International Economics

The course introduces students to the main theories and methods of international economics. The first half of the course deals with the basic models explaining international trade, such as the theory of comparative advantages, the Hecksher-Ohlin model, and various alternative trade theories. The effects and reasons of government intervention in international trade, a topic of growing importance today, will be discussed, along with the pros and cons of protectionism. During the second part of the semester the course will discuss other topics of international economics, such as international factor flows, international finance and foreign exchange. The course combines rigorous economic analysis with attention to issues of economic policy alive and important today. Special attention is given to analyzing current world economic events, as well as the relevance of empirical application of the theories and models discussed.

Corvinus University of Budapest awards credits based on the ECTS system (2 ECTS credits equals 1 U.S. credit therefore, 6 ECTS credits is equivalent to 3 U.S. credits). At Corvinus University of Budapest, all classes meet for a minimum of 180 minutes per week. Contact hours are calculated through a combination of lecture hours and outside activities which can include (workshops, seminars, fieldwork activities, guest lectures, and independent work) therefore, contact hours may vary on syllabi.