156-0316/04 – Foreign Trade Policy (ZOP)
| Gurantor department | Department of Applied Economics | Credits | 3 |
| Subject guarantor | prof. Ing. Lenka Fojtíková, Ph.D. | Subject version guarantor | prof. Ing. Lenka Fojtíková, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Choice-compulsory |
| Year | 1 | Semester | summer |
| | Study language | Czech |
| Year of introduction | 2011/2012 | Year of cancellation | 2020/2021 |
| Intended for the faculties | EKF | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
The foreign trade course introduce individuals to the various aspects of international business and to the analyses of diferent global problems. Moreover, they also learn a lot about globalization and the changing scenario of the international market. The course enables the individuals to start their careers in export and import foreign trade and apply their knowledge in international business development. The individuals will be able to argue and relate disproportions among the countries.
Teaching methods
Lectures
Summary
This is the course of the advanced sequence in Economic Policy in Open Economy which describes the aims, tools, methods and principles of Economic Policy in Open Economy or benefit of free trade and protection.
Compulsory literature:
DIXIT, A., NORMAN, V. Theory of International Trade. London: Cambridge University Press, 1980.
KRUGMAN, P. R. International Economics. Chicago: Irwin, 1996. MIKIĆ, M. International Trade. New York: St. Martin´s Press, 1998.
TREBILCOCK, M. J. a HOWSE, R. The Regulation of International Trade. New York: Routledge, 2005.
Recommended literature:
CARBAUGH, R. J. International Economics. Washington: Thomson South-Western Corporation, 2005.
GREENEWAY, D., WINTERS, L. A., Surveys in International Trade. Oxford, 1994.
Additional study materials
Way of continuous check of knowledge in the course of semester
E-learning
Other requirements
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Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Role of Foreign-Trade Policy in Open Economy
- external monetary versus foreign-trade policy (FTP)
- definitions and principles of FTP
- tools and objectives of FTP
- the role of FTP within other economic policies
- the openness of the economy
2. Theory of Foreign Trade
- liberal versus protectionist FTP
- the role of international institutions in the foreign trade (WTO, IMF, IBRD)
3. External and Internal Balance - Swan Model, Mundell Model
- situation in the CR in comparison to chosen economies
4. Theory of Balance of Payments
- individual approaches
- automatic balancing mechanism of balance of payments
5. Analysis of Balance of Payment Current Account
- situation and development in the CR in comparison to other economies
6. Analysis of Balance of Payment Financial and Other Accounts
- situation and development in the CR in comparison to other economies
- the role of investments in supporting foreign trade
7. Tools of Foreign-Trade Policy
- their division
- criteria for tools selection
8. Contractual Tools of Foreign-Trade Policy
9. Autonomous Tools of Foreign-Trade Policy
10. Role of Export Policy
11. Role of Institutions Influencing Foreign Trade in the CR
- Czech Trade
- CEB
- EGAP etc.
12. Monetary Policy in Open Economy
- the role of Central Bank in foreign trade
- currency devaluation and balance of payments improvement
- Marshall-Lerner Approach
- types of inflation resulting from devaluation
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction