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Grado en Comercio y Marketing

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Relaciones Económicas Internacionales

Código asignatura
GCOMAR01-2-003
Curso
Segundo
Temporalidad
Segundo Semestre
Materia
Comercio Internacional
Carácter
Obligatoria
Créditos
6
Pertenece al itinerario Bilingüe
Yes
Actividades
  • Tutorías Grupales (4 Hours)
  • Clases Expositivas (28 Hours)
  • Prácticas de Aula/Semina (21 Hours)
Guía docente

International Economic Relations course (Commerce and Marketing Degree) is included in the International Trade area of studies.

The course deals with the economic analysis of globalisation and the economic interrelations that were outlined in World Economy course (1st year course). So, it relates backwards with World Economy course and forward with Foreign Trade (3rd year course) and International Trade and Emerging Markets (4th year course).

This course is divided in three main parts. Firstly, it focuses on international trade and trade policies analysis, from Heckscher-Ohlin model to later theoretical developments. Secondly, exchange rates and their influence on trade and financial relations are dealt with, together with international economic transmission mechanisms. Lastly, trade and monetary integration are studied with special emphasis on the European Union integration process.

It is highly recommended that students have previously followed the three previous semesters and acquired the competences expected from 2nd year university students: reading, writing and oral expression capacities, team work capability, English language knowledge, use of ICT tools and, mainly, a true interest for learning.

Also, a good knowledge of the 1st year subject World Economy is recommended.

As established in the Memoria de Grado, the following competences should be reached:

GENERAL COMPETENCES

1,2,3,4,5,6,11,14,15,16,21,23,25

SPECÍFIC COMPETENCES

1,2,3,27,28,29,30,34

Teaching results

RA4.1. To be able to understand the main issues of the world economic environment both individually and through debate in multiple working groups.

RA4.2. To be able to apply the concepts and basic methodology of economics in order to understand and analyse problems of the world economic environment.

RA4.3. To learn how to use the most suitable tools for the economic analysis to evaluate the existing interdependence relationships in the studied economic areas.

RA4.4. To improve the capacity to obtain and interpret the information and material necessary to understand the world economic environment, recognizing the different levels of validity of these sources.

RA4.5 To strengthen the ability to use computing tools which allow, individually and as a group, to gain a closer understanding of the world economic environment.

RA4.6 To strengthen the ability to use information technology as a means of communication in an international world economic environment.

RA4.7 To be able to discuss and debate in a multicultural working group the principal problems presented by the economic, being able to evaluate the technical quality of the different arguments employed.

RA4. 8. To improve the capacity to transmit information and to give informed advice on issues relating to the world economic environment and to be able to synthesize and share, both with their colleagues and with the general public, the results of tasks for which they are, individually or as a group, responsible.

RA4.9. To accept the need to increase their autonomy in order to deal with problems related with world economic environment, and to be aware of the responsibilities (both individual and collective) related with one’s work quality.

1. International economic relations and globalization
1.1. Globalization: concept and implications

1.2. The agents of globalization
 

2. International trade
2.1. The Heckscher-Ohlin model and its economic implications

2.2. The new theories of international trade

3. Trade policy
3.1. Trade policy instruments and different forms of protection

3.2. The debate on protectionism: main arguments
 

4. Trade integration
4.1. Regional economic integration: concept and types

4.2. Effects of integration on participating economies

4.3. The case of the European Union (EU): the European Single Market
 

5.-Exchange rates, foreign exchange market and open macroeconomics
5.1. Exchange rates: concepts and implications

5.2. Exchange rates and their influence on trade

5.3. Exchange rates and financial factors

5.4. The "trilemma" of open economies

5.5. Interdependencies and cooperation in the International Monetary System

6. Monetary integration
6.1 Costs and benefits of a single currency. Optimal Currency Areas

6.2 European Economic and Monetary Union (EMU)

 


 

The subject comprises both in-class teaching and autonomous learning. The following table shows the different teaching modalities distribution.

