1 Discuss the impact of EU trade policy on developing countries' exports.
2 What are the lessons that can be learned from recent World Trade Organisation (WTO) case studies relating to anti-dumping measures and techincal barriers to trade (TBTs)?
3 Evaluate practical cases of specific export development activities in line with comparative and competitive advantages within the primary, secondary and tertiary sectors of the economy.
4 Either
Discuss the costs and competitiveness challenges of small open economies within the consequences and policy responses of the current financial and economic crisis.
Or
Examine successful examples of the application of the infant-industry argument for the development of export-oriented heavy industrialisation in major large developing countries.
Monday, June 15, 2009
International Economics - January 2009
Answer any three questions
1 Discuss the expected long-term economic benefits of a number of key initiatives as major regional concrete projects within the Barcelona Process: Union for the Mediterranean multilateral partnership.
2 Describe and evaluate the European Commission framework for recovery from the financial crisis.
3 Explain how international trade theory can be useful for public policy decisions to promote exports and export-oriented inward foreign direct investment.
4 In what ways tariff and non-tariff measures affect domestic production and international trade of goods and services?
5 Discuss the main adjustment policies for open-economy macroeconomic imbalances.
6 Examine the inter-relationship between international trade and economic development with reference to the current problems facing developing countries.
1 Discuss the expected long-term economic benefits of a number of key initiatives as major regional concrete projects within the Barcelona Process: Union for the Mediterranean multilateral partnership.
2 Describe and evaluate the European Commission framework for recovery from the financial crisis.
3 Explain how international trade theory can be useful for public policy decisions to promote exports and export-oriented inward foreign direct investment.
4 In what ways tariff and non-tariff measures affect domestic production and international trade of goods and services?
5 Discuss the main adjustment policies for open-economy macroeconomic imbalances.
6 Examine the inter-relationship between international trade and economic development with reference to the current problems facing developing countries.
Thursday, June 11, 2009
International Economics - 2008/2009
Objectives and assessment
The purpose of this study-unit is to familiarise the student with the fundamentals of international economics and to discuss some of the most important current issues and features. All students are encouraged to participate in the policy discussions during the lectures. The main topics of this year's two semesters are specified in the below list of contents.
There will be a 3-hour examination paper (6 topics to choose 3) at the end of each semester.
Major textbook
Salvatore Dominick (2007), International economics, 9th edition, John Wiley and Sons
Main topics
(1) International trade theory: mercantilism (p32); absolute advantage (p35); comparative advantage (p37); Heckscher-Ohlin theory (p131); factor-price equalisation theorem (p138); product differenciation and intra-industry trade (p179); technological gap (Posner 1961) and product cycle model (p188); static and dynamic gains from trade (p199; 209-210)
(2) International trade policy: effects of tariff measures on trade (p247-256); effective rate of protection (p257-261); non-tariff barriers (NTBs) to trade: quotas, export restraints, export subsidies; technical, administrative and other regulations (p291-302)
(3) Regional economic integration: preferential treatment; effects of free trade areas and customs unions; single market; economic and monetary union (EMU); economic integration issues and problems (chapter 10)
(4) Trade policy and economic development: import substitution; rent seeking and anti-export bias; export orientation, promotion and subsidisation; attraction of export-oriented inward foreign direct investment (FDI); technology transfer; export expansion and diversification (chapters 11 and 12)
(5) Open-economy macroeconomics: balance of payments (p451-454); current and capital accounts (p457); international investment position (p467); economic policy objectives (p644); basic adjustment policies - absorption approach (p625-627); expenditure-changing (fiscal and monetary policies (p644)), expenditure-switching (devaluation/revaluation (p645), Marshall-Lerner condition (p581), J-curve effect (p584) and price reversal effects) and direct controls policies (p646)
(6) The International Monetary System: present and future issues and problems (p780); International Monetary Fund (IMF) operation; IMF conditionality (p783); the main roles of the World Bank, the World Trade Organisation (WTO) (p317-326) and the World Customs Organisation (WCO) in international trade and economic development (chapter 21.6; IMF, World Bank, WTO and WCO websites)
(7) Export sector development cases in line with comparative and competitive advantages (case studies 1-1 and 1-2, p3-4; Together for a Sustainable Future - Pre-Budget Document 2009; www.tradeforum.org case studies on various countries)
(8) Contingency trade protection measures: anti-dumping (case study 9-3, p297; WTO case studies 17 and 38), anti-subsidy (countervailing case study 9-5, p300) and safeguards
(9) Case studies on non-tariff barriers to trade (case study 9-6, p301; WTO case study 24)
(10) Industrialisation in major large developing countries: application of infant-industry argument (p303); case studies on China, India, Pakistan, Turkey, Egypt, Tunisia, Mexico, Brazil etc, relating to energy, steel, shipbuilding, automobile and electronics industries
(11) Islands and small states: characteristics, problems and policy options in Eurozone (case study 20-4, p739; Central Bank 2007:4 Quarterly Review, p47-51; IMF assesses Malta: elimination of subsidies welcomed, Times of Malta 13.8.08; Government aiming for annual growth in tourism, The Commercial Courier, Aug-Sep 2008, p68-71)
(12) The impact of EU trade policy on developing countries: Economic Partnership Agreements (EPAs) and EU trade preferences (GSP+ and free trade areas with diagonal cumulation of origin rules) (www.ids.ac.uk)
Martin Spiteri
Director Excise and Systems
Customs Division
30 September 2008
The purpose of this study-unit is to familiarise the student with the fundamentals of international economics and to discuss some of the most important current issues and features. All students are encouraged to participate in the policy discussions during the lectures. The main topics of this year's two semesters are specified in the below list of contents.
There will be a 3-hour examination paper (6 topics to choose 3) at the end of each semester.
Major textbook
Salvatore Dominick (2007), International economics, 9th edition, John Wiley and Sons
Main topics
(1) International trade theory: mercantilism (p32); absolute advantage (p35); comparative advantage (p37); Heckscher-Ohlin theory (p131); factor-price equalisation theorem (p138); product differenciation and intra-industry trade (p179); technological gap (Posner 1961) and product cycle model (p188); static and dynamic gains from trade (p199; 209-210)
(2) International trade policy: effects of tariff measures on trade (p247-256); effective rate of protection (p257-261); non-tariff barriers (NTBs) to trade: quotas, export restraints, export subsidies; technical, administrative and other regulations (p291-302)
(3) Regional economic integration: preferential treatment; effects of free trade areas and customs unions; single market; economic and monetary union (EMU); economic integration issues and problems (chapter 10)
(4) Trade policy and economic development: import substitution; rent seeking and anti-export bias; export orientation, promotion and subsidisation; attraction of export-oriented inward foreign direct investment (FDI); technology transfer; export expansion and diversification (chapters 11 and 12)
(5) Open-economy macroeconomics: balance of payments (p451-454); current and capital accounts (p457); international investment position (p467); economic policy objectives (p644); basic adjustment policies - absorption approach (p625-627); expenditure-changing (fiscal and monetary policies (p644)), expenditure-switching (devaluation/revaluation (p645), Marshall-Lerner condition (p581), J-curve effect (p584) and price reversal effects) and direct controls policies (p646)
(6) The International Monetary System: present and future issues and problems (p780); International Monetary Fund (IMF) operation; IMF conditionality (p783); the main roles of the World Bank, the World Trade Organisation (WTO) (p317-326) and the World Customs Organisation (WCO) in international trade and economic development (chapter 21.6; IMF, World Bank, WTO and WCO websites)
(7) Export sector development cases in line with comparative and competitive advantages (case studies 1-1 and 1-2, p3-4; Together for a Sustainable Future - Pre-Budget Document 2009; www.tradeforum.org case studies on various countries)
(8) Contingency trade protection measures: anti-dumping (case study 9-3, p297; WTO case studies 17 and 38), anti-subsidy (countervailing case study 9-5, p300) and safeguards
(9) Case studies on non-tariff barriers to trade (case study 9-6, p301; WTO case study 24)
(10) Industrialisation in major large developing countries: application of infant-industry argument (p303); case studies on China, India, Pakistan, Turkey, Egypt, Tunisia, Mexico, Brazil etc, relating to energy, steel, shipbuilding, automobile and electronics industries
(11) Islands and small states: characteristics, problems and policy options in Eurozone (case study 20-4, p739; Central Bank 2007:4 Quarterly Review, p47-51; IMF assesses Malta: elimination of subsidies welcomed, Times of Malta 13.8.08; Government aiming for annual growth in tourism, The Commercial Courier, Aug-Sep 2008, p68-71)
(12) The impact of EU trade policy on developing countries: Economic Partnership Agreements (EPAs) and EU trade preferences (GSP+ and free trade areas with diagonal cumulation of origin rules) (www.ids.ac.uk)
Martin Spiteri
Director Excise and Systems
Customs Division
30 September 2008
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