International Economics (5 cr)

Evaluation scale

H-5

Content scheduling

Course Overview:

This course provides students with a comprehensive introduction to the field of International Economics, focusing on the fundamental principles that govern global trade. By the end of the course, students will have a good understanding of the key theories of international trade, as well as the ability to critically evaluate the limitations and critiques of both classical and modern trade theories, particularly in relation to real-world applications.

Students will explore the dynamics of globalization, examining its benefits and challenges, as well as understand the dynamics of trade barriers, protectionism, and the increasing interconnectedness of global markets. The course will also equip students with the tools to follow and analyze current events in international economics, including trade patterns and issues that shape the global economy.

Learning Objectives:

Upon successful completion of this course, students will be able to:

- Understand the key concepts and principles of International Economics.
- Analyze and interpret global trade patterns and trends.
- Critically assess classical and modern trade theories, considering their limitations and relevance in the contemporary world.
- Discuss the benefits and challenges of globalization, including the impact of trade barriers and protectionism.
- Analyze current issues in international economics and relate them to real-world trade policies.
- Track and evaluate international economic developments through news and media coverage.
- Gain a comprehensive understanding of international trade policy and the role of international economic organizations.
- Explain the evolution and various forms of global trade policies, and identify the position of different regions and countries within these frameworks.

Objective

After completing this course the student is able to follow media and the news concerning international economy and world's trade has an overview on the foundation of international economy and the forms of trade policy is able to explain the development and various forms of the world's economic integration and the position of Finland in this context understands and is able to explain the function of open macroeconomics

Content

Contents: foundations of international economy forms of trade policy; forms of economic integration key theories explaining international trade and trade policy international monetary system and regional monetary integration

Materials

Will be communicated during the first lecture.

Teaching methods

Lectures, group assignment, groupworks and individual assignments.

In this course we are utilizing a student-centered approach in which students learn about a subject by working in groups to solve an open-ended problem. Students must identify the needed information. They learn the information and apply it to solve the problem.

Note: The students study the theoretical background mostly at home (cf. reading to be completed prior to every class)
The contact hours are mainly used to do group works and workshops.
Bring your own devices for each “lecture” as the internet access are needed to do the group works.

Exam schedules

Will be communicated during the first lecture.
Information available in Itslearning.

Exam in May. Dates in itslearning.

International connections

Lectures, group assignments and individual assignments.

Note:
Use of AI: AI tools, such as language models, may be used as an help to perform tasks, for example to retrieve information and generate initial guidelines for solutions. Make sure you always explain in your list of references which AI tolls you used (Chat GPT, DeepL, Copilot, etc.), for what and how. Not complying with this will automatically lead to a fail for the assignment/task in question.

In line with the principles of responsible use of AI, we require the following:

Own outputs and understanding: each student is responsible for all the content he/she writes. Students must ensure that they understand and can explain the content and context of their output.

Role of AI: The use of AI is allowed for data mining and generating initial ideas, but the solutions and analyses themselves must be developed and refined using the student's own ideas and insights. The content provided by AI should not be the student's decisive input, but rather a tool. This includes an explanation of how the information provided by the AI tools was used and what own thought processes were used to reach the final results.

In reflecting on individual assignments, teachers may ask follow-up questions, written or oral, to assess students' understanding and ability to justify their own work.

Honesty and use of sources: all sources and AI outputs used must be properly referenced. Plagiarism and unethical use of AI tools are not permitted. Students must also follow the institution's ethical guidelines and rules regarding the use of AI and academic integrity.

Completion alternatives

N/A

Student workload

Students workload: Lectures, group works/workshops, group assignment and individual assignment = 135hrs

Further information

Course content and guidelines for assignments in Itslearning.
Please email to lecturer anja.boxberg@turkuamk.fi, if inquiries outside the lectures.