IN-CLASS                                      AUTONOMOUS    

                     TEACHING                                        LEARNING

Topics

Hours (total)

Lectures

Workshop, Seminars

Language (practical)

Group tutorials

Evaluation

Total

Virtual Campus

Group work

Individual A. learning

1

5,75

1,75

3

1

12,5

18,25

2

6,5

3,5

3

2,5

10

19

3

7,5

3,5

3

1

2,5

10

20

4

6,5

3,5

3

2,5

10

19

5

13,25

9

3

1

5

17

29,25

6

13

4,75

3

2,5

10

19

Total

53

24,5

21

0

4

3,5

53

15

82

150

Work type

Horas

%

Totales

In-class teaching

Lectures

24,5

16,33

35,33

Workshop, Seminars

21

14

Language (practical)

-

Group tutorials

4

2,66

Evaluation

3,5

2,33

Autonomous learning

Groupwork

15

10

64,66

Individual autonomous learning

82

54,66

Total

150

Autonomous learning includes individual and group study, readings, papers and/or presentations elaboration, exercises solving, conferences, etc.

The evaluation system is structured into two main sections. During the course, we apply a continuous evaluation of the students, to the extent that the size of the group allows, where they can obtain a 40% of the total score of the subject. The final exam, which represents up to 60% of the total score, seeks to discriminate the individual fulfilment of the proposed objectives. To pass the subject it is necessary to obtain at least 40% of the maximum possible mark on the final exam (2.5 out of 6 points, regardless of the continuous evaluation grade).

The evaluation will consider aspects related to learning competencies and outcomes, both in terms of knowledge of the subject and in other training aspects. The assessment may include questions on concepts, essay questions, graphical analysis, case studies, assignments on related readings, exercises, and/or applications either in the final exam or in the continuous evaluation activities during the course.

EVALUATION

ACTIVITIES AND EXAM

Weight in the final grade (%)

 Continuous assessment

  • Activities type 1: follow-up tests about the contents of the subject (at least two tests)
  • Activities type 2: Reading and analysis of short documents about international economy / Searching for news and data about international economic relations (at least two activities).

  2.25 (22.5%)

  1.75 (17.5%)

  Maximum mark to be obtained through continuous assessment activities

  4 (40%)

 Final exam

  The subject cannot be passed unless a minimum of 2,5 points is obtained in the final exam

  6 (60%)

The score obtained in the continuous evaluation process will be valid for the ordinary and extraordinary calls within the academic year a student is enrolled in the course (January, May and June).

For those students officially under the differentiated assessment scheme, the evaluation procedure will be the following:

Activities and tests meant to be submitted/delivered via Campus Virtual will be evaluated using the same deadlines and conditions established for the students under the ordinary evaluation scheme. Apart from that, the final exam will include some additional questions for students under the differentiated assessment, and the mark obtained from those will complete 40% of the total grade corresponding to the continuous assessment that couldn't be achieved through the aforementioned activities and tests. The objective of these additional questions is to evaluate the development of skills and abilities that the rest of the students acquired in class through face-to-face interactions. In any case, the Governance Committee will assess and decide on the said procedure.

Please remember that the Code of Ethics of the University of Oviedo is in force and applicable, and it can be accessed from the following link:

https://www.uniovi.es/en/conocenos/uniovi/nosotros/etica

BASIC BIBLIOGRAPHY

PUGEL, T. (2020): International Economics, 17 ed. McGraw Hill.

BALDWIN, R., y WYPLOSZ, C. (2019): The Economics of European Integration, 6 ed. McGraw Hill.

KRUGMAN, P. R., M. OBSTFELD y M. J. MELITZ (2020): International Economics: Theory and Policy. 11 ed. Pearson.

TUGORES, J. (2006): Economía Internacional: globalización e integración regional. McGraw Hill. Madrid.

ADDITIONAL BIBLIOGRAPHY

DURÁN ROMERO, G.; GARCÍA DE LA CRUZ, J.M., SÁNCHEZ DÍEZ, A. (2013): Estructura Económica y Relaciones Internacionales, Garceta, Madrid.

OMC (2019): Informe sobre el comercio mundial 2018: El futuro del comercio mundial: cómo las tecnologías digitales están transformando el comercio global, Ginebra, disponible en: https://www.wto.org/spanish/res_s/publications_s/world_trade_report18_s.pdf

REQUENA SILVENTE, F. (2017): Globalización, integración comercial y bienestar, Información Comercial Española, 896, 43-59.

UNCTAD (2018): Informe sobre el comercio y el desarrollo. El poder, las plataformas y la quimera del libre comercio.  Nueva York y Ginebra, UNCTAD/TDR/2018. Disponible en: https://unctad.org/es/PublicationsLibrary/tdr2018_es.pdf

Regarding additional references and course materials, each lecturer will comment on the most relevant sources (further reading, diagrams, notes...) to enable students to follow the course properly, alongside the specific rules governing the course progress.