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The purpose of this course is to provide students with the basic knowledge of international trade theories and international trade development trends in last decades. Special attention is given to international trade position of Central and Eastern Europe. This course offers an approach to the censequences of the current changes in (formerly) East-West trade for trade opportunities within the region. Important part of the course represent globalisation effects on World Trade and World Economy.
Methods of presentation: Lectures and open discussions.
Content: • International Trade Theories Historical Roots: Mercantilists, Physiocrats Classic Theories: Absolute and Comparative advantages - A. Smith, D. Ricardo, Theory of Terms of Trade - J.S. Mill Neo-classic Theories: Heckscher-Ohlin Model, Stolper-Samuelson Theorem, Leontief's paradox, Theory of opportunity costs - Haberler, Decreasing costs, Theory of production cycle Keynesians' contribution Modern Theories of International Trade: Economies of Scale, Geographical concept, Technology Gap Theory Protectionist Theories
• International Trade Policy Main Principles: Liberalism versus Protectionism in Trade Policy Tariffs and non-tariffs barriers Export Promotion Measures Tools of Negotiations in International Trade Policy Bilateralism, Multilateralism
• International Economic Organizations GATT World Trade Organisation UNCTAD International Financial Institutions: IMF, World Bank, IBRD, IBIS
• Regionalism and World Trade EU, EFTA NAFTA CEFTA Regional integration and WTO
• International Trade: Long-Term Trends Dynamics, Structure: commodity proportions, territorial proportions, prices, terms of trade Developing countries in International Trade International Trade Position of Central and Eastern Europe International Trade in Services
• Glogalisation in World Trade and World Economy Macroeconomic aspects of the globalisation, its influence on trade and capital flows The actual situation in the global economy and its short-term forecast Effects of the globalisation on the microeconomic level, the emergence of global corporate networks Implications of the globalisation for individual economic subjects, entepreneurial strategies in a globalising world economy
Reading material:
Lindert P. H.: International Economics, eight edition, selected parts Trebilcock M. J.,Howse R.: The Regulations of International Trade, London, 1995, selected parts Trade and Development, Report, 1997, Chapter I Trade and Development, Report, 1997, Chapter VI Economic Bulletin for Europe, Vol.48 (1996), Foreign Trade of the Transition Economies WTO 1995, Information and Media Relations Division, WTO 1995 World Investment Report, UNCTAD, Geneva 1996, Chapter III Sereghyova J.: New Features of International corporate Net-working,
How to Obtain Credits:Assessment criteria and structure:Active lecture/seminar/workshop/tutorial participation - 50 % Term paper - 10 % Presentation - 10 % Final test - 30 %
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