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Giovanni Di Bartolomeo

(PhD Rome Sapienza, MSc Barcelona UFP).





Richmond University on London




Trade slides (Ricardo)

Trade slides (Neo Classical)

Trade slides (HO)


Exchange rate basics

Exchange rate operations

Balance of Payments

Exchange rate in the long run

Automatic adjustments

Macroeconomic policies


International monetary system history


Macroeconomic policies simple






International economics





PART ONE: International trade theory

Lecture 1 – Ricardian theory of trade. Read SB, chap. 2.

Lecture 2 – Neoclassical theory of trade. Read SB, chaps 3.

Lecture 3 – Demand and supply, offer curve, and terms of trade. Read SB, chap. 4.

Lecture 4 – The Heckscher-Ohlin model. Read SB, chap. 5.

Lecture 5 – Trade restrictions: Tariff. Read SB, chap. 8.

Lecture 6 – Trade restrictions: Non Tariff and new protectionism. Read SB, chap. 9.

Lecture 7 – The new theories of trade. Read SB, chap. 6 and Gandolfo handout.

Lecture