International Trade - Interactive curriculae of TU Ilmenau

Bachelor degree

Students know the nature, scope, direction and development of international trade flows, the reasons and effects of international trade in theory, the motives, instruments and effects of protectionism, the underlying institutions and the instruments of European and international trade regimes. In addition, they are familiar with the adjustment processes under flexible or fixed exchange rates and with the institutions and instruments of the European Monetary Union. Students can explain and forecast real trade flows based on economic theories and describe and assess the effects of tariffs, quotas and non-tariff trade barriers. They are able to explain the European economic order and the effects of the European internal market in internal and external relations both theoretically and scientifically as well as in terms of realpolitik. They possess the analytical competence to apply theoretical concepts to real economic problems. For instance, they are able to present and assess the effects of central exchange rate regimes with their national and international contexts, as well as to present and assess the European Monetary Union with its access requirements, institutions and instruments in theory and in practice. In the exercises, students have learned to work independently on tasks, to present to the group and to receive immediate feedback from the instructor and fellow students as well as to formulate constructive feedback themselves. After intensive discussions during the lectures and especially in a smaller environment during the exercises, the students can correctly assess and appreciate the performance of their fellow students. They take criticism into account, heed comments and accept advice.

Presentation of the real structures of the economy at the international level, classical theories of international trade, modern real theory of foreign trade, manifestations, causes and instruments of protectionism, trade regimes at the European and international levels, theoretical exchange rate regimes, European and international monetary regimes.

Internet access, a technical device (e.g. laptop), and a communication software (webex)

Krugman, P.R./Obstfeld, M./Melitz, M.J. (2022), International Economics: Theory and Policy, Global Edition, 12^th edition, Global edition, Harlow, England

Written exam, 90 minutes

Prof. Dr. Grebel, Thomas

Written exam, 90 minutes