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Programme d'approfondissement - ECO_51060_EP : International Economics

Domaine > Economie.

Descriptif

This course introduces students to International Economics. It combines theory and empirics to provide a better understanding of globalization and related policy

discussions. The course has two parts: international trade and international capital flows.

In the first part, we will look at empirical regularities in trade flows and traditional theories of international trade. We will also discuss trade policy (especially tariffs) and

their welfare impact. The second part addresses international capital flows and exchange rates. We will review traditional theories of current account imbalances, and factors explaining their

persistence. We will discuss how current account adjustment affects economies under fixed and flexible exchange rates. Finally, we will study public policy in currency unions

and review recent economic debates in the Euro Area.

Format des notes

Numérique sur 20

Littérale/grade réduit

Pour les étudiants du diplôme MScT-Data and Economics for Public Policy (DEPP)

Le rattrapage est autorisé (Max entre les deux notes)
    L'UE est acquise si note finale transposée >= C
    • Crédits ECTS acquis : 4 ECTS

    La note obtenue rentre dans le calcul de votre GPA.

    Pour les étudiants du diplôme MScT-Economics, Data Analytics and Corporate Finance

    Le rattrapage est autorisé (Max entre les deux notes)
      L'UE est acquise si note finale transposée >= C
      • Crédits ECTS acquis : 4 ECTS

      La note obtenue rentre dans le calcul de votre GPA.

      Pour les étudiants du diplôme Programmes d'échange internationaux

      Pour les étudiants du diplôme Titre d’Ingénieur diplômé de l’École polytechnique

      Le rattrapage est autorisé (Note de rattrapage conservée)
        L'UE est acquise si note finale transposée >= C
        • Crédits ECTS acquis : 5 ECTS

        La note obtenue rentre dans le calcul de votre GPA.

        Programme détaillé

        1. International Trade: An Introduction (GC)

        Stylized facts about world trade. Introduction to the gravity equation, Armington trade model.

        PC: The ‘China shock’ and the French labor market.

        2. Ricardian models of international trade (GC)

        Comparative advantage. The Ricardo model and extensions.

        PC: The Dornbusch-Fischer-Samuelson model

        3. Imperfect competition models of international trade (GC)

        The Krugman model. Extension to 2 sectors. The gravity equation.

        PC: Deriving the gravity equation from the Krugman model.

        4. Trade policy (GC)

        Trade policy instruments and welfare. Trade agreements. ‘Tariff wars’

        PC: Tariffs and trade agreements.

        5. Current account and capital flows (DG)6. 7. 8. Stylized facts on capital flows. Determinants of capital flows. Intertemporal approach of current account. Metzler diagram.

        PC: Current Account in a small open economy with investment (Fisher model)

        6. Global imbalances and adjustments (DG)

        Determinants and persistence of current account imbalances. Internal/external real exchange rates. Traded/Non-Traded model.

        PC: Open-economy Solow model

        7. Macroeconomic equilibrium and nominal exchange rates (DG)

        Forex markets, exchange rate regimes. Nominal exchange rate theories.

        PC: Dornbusch ‘overshooting’ model

        8. Economic policy in the Eurozone (DG)

        Policy tools in the EZ. Asymmetric shocks in currency unions. Sovereign debt crisis and other current issues.

        PC: Mundell-Fleming model in a currency union

        9. Revision (DG)

        Assignment. Students’ questions. Guest lecture by Clément Montes (CREST) on Trade Sanctions.

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