SCHOOL

OF AGRICULTURAL SCIENCES

ACADEMIC UNIT

AGRICULTURE

LEVEL OF STUDIES

UNDERGRADUATE

COURSE CODE

GEB0407-2

SEMESTER

4

COURSE TITLE

 International Trade and International Economic Relations
INDEPENDENT TEACHING ACTIVITIES WEEKLY TEACHING
HOURS 		CREDITS
Lectures 3
Lab / Op. Exercises 0
Exercises 0

TOTAL HOURS

 3 5
COURSE TYPE Elective course
PREREQUISITE COURSES No
LANGUAGE OF INSTRUCTION and EXAMINATIONS In Greek
IS THE COURSE OFFERED TO ERASMUS STUDENTS Yes

COURSE WEBSITE (URL)

https:// eclass.uowm.gr/courses/AGRO155/

2. LEARNING OUTCOMES

Learning Outcomes
Upon successful completion of the course, the student should:
1. Understand the basic concepts of International Trade and International Economic Relations through the interconnection of theoretical and analytical tools with recent developments in the world economy
2. Become familiar with the concepts of absolute and comparative advantage
3. Be aware of the benefits of international trade, as well as its impact on income distribution
4. Become familiar with the role of international factor movements
5. Understand the basic trade policy instruments
6. Become familiar with the concepts of balance of payments and current account balances
7. Gain knowledge about the most important determinants of international trade flows
8. Become familiar with the implications of government interventions in international trade and income distribution
9. Become familiar with the operation of the different exchange rate systems
10. Become familiar with the existing literature and trends regarding Greece’s trade performance
11. Understand the analytical techniques of gravity modelling for trade
12. Understand the role of International Organizations in the development of International Trade

General Competences

 Search, analysis and synthesis of data and information, using the necessary technologies
 Adaptation to new situations
 Decision making
 Exercise of criticism and self-criticism
 Promoting free, creative and inductive thinking
 Development of interdisciplinary thinking

3. SYLLABUS


 Section 1: Introductory concepts
 Introduction
 Key figures for Greek export trade
 Brief history of international trade
 Section 2: The Ricardian model
 The theory of comparative advantage
 Productive possibilities curve
 Relative demand and supply curves
 The benefits from international trade
 Relative wages with international trade
 Section 3: Specific Factors and Income Distribution
 Productive possibilities
 Prices, wages and labor distribution
 Labor and income distribution
 Section 4: The Heckscher - Ohlin Model: Resources and International Trade
 The model Η-Ο
 Prices and production
 Factor pricing and product pricing
 Resources and product
 International trade with two production factors
 Section 5: External economies of scale and international division of production
 Economies of scale and international trade
 Economies of scale and market structure
 External economies of scale and international trade
 Interregional trade
 Section 6: Instruments of trade policy
 Tariffs
 Costs and benefits
 Other trade policy instruments
 Impact of trade policies
 Section 7: Political economy of trade policy
 Arguments For and Against Free Trade
 Income sharing and trade policy
 International negotiations and trade policy
 International trade agreements
 Section 8: The trade policy of developing countries
 Trade policy and developing countries
 Trade liberalization
 Trade policy responses
 Globalization and environment
 Case Study: International Migration and Exports (China)
 Section 9: Case study – Greek exports to China
 Determinants of international trade
 Gravity model analyses in cross-sectoral trade
 Prospects for expansion of Greek exports to China
 Section 10: National accounts and balance of payments
 National accounts
 Open economies
 Balance of Payments Accounts
 Section 11: Exchange rates and foreign exchange markets
 Exchange rates and international transactions
 The foreign exchange market
 Demand for foreign currency assets
 Interest rates, expectations and balance
 Section 12: International Monetary Systems and Economic Integration
 International monetary systems
 The European Common Currency
 Financial integration and crisis
 Section 13: Presentation / discussion of works and presentations

4. TEACHING and LEARNING METHODS - EVALUATION

DELIVERY
 		Face-to-face (Lectures)
USE OF INFORMATION AND COMMUNICATIONS TECHNOLOGY
 		Use of ICT for supporting the learning process via the electronic platform e-class in teaching and communication with students, utilization of moodle platform in cases of remote examinations

TEACHING METHODS
Activity Semester Workload
Lectures 39
Autonomous studying 86
Course total (25 hours of workload per credit uni 125
STUDENT PERFORMANCE EVALUATION
1. Formal written examination at the end of the semester or written report preparation (+ oral examination at the end of the semester)

2. The written examination includes:
 Multiple choice questions
 Short answer questions
 Problem solving

5. SUGGESTED BIBLIOGRAPHY

-Suggested bibliography :
 Krugman P., Obstfeld M., Melitz M., 2016. Διεθνής Οικονομική, Θεωρία και Πολιτική, Κριτική.
 Leroy B.A., James O.K., 2006. Διεθνείς Οργανισμοί, Εκδόσεις Gutenberg.
 Αλογοσκούφης Γ., 2013. Διεθνής Οικονομική και Παγκόσμια Οικονομία, Εκδόσεις Gutenberg.
 Guillochon B., Kawecki A., Venet B., 2015. Διεθνής Οικονομική, Διεθνές Εμπόριο και Μακροοικονομία, Εκδόσεις Προπομπός.
-Related academic journals:
 Karkanis D. 2019. International Migration and Export Flows: Evidence from the People’s Republic of China. East Asian Economic Review, Vol. 23, No. 3, pp. 311-329.
 Karkanis D., Fotopoulou M. 2019. Economic Openness, Monetary Integration and Trade Specialization: Evidence from the EA-China Trade. The Estey Journal of International Law and Trade Policy, Vol. 20, No 2, pp. 133-153.
 Karkanis D. 2018. EU-China Trade: Geography and Institutions from 2001 to 2015. Journal of Economic Integration, Vol. 33, No 1, pp. 1158-1175.