International Economic Relations

-the meaning and forms of international economic relations, international microeconomic and macroeconomic as part of the theory of international economics. - The study of the change and development of the international economic environment in the internationalization and globalization of economic life processes. Forms, methods and tools of international financial transactions. - development of objective knowledge of the world economy, as a universal interconnection system of national economies. - the operating principles of the mechanism of the global and European economy. and the role of international financial institutions and associations in solving the problems of the global economy. -analysis of international economic exchanges with the use of classical and neoclassical theory of international trade - the theory of trade policy (tariffs and protection), the theory of customs unions and common market (the international mobility of production factors). - the international monetary, currency and financial system. -theory of balance of payments and the macroeconomic role of balance of payments and macroeconomic regulation in small and large open economy. -the foreign exchange market and exchange rate theory. -On exchange rate policy, the macroeconomic role of the SI, the tools of monetary and exchange rate policy. -The macroeconomic equilibrium in open economy models of internal and external economic equilibrium in the open economy. - The international macroeconomic policy in open economy with fixed and floating exchange rate.

Objectives

1. has knowledge of international microeconomic and macroeconomic and determinism explains the operation of open economies and the global economy altogether. 2. has knowledge and analyze the peculiarities formation and functioning of the global trading and financial system, the complex conditions of globalization of economic transactions. 3. understands the international economic exchange and explain the classical and neoclassical theory of international trade. 4. understand and distinguish classical and neoclassical theory of International Trade, and alternative theories of International Trade. 5. have knowledge and illustrates the international movement of factors of production: theories of international working capital and workforce, the international transfer of technology. 6. aware and distinguish the international trade policy: tariff and non-tariff methods of regulation of international trade. 7. understand and measure international credit and finance, and to understand the theory of international investment. 8. Understand and explain the international economic integration. Understand and assess the theory of customs unions and common market. 9. aware and explain the theory of balance of payments (BP) and the macroeconomic role of the Balance of payments, but also differentiates the macro setting in the small and large open economy. 10. identifies the foreign exchange market (sight and time) and explain models of the exchange market. 11. distinguishes the types of Exchange Rate (SI) and medium-term factors that define the nominal SI, but also to apply the arrangements for calculating SI. 12. understands and explains the main theories of exchange rate, nominal and real SI and changes of SI. Understand the theory of PPP (PPP) currency and compares the overestimated and underestimated a country's currency. Explain the theory of optimum currency areas. To evaluate the effect of asynchrony in inflation rates and exchange-rate fluctuations in the foreign trade of the country. 13. explains the exchange rate policy and the macroeconomic role of SI, but also the tools of monetary and exchange rate policy. Describing the European experience of monetary union. 14. to analyze and explain the macroeconomic equilibrium in the open economy and models of internal and external balance. 15. analyzes the external and internal balance of the open economy, explain the macroeconomic policy in open economy with fixed and floating SI and apply the tools of fiscal, monetary and external trade policy with a small and highly mobile capital in the extended IS-LM model -VR the open economy. 16. explain and analyze the macroeconomic planning in open economy, a sustainable balance of payments and the harmonization of macroeconomic policies in the context of regional economic integration organizations (EU and euro zone).

Prerequisites

No prerequisites

Syllabus

1. The structure and functioning of the international economic system. The creation of the global economy. 2. The classical and neoclassical theory International Trade. The theory of the international mobility of production factors. The overall balance in international trade. Alternative theories of International Trade. 3. The international movement of factors of production: theories of international working capital and workforce, the international transfer of technology. 4. The international trade policy: tariff and non-tariff methods of regulation of international trade. 5. The international credit and finance. The theory of international investment. 6. The international economic integration. The theory of customs unions and common market. 7. The international accounts and balance of payments. The macroeconomic role of the Balance of Payments. 8. The International Monetary System. The Exchange rate (SI) and the foreign exchange market. 9. Theory of Exchange Rate. The Exchange rate policy. 10. Macroeconomic equilibrium in the open economy. Macroeconomic policy in an open economy with fixed and floating SI. 11. The International EU economic policy and external economic relations of Greece. 12. Globalisation and development trends of the global economy.