Course Duration: 15 Weeks
Level: Undergraduate / Graduate
Format: 3 hours per week (2h lecture + 1h seminar)
Assessment:
- Midterm Exam – 25%
- Research Paper / Project – 25%
- Participation & Quizzes – 10%
- Final Exam – 40%
Part I – Theory of International Economic Relations
Week 1 – Introduction to International Economic Relations
Objectives:
- Define IER and understand its role in the global economy.
- Trace the historical evolution of international trade and finance.
Key Topics:
- Nature and scope of IER
- Evolution of world trade and financial systems
- IER as part of global political economy
Suggested Readings:
- Krugman, P., Obstfeld, M., & Melitz, M. International Economics: Theory and Policy (Ch. 1–2)
- Oatley, T. International Political Economy (Ch. 1)
Assignment:
Short essay – “How globalization reshaped international economic relations.”
Week 2 – Theories of International Trade
Objectives:
- Explain major trade theories and their policy implications.
- Differentiate between classical and modern approaches.
Key Topics:
- Mercantilism, Absolute and Comparative Advantage
- Heckscher-Ohlin, New Trade Theory
- Strategic trade policies
Readings:
- Krugman & Obstfeld, International Economics (Ch. 3–6)
- Bhagwati, J. Free Trade Today
Assignment:
Create a comparative chart of major trade theories.
Week 3 – Theories of International Finance and Investment
Objectives:
- Understand the balance of payments and exchange rate systems.
- Discuss capital movements and FDI theories.
Topics:
- Exchange rate theories
- International capital markets
- FDI and portfolio investment
Readings:
- Carbaugh, R. International Economics (Ch. 12–14)
- Dunning, J. Eclectic Paradigm of International Production
Assignment:
Case study: “Exchange rate volatility and its impact on trade.”
Week 4 – Economic Integration and Globalization
Objectives:
- Explain forms and levels of regional integration.
- Evaluate globalization’s benefits and drawbacks.
Topics:
- Free trade areas, customs unions, economic unions
- Theories of integration (Viner, Balassa)
- Globalization trends and backlash
Readings:
- Baldwin, R. The Great Convergence
- Stiglitz, J. Globalization and Its Discontents Revisited
Activity:
Group debate – “Is globalization still beneficial for developing countries?”
Week 5 – International Economic Institutions and Governance
Objectives:
- Analyze the role of IMF, World Bank, WTO, and other global institutions.
- Understand global governance mechanisms.
Topics:
- Bretton Woods system
- Multilateral trade regimes
- Institutional reforms
Readings:
- Woods, N. The Globalizers: The IMF, the World Bank, and Their Borrowers
- WTO Annual Report (latest edition)
Assignment:
Policy brief – “Reforming global economic institutions for 21st century challenges.”
Part II – Modern International Economic Relations
Week 6 – Global Trade Structure and Dynamics
Objectives:
- Identify current global trade patterns and major players.
- Understand the role of global value chains.
Topics:
- Global trade trends
- Role of China and emerging markets
- Protectionism and trade wars
Readings:
- Baldwin, R. The Globotics Upheaval
- UNCTAD World Trade Report
Assignment:
Data analysis – “Global trade shares by region (2010–2025).”
Week 7 – International Monetary System and Financial Markets
Objectives:
- Analyze the evolution of the international monetary system.
- Assess the impact of crises and fintech innovations.
Topics:
- From Bretton Woods to post-crisis reforms
- Role of IMF in crisis management
- Cryptocurrency and digital money
Readings:
- Eichengreen, B. Globalizing Capital
- BIS Annual Report (latest)
Activity:
Seminar – “Can digital currencies stabilize or destabilize the global system?”
Week 8 – Foreign Direct Investment and Multinational Corporations (MNCs)
Objectives:
- Examine MNC strategies and their impact on host economies.
- Understand investment policies and incentives.
Topics:
- Types and motives of FDI
- Corporate strategies and global supply chains
- Taxation and regulation of MNCs
Readings:
- Dunning & Lundan, Multinational Enterprises and the Global Economy
- OECD Investment Policy Reviews
Assignment:
Case analysis – “Apple and global supply chain management.”
Week 9 – Economic Relations among Developed and Developing Countries
Objectives:
- Examine the North–South divide and its evolution.
- Evaluate aid, trade, and investment relations.
Topics:
- Development assistance
- Emerging economies (BRICS, ASEAN)
- South–South cooperation
Readings:
- Todaro, M. & Smith, S. Economic Development (Ch. 15–16)
- UNDP Human Development Report
Assignment:
Write a short paper on “South–South trade as a driver of development.”
Week 10 – Contemporary Issues in International Economic Relations
Objectives:
- Assess new global challenges affecting IER.
- Discuss sustainability and geopolitical tensions.
Topics:
- Trade wars and sanctions
- Climate change and green trade
- Migration, labor, and inequality
Readings:
- Rodrik, D. Straight Talk on Trade
- OECD Trade and the Environment Report
Activity:
Panel discussion – “Green trade and carbon border adjustments.”
Part III – Practical Aspects of International Economic Relations
Week 11 – International Trade Policy and Negotiations
Objectives:
- Understand trade policy instruments and negotiation processes.
- Explore WTO dispute settlement cases.
Topics:
- Tariffs, subsidies, quotas
- WTO and regional agreements
- Trade negotiations and diplomacy
Readings:
- Hoekman & Kostecki, The Political Economy of the World Trading System
- Selected WTO case summaries
Assignment:
Simulated WTO negotiation exercise.
Week 12 – Managing International Payments and Exchange Rates
Objectives:
- Apply knowledge of currency management and risk hedging.
- Analyze the balance of payments.
Topics:
- Exchange rate systems
- Currency markets and hedging tools
- BoP components and policy implications
Readings:
- Krugman & Obstfeld, International Economics (Ch. 17–19)
- IMF World Economic Outlook
Activity:
Workshop – “Exchange rate simulation: Managing currency risk.”
Week 13 – Foreign Economic Policy and Diplomacy
Objectives:
- Explore instruments of foreign economic policy.
- Assess the role of economic diplomacy.
Topics:
- Trade and investment promotion
- Sanctions, aid, and economic influence
- Comparative case studies: U.S., EU, China
Readings:
- Bayne, N. & Woolcock, S. The New Economic Diplomacy
- National policy white papers (selected countries)
Assignment:
Policy memo – “Design a small nation’s economic diplomacy strategy.”
Week 14 – Regional Economic Integration in Practice
Objectives:
- Analyze real-world examples of regional integration.
- Compare the performance of major trade blocs.
Topics:
- EU, USMCA, ASEAN, AfCFTA
- Regionalism vs. multilateralism
- Lessons from integration experiences
Readings:
- Mattli, W. The Logic of Regional Integration
- Official EU and ASEAN documents
Assignment:
Comparative report – “Economic effects of regional integration.”
Week 15 – Project & Course Wrap-Up
Objectives:
- Apply theoretical and practical knowledge to a real case.
- Present research findings.
Topics:
- Capstone presentations
- Course synthesis and review
Assignments:
- Final Project: Design a country’s international economic strategy (policy report).
- Final Exam Preparation
