ŁUKASZ CYWIŃSKI INTERNATONAL MARKETS. wsiz.rzeszow.pl

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1 ŁUKASZ CYWIŃSKI INTERNATONAL MARKETS wsiz.rzeszow.pl

2 Blackboard Course materials are distributed via Blackboard blackboard.wsiz.rzeszow.pl

3 Primarily via blackboard or for traditional consultations see course presenter's website, but first him! Consultations

4 SELECTED COURSE OBJECTIVES Unique features of economic transactions. Complications associated with various legal systems. Institutional foundations of world trade and national currency systems.

5 Theories of international exchange, exercises Theories of international exchange will be presented on examples. The task of students is to solve in groups, exercises from the theory learned in the lecture. And compare their results as part of the discussion.

6 Impact of foreign trade on national income The impact of foreign trade on national income will be discussed by including foreign trade in the national income account, along with the multiplier mechanism in the open economy and the reasons for imports. The properties of mass prices and individualized international goods will be presented. The changes in prices in foreign trade - terms of trade will also be analyzed.

7 Tariff and non-tariff tools, analysis of effects The division of customs duties, their functions and economic effects of customs duty as well as para- and non-tariff tools will be presented. Subsequently, a discussion will be initiated on the appropriateness of the introduction of the duty depending on the purpose of their introduction.

8 International flows of production factors, causes, and effects The causes and effects of international flows of production factors will be discussed along with the breakdown into their types. Particular attention will be paid to the effects of migration of population and direct investment along with discussing changes in Poland in this area in the last 10 years.

9 The international monetary system. The structure of the global monetary system will be outlined, including the role of the US dollar and the euro. The balance of advantages and threats of membership in the euro area will be discussed.

10 Financing foreign trade transactions and methods and forms of entering foreign markets. The forms of financing foreign trade transactions will be discussed, such as treasury, bill of exchange, factoring, forfeiting, leasing and countertrade, as well as such methods on foreign markets as: licensing, franchise, joint ventures, own branches, greenfield plants, etc.

11 Problems of developing countries. The subjects of developing and developed countries will be discussed, as well as their participation in integration groups, including the issues of optimal assistance sizes and policies of international organizations.

12 The balance of payments, structure and analysis The structure and method of booking operations in the balance of payments will be presented. The way of posting the operation will then be rehearsed using the analysis of hypothetical tasks. The balance of payments of Poland in recent years will be analyzed.

13 The exchange rate, causes and effects of volatility The definition and types of exchange rates will be presented, mainly due to the manner of its determination, as well as changes in exchange rates. Next, the factors influencing the exchange rate, including short- and long-term changes, will be discussed in detail. The subject of the last part of the course will be the impact of the exchange rate on the state economy.

14 Other aspects of the short and longterm economic policy of the state Other aspects of the state's economic policy in the field of international relations will be discussed, including the effects of joining the monetary union.

15 Project Theories of international exchange; Tariff and non-tariff tools, International flows of production factors, causes and effects; The exchange rate, causes and effects of volatility

16 Assessment method Discussion / Practical task Presentation of results of the project

17 CRITERIA FOR GRADING For the grade of 2 the student cannot For the grade of 3 the student can For the grade of 4 the student can For the grade of 5 the student can Characterize basic changes in structures in the global economy Characterize changes in basic structures in the global economy Characterize the changes of basic structures in the global economy, including their course and main causes and effects Characterize the changes of basic structures in the global economy with their causes, course, scale and consequences Correctly interpret basic economic phenomena occurring in the international economy Make general identification of basic economic phenomena occurring in the international economy Make precise identification of basic economic phenomena occurring in the international economy Make precise identification of basic economic phenomena occurring in the international economy and correctly interpret them

18 LITERATURE Obligatory Reading Krugman P.R., Obstfeld M., International Economics, Theory and practice, 2006 Nowakowski, M.K., Biznes Międzynarodowy, SGH Supplementary reading Elms, Deborah K. & Patrick Law, red. Global value chains in a changing world, WTO Publication, Geneva 2013 Hill Ch. International Business, 7 ed., McGraw Hill, 2009 Ferguson N., The Ascent of Money, Penguin Books, 2009/2008

19 wsiz.rzeszow.pl Thank you ŁUKASZ CYWIŃSKI