Objectives and competences
In this course students:
1. Upgrade their knowledge about the fundamentals of world economy with a thorough analysis of interactions between international trade flows and countries economic performance in regulated financial environment.
2. Gain through a systematic study a better insight in the linkages of world trade and economic growth at the theoretical as well at the empirical level in regulated financial environment.
Content (Syllabus outline)
1. Factors of economic growth in the global economy and in the regulated financial environment
2. Linkages of international trade, economic growth and financial regulation
3. The impact of international trade on economic activity in regulated financial environment
4. The impact of economic activity on export-import flows, procyclicality of financial regulation
5. Empirical approaches for testing the links between international trade, economic activity and financial regulation
6. Balance of payments constrained growth and the regulated financial environment
7. The empirical significance of price mechanisms in the international economy
8. Banking union and the impact on international trade and economic growth
Learning and teaching methods
lectures;
- discussion of the seminar papers;
- teachers' consultations;
- self study with literature
Intended learning outcomes - knowledge and understanding
Development of Knowledge and Understanding
The learner:
? Knowledge base: has great depth and systematic understanding of linkages of international trade and economic growth in regulated financial environment.
? Ethical issues: can analyse the ethical dilemmas by solving economic issues at the scientific level.
? Disciplinary methodologies: has a comprehensive understanding of empirical techniques for estimation of foreign trade-output links in regulated financial environment.
Cognitive and Intellectual Skills
The learner:
? Analysis: with critical awareness, can undertake analysis, managing complexity, incompleteness of data or contradictions in the areas of international economics.
? Synthesis: can synthesize approaches and findings by forming scientific explanation.
? Application: can act independently and with originality in problem solving and is able to evaluate the role of empirical findings in international economics.
Key / Transferable Skills
The learner:
? Group working: can lead/work effectively with group, can clarify tasks and manage the capacities of group members.
? Learning resources: is able to use full range of learning resources.
? Management of information: upgrades the ability to become an autonomous learner and is able to undertake research tasks.
? Autonomy: is independent and self-critical as learner; guides and supports the learning of others and can manage own continuing professional development.
Practical Skills
The learner:
? Application of skills: can operate in complex and dynamic contexts of regulated financial environment that may be at the forefront of knowledge.
? Autonomy in skill use: can act in a professional capacity for self/others, with responsibility and largely autonomously.
Readings
Borkakoti Jitendralal. 1998. International Trade: Causes and Consequences. An Empirical and Theoretical Text. London: Macmillan Press.
Krugman R. Paul, Maurice Obstfeld. 2006. International Economics. Theory and Policy. Massachusetts: Addison-Wesley.
Marrewijk Van Charles. 2002. International Trade and the World Economy. Oxford: Oxford University Press.
Izbrani znanstveni članki/Selected scientific articles
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on structural measures improving the resilience of EU credit institutions. COM/2014/043 final-2014/0020 (COD).
Directive of the European Parliament and the council: Establishing a framework for recovery and resolution of credit institutions and investment firms and amending Council Directives 77/91/EEC and 82/891/EC, Directives 2001/24/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EC and Regulation (EU) No. 1093/2010. COM (2012/280/3) European Central Bank. 2011. A bail-in case study exercise. December 2011.
Tanzer, Monika, Sagmeister, Susanne, Merc, Georg, Strobl, Peter. 2012. Recovery and resolution plans. FMA. Vienna: Österreichische National Bank. Vienna Initiative. European banking Coordination. 2012. Working group on NPLs in Central, Eastern and Southeastern Europe (CESEE). March 2012.
Additional information on implementation and assessment - Seminar work 50
- written examination 50
Student passes the exam, when each part of the examination is evaluated as positiv.
