individual forms of international economic relations 6. Historical development of the world economy, with an emphasis on the development after the Second World War, international trade - historical development and current state 7. Foreign trade policy - tasks, methods, principles, instruments autonomous passive 8. Contractual instruments of foreign trade policy 9. General Agreement on Tariffs and Trade - its importance for the liberalisation of world trade 10. The World Trade Organisation, its relevance for the liberalisation of world trade today 11. International capital movements - nature, graphical representation, historical development, trends 12. International movement of labour - nature, graphical representation, historical development and trends 13. Basic environmental issues in contemporary international economic relations, international/world conferences on the environment - their content and relevance for further developments

Requirements to complete the course

The final grade is based on a continuous assessment during the study part of the semester and an oral exam as follows: 40% of the final grade consists of the continuous assessment during the semester (10% of the overall assessment comes from an active participation in seminars and 30% comes from a written test in the second half of the semester), and 60% of the final grade is made up of an oral exam taken during the exam period.

Student workload

208 hours, out of which attendance at lectures represents 52h, participation in seminars represents 52h, preparation for seminars takes 26h, preparation for the test takes 26h, and preparation for the final exam takes 52h

Language whose command is required to complete the course

Slovak

Date of approval: 13.03.2024

Date of the latest change: 10.04.2025