The goal of this class is to learn the theory of international economics and apply it to real problems of the world economy. As for the learning goals, by the end of the course students should be able to: - Understand the classical models of international trade (Ricardo and Heckscher-Ohlin). - Analyze the gains from trade and their redistributive effects. - International Macroeconomics: Understand the relation between international trade, migration, and capital flows. - International Macroeconomics: Understand the concepts of trade deficit and trade surplus, and understand its relation to investment and savings. - International Macroeconomics: Apply tools to discuss the problems inside the EU and the current account deficit. In terms of specific skills, by the end of the course students should be able to: - Solve trade models graphically and analytically. - Determine prices, trade volumes, and welfare effects of trade liberalization. - Calculate costs and benefits of trade liberalization and protectionism for different groups. - Calculate the costs and benefits of liberalizing migration. - Solve case studies related to globalization. - Analyze graphically the effects of monetary and fiscal policy under different regimes. In terms of competences, the course focuses on: - The capacity to solve complex problems graphically and analytically. - The capacity to relate economic theory to real the real problems of the global economy. In terms of attitude, the course expects students to - Develop a critical, open and informed opinion in the debate on the effects of globalization. - Develop a scientific approach in the challenging task of analyzing complex real world problems.

K1: Acquire the knowledge, techniques and terminology specific to the field of economics, politics and international relations. K3: To know basic humanistic contents, oral and written expression, following ethical principles and completing a multidisciplinary training profile. K4: Acquire knowledge of the economic, legal, political and social reality from a comparative perspective. K6: To understand the structure of markets and the impact of public intervention on them. K7: To know and understand the main models of political, economic and social organization of States and the processes of change in contemporary societies and politics. K9: To know the relevant political and sociological theories to understand the structure and functioning of the main socio-political systems. S3: Plan and organize team work making the right decisions based on available information and gathering data in digital environments. S8: Knowing how to propose and use the appropriate tools to solve basic problems of economic, social and political content, especially in the international context. S10: Ability to gather and interpret relevant data and knowledge for the elaboration and defense of arguments on topics in their area of study. C3: Ability to establish good interpersonal communication and to work in multidisciplinary and international teams. C4: Be able to engage in lifelong autonomous learning, enabling them to adapt to new situations.

The course focuses on the theory of international economics. The first part covers international trade. The most important topics covered are: patterns of trade and specialization (from the classical models --- Ricardo and Heckscher-Ohlin --- ); gains from trade and effects of international trade on income distribution. Along the way, several important real world problems will be discussed, such as the effects of offshoring on wages. In the international macroeconomics part, the most important topics are:current account; exchange rates; relationship between interest rates and inflation and monetary and fiscal policy under different regimes. These tools will be useful to understand current policy issues as European Union or the financial crisis.

The course consists of theoretical lectures and sessions of problem solving. Students are expected to solve and hand in problem sets. Problem solving is essential to acquiring the knowledge and skills required by this course.