Base Knowledge
Essential Knowledge of Microeconomics:
Supply and demand: How markets work, equilibrium and elasticities.
Market structures: Differences between perfect competition, monopoly and oligopoly.
Consumer and producer theory: Utility, costs (fixed, variable and marginal) and profit maximisation.
Essential Knowledge of Macroeconomics:
Macroeconomic aggregates: Concept and composition of Gross Domestic Product (GDP), inflation and unemployment.
Economic policies: Objectives and instruments of monetary policy (interest rates, money supply) and fiscal policy (taxes, public expenditure).
Financial system: Basic role of banks and financial markets.
Teaching Methodologies
1. Theoretical and Practical Classes
• Objective: To understand the fundamental concepts and theoretical models of the global economy, trade and trade policies.
• Strategy: Use of presentations covering the key concepts, accompanied by examples based on real data from the global economy.
2. Applied Case Studies
• Objective: To develop critical analysis and the ability to contextualise historical and current events.
• Strategy: Analyse the development of the global economy and understand its evolution in relation to the most significant events.
3. Group Discussions and Forums
• Objective: To encourage debate and the sharing of perspectives on controversial and current issues.
• Strategy: Apply active learning methodologies, such as moderated debates and collaborative learning.
4. Collaborative Work and Projects
• Objective: To foster teamwork, strategic thinking and a global outlook.
• Strategy: Development of projects on relevant contemporary topics. These projects constitute the central element of the assessment.
5. Continuous Assessment and Feedback
• Objective: To consolidate the learning process and promote continuous improvement.
Learning Results
1. Understanding international economics
Skills: Critical analysis, historical contextualization, and interpretation of economic indicators.
2. Analysing trade policies and their impacts
Skills: Analytical reasoning, strategic thinking, and evaluation of economic policies.
3. Applying international trade theories: Understand and use classical and contemporary models
Skills: Theoretical modeling, quantitative analysis, and solving economic problems.
4. Evaluating mobility and international investment: Examine the effects of labor mobility, foreign direct investment, and global business
models
Skills: Decision-making, scenario analysis, and global vision.
5. Discussing current challenges in international trade: Explore topics such as the digital economy, circular economy, and business ethics, relating them to economic crises and resilience
Skills: Interdisciplinary thinking, sustainability, and professional ethics.
Program
1. Introduction
1.1 Evolution of the global economy and globalization
1.2 Geopolitical tensions in the international economy
1.3 International trade performance indicators
2. Trade Policy
2.1 Trade Agreements and International Organizations
2.2 Trade policy instruments
2.3 Impacts of trade policy on well-being
2.4 Controversies: protectionism, technology, labor standards, and sustainability
3. International Trade Theories
3.1 Ricardian Model
3.2 Heckscher-Ohlin Model
3.3 Contemporary Theories
4. Mobility and International Investments
4.1 International labor mobility
4.2 Foreign direct investment
4.3 The sharing economy and global business models
5. Current Challenges
5.1 Digital Economy and E-Commerce
5.2 Circular Economy and International Trade
5.3 Economic Crises and Resilience in International Trade
5.4 Ethics in International Business
Curricular Unit Teachers
Maria João Pinto CardosoGrading Methods
Continuous Assessment System (100%)
Single Individual Test (30%)
Date: Class 21.
Content: Units 1, 2, 3 and 4, up to the sharing economy.
Format: Multiple-choice questions, short-answer questions and one problem.
Group Project (70%)
Work plan (10%): Submission in Class 10.
Oral presentation (30%): Classes 28 and 29.
Final written report (30%): Submission in Class 30.
The presentation mark includes: structure, clarity, command of the topic and answers to questions.
Condition to be approved:
Minimum final mark of 10 out of 20.
Submission of all assessment components is compulsory.
Rationale of the plan:
The single test (30%) takes place in Class 21, after Units 1 to 4 have been taught, allowing the second half of the semester to focus on current challenges (Unit 5) and on the development and presentation of the group project.
The group project (70%) is the central component, assessed as a process through the work plan, presentation and final report.
Class 27 is a critical pre-presentation session for final adjustments.
Classes 28 and 29 are dedicated exclusively to the final presentations, with adequate time for all groups.
Class 30 is used for synthesis, submission of the final report and course closure.
Internship(s)
NAO
Bibliography
Reference Textbooks
Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2023). International Economics: Theory and Policy (12th ed.). Pearson.
Relevant Scientific Papers
Melitz, M. J., & Redding, S. J. (2021). “Trade and Innovation”. Handbook of International Economics, 6, 1-86.
Antràs, P. (2020). “De-Globalisation? Global Value Chains in the Post-COVID-19 Age”. NBER Working Paper No. 28115.
Autor, D., Dorn, D., & Hanson, G. H. (2021). “On the Persistence of the China Shock”. Brookings Papers on Economic Activity, 2021(2), 1-54.
Gopinath, G. (2022). “The International Price System”. Journal of Economic Literature, 60(2), 379-435.
Costinot, A., & Rodríguez-Clare, A. (2023). “The US-China Trade War: An Overview”. Annual Review of Economics, 15, 387-415.
International Organisations Reports
WTO. (2023). World Trade Report 2023: Re-globalization for a secure, inclusive and sustainable future.
UNCTAD. (2023). World Investment Report 2023: Investing in sustainable energy for all.
IMF. (2023). World Economic Outlook: Navigating Global Divergences.
Current Challenges
Baldwin, R. (2022). The Globotics Upheaval: Globalization, Robotics, and the Future of Work. Oxford University Press.
Rodrik, D. (2022). Straight Talk on Trade: Ideas for a Sane World Economy (2nd ed.). Princeton University Press.
Data Sources
WTO Data Portal, UNCTADstat, Eurostat, World Bank Open Data.
Portuguese Textbooks and Context
Krugman, P., Obstfeld, M., & Melitz, M. (2018). Economia Internacional: Teoria e Política (10.ª ed. em português). Pearson.
Marques, A., & Sousa, L. (2022). Economia e Negócios Internacionais: Teoria e Casos Práticos. Edições Sílabo.
Portuguese Studies and Papers
Campos, N. F., & Tavares, S. (2022). “Integração económica e crescimento: lições da União Europeia”. Revista de Economia Mundial, 45(2), 112-130.
Silva, P., & Ribeiro, A. (2021). “O impacto do comércio internacional nas desigualdades regionais em Portugal”. Análise Social, 56(3), 540-562.
Banco de Portugal. (2023). “A posição externa de Portugal: evolução recente e determinantes”. Boletim Económico – artigo de estudo regular.
Portuguese Reports and Data
AICEP. (2023). Portugal: Exportação e Investimento – Relatório Anual.
INE. (2023). Estatísticas do Comércio Internacional.
Fundação Francisco Manuel dos Santos. (2023). Retrato de Portugal na Europa – chapter “Comércio Internacional”.
Data Sources
INE, Banco de Portugal – Balance of Payments – Eurostat – Portuguese version.
Suggested Use
Theoretical Foundation: Krugman – English or Portuguese version – plus key articles, particularly Melitz & Redding, 2021.
Policy Analysis and Current Affairs: WTO/UNCTAD reports in English, plus analytical articles such as Antràs, 2020, and Costinot & Rodríguez-Clare, 2023.
Portuguese and Lusophone Context: Marques & Sousa, 2022, plus reports from Banco de Portugal and AICEP, and articles in national journals.
Data for Assignments: International sources – WTO Data – and national sources – INE – used in parallel.
Specific Topics, such as the China Shock and the Future of Work: Specialised articles, such as Autor et al., 2021, and synthesis works, such as Baldwin, 2022.
2022.