There are no specific prerequisites for this subject. However, some of the knowledge obtained in the first course about basic theoretical aspects of Microeconomics and Macroeconomics should be reviewed for a more suitable follow up of the present subject. Furthermore, it would be useful to remember some items learned about World Economy.

International Trade and Financial Market considers an advanced analisys of International Economics. The subject looks into the main items about Trade and Financial Globalization. Special attention will be paid to recent changes in International Trade and new competitive strategies of nations, in particular, global value chains and offshoring strategies. In addition, regarding financial topics, we will focus on the main international macroeconomic relations, such as inflation, interest rates and exchange rates, the main theoretical determinants of international crisis and its real characteristics in recent years (Great Recession in US and Sovereign debt crisis of Eurozone).

Course competences
Code	Description
E01	Know the theoretical performance and the implications of the economic system in the production and financial fields, nationally and internationally
E02	Understand the role of institutions and economic agents in economic and social activities.
E08	Know the different types of government intervention, as well as the fundamental premises of welfare economics.
E11	Diagnosis and assessment skills to conduct structural and cyclical reports, as well as economic forecast summaries on the reality of the economy in Spain, the European Union and in any of the product sectors and factor markets. To do so, it will be necessary to understand and use common handbooks, as well as articles and, in general, leading edge bibliography in the core subjects of the curriculum.
E12	Obtain theoretical and practical knowledge on international economic development, international trade, and international financial systems.
E13	Know and understand the process of European integration, the main aspects of its operation and economic relations between the countries of the European Union.
E14	Understand how a market economy works, determine output levels, employment and the general price level as well as equilibrium price in different market structures.
G01	Possession of the skills needed for continuous, self-led, independent learning, which will allow students to develop the learning abilities needed to undertake further study with a high degree of independence.
G02	Ability to understand the ethical responsibility and the code of ethics of professionals working in the field of economics. To know, respect and contribute to the fulfillment of the commitments related to gender equality, non-discrimination, human rights legislation and development cooperation.
G03	Develop oral and written communication skills in order to prepare reports, research projects and business projects and defend them before any commission or group of professionals (specialised or non-specialised) in more than one language, by collecting relevant evidence and interpreting it appropriately so as to reach conclusions.
G04	Ability for the use and development of information and communication technology in the development of professional activity.
G05	Capacity for teamwork, to lead, direct, plan and supervise multidisciplinary and multicultural teams in both national and international environments.

Course learning outcomes
Description
Know the performance and regulation of product and factor mark ets at national and international level and the drivers for the generation of wealth and a suitable distribution of income.
Enable student for autonomous work and learning, as well as for personal initiative
Train the student to listen to and defend arguments orally or in writing
Train the student to search for information in order to analyze it, interpret is meaning, synthesize it and communicate it to others.
To Know different basic concepts of Finance, focusing on its interpretation to extract relevant information for the company
Know the main macroeconomic variables and the economic policy instruments.
Additional outcomes
Not established.

• Unit 1: INTERNATIONAL TRADE, COMPETITIVENESS AND INTERNATIONAL PRICES
  • Unit 1.1: Introduction
  • Unit 1.2: Competitiveness and trade patterns (I): wages and productivity
  • Unit 1.3: Competitiveness and trade patterns (II): endowment and factor intensity
  • Unit 1.4: International prices: economic and geopolitical determinants
• Unit 2: INTRA-SECTORAL TRADE, INTERNATIONAL FACTORS MOBILITY AND OFFSHORING
  • Unit 2.1: New flows and strategies of international trade
  • Unit 2.2: Capital international flows: Foreing Direct Investments
  • Unit 2.3: Offshoring and Global Value Chains
  • Unit 2.4: Present drivers and competitivity models en Advanced Countries and Emerging Market Economies
• Unit 3: INTERNATIONAL TRADE AND DISTRIBUTIVE EFFECTS
  • Unit 3.1: Short and Long term effects of effects of international trade
  • Unit 3.2: Globalization impact on Advanced, Emerging and Developing Countries
  • Unit 3.3: Globalization and technological change: labour and wages effects
• Unit 4: INTERNATIONAL MACROECONOMIC INTERDEPENDENCY
  • Unit 4.1: Real and Financial markets in an open economy
  • Unit 4.2: Current Account Balance and financial indebtedness
  • Unit 4.3: International Economic Transmission Channels and external shocks
  • Unit 4.4: International Economic Analysis
• Unit 5: EXCHANGE RATE DETERMINANTS AND INSTABILITY
  • Unit 5.1: Theoretical drivers of exchange rates in the long and short term
  • Unit 5.2: Commitment to exchange stability, instability factors and risk premium
  • Unit 5.3: Country Risk Premium: measure and determinants
  • Unit 5.4: Theoretical models of Currency and Financial Crisis
• Unit 6: INTERNATIONAL FINANCIAL CRISIS
  • Unit 6.1: Financial globalization and financial markets: implications for macroeconomic governance
  • Unit 6.2: Recent Financial Crisis: The Great Recession and the Debt Crisis of Euro Area
  • Unit 6.3: Current International Economic Situation Analysis

Training Activity	Methodology	Related Competences (only degrees before RD 822/2021)	ECTS	Hours	As	Com	R	Description *
Class Attendance (theory) [ON-SITE]	Lectures	E01 E02 E08 E11 E12 E13 E14	1.33	33.25	N	N	N
Class Attendance (practical) [ON-SITE]	Combination of methods	E11 E12	0.67	16.75	Y	N	N
Other on-site activities [ON-SITE]	Combination of methods	E01 E11 G01 G02	0.15	3.75	Y	N	N
Analysis of articles and reviews [OFF-SITE]	Reading and Analysis of Reviews and Articles	E01 E11 G01 G02	1	25	Y	N	N
Practicum and practical activities report writing or preparation [OFF-SITE]	Problem solving and exercises	E12 G01 G02 G03 G04	1	25	Y	N	N
Other off-site activity [OFF-SITE]	Combination of methods	E12 E13 E14	0.3	7.5	Y	N	N
Study and Exam Preparation [OFF-SITE]	Self-study	E12 E13 E14	1.4	35	Y	N	N
Final test [ON-SITE]	Assessment tests	E01 E11 E12 E13 E14 G01 G02 G03 G04	0.15	3.75	Y	Y	Y
Total:			6	150
Total credits of in-class work: 2.3			Total class time hours: 57.5
Total credits of out of class work: 3.7			Total hours of out of class work: 92.5

As: Assessable training activity
Com: Training activity of compulsory overcoming
R: Rescheduling training activity

	Grading System
Evaluation System	Face-to-Face	Self-Study Student	Description
Final test	70.00%	0.00%	Minimum of 5 points out of 10
Assessment of problem solving and/or case studies	30.00%	0.00%	Minimum of 1,5 out of 3.
Total:	100.00%	0.00%

Not related to the syllabus/contents
Hours	hours
Class Attendance (theory) [PRESENCIAL][Lectures]	33.25
Class Attendance (practical) [PRESENCIAL][Combination of methods]	16.75
Other on-site activities [PRESENCIAL][Combination of methods]	3.75
Analysis of articles and reviews [AUTÓNOMA][Reading and Analysis of Reviews and Articles]	25
Practicum and practical activities report writing or preparation [AUTÓNOMA][Problem solving and exercises]	25
Other off-site activity [AUTÓNOMA][Combination of methods]	7.5
Study and Exam Preparation [AUTÓNOMA][Self-study]	35
Final test [PRESENCIAL][Assessment tests]	3.75

Unit 1 (de 6): INTERNATIONAL TRADE, COMPETITIVENESS AND INTERNATIONAL PRICES
Teaching period: Weeks 1 -2

Unit 2 (de 6): INTRA-SECTORAL TRADE, INTERNATIONAL FACTORS MOBILITY AND OFFSHORING
Teaching period: Weeks 3-5

Unit 3 (de 6): INTERNATIONAL TRADE AND DISTRIBUTIVE EFFECTS
Teaching period: Weeks 6-7

Unit 4 (de 6): INTERNATIONAL MACROECONOMIC INTERDEPENDENCY
Teaching period: Weeks 8-10

Unit 5 (de 6): EXCHANGE RATE DETERMINANTS AND INSTABILITY
Teaching period: Weeks 11-12

Unit 6 (de 6): INTERNATIONAL FINANCIAL CRISIS
Teaching period: Weeks 13-14

Global activity
Activities	hours

Author(s)	Title	Book/Journal	Citv	Publishing house	ISBN	Year	Description	Link	Catálogo biblioteca
FEENSTRA, R.C.; TAYLOR, A.M.	MACROECONOMÍA INTERNACIONAL		Barcelona	Reverte	9788429126495	2011
FEENSTRA, R.C.; TAYLOR, A.M.	COMERCIO INTERNACIONAL		Barcelona	Reverte	9788429126488	2011
KRUGMAN, P.R.,OBSFELT y MELITZ, M.J.	ECONOMÍA INTERNACIONAL: TEORÍA Y POLÍTICA		Madrid	Pearson Education	9788490352960	2016