Those required by the degree program. An introductory background in international trade is recommended.
The aim of the course is to help understand the main features of the current wave of globalization. The course develops the main models of international trade and shows how to use them to interpret real world events.
The course covers the following topics:
• Globalization: definitions and stylized facts;
• Main sources of global trade and gains from trade;
• Globalization and income inequality;
• Firm heterogeneity and international trade: Why are exporting firms so different from non-exporting firms (in terms of productivity, skill composition of employment, ..)? Does firms' heterogeneity in the internationalization strategies differently affect the growth of industries and countries?;
• Theories of the multinational firm: The determinants of the choice to become multinational. The strategies of foreign expansion adopted by firms. The effects of the presence of multinational corporations on home and host countries;
• Offshoring and fragmentation of production;
• Trade policy, preferential trade agreements, and WTO;
• Current Account and Global Imbalances.
Lectures and in class discussion of real world events.
Specific lectures (about 8 hours of the course) will be devoted to empirical work on indicators and data on trade and multinational firms.
Written exam with 3 open questions (10 points each). Students have 90 minutes to complete the exam.
The exam aims to test the understanding of the economic models and the ability to link the models to events of the world economy.
The course exists in e-learning mode. The registration is strongly advised to all the students.
If the teaching is taught in mixed mode or at a distance, changes may be introduced compared to what is stated in the syllabus to make the course and exams usable also in these ways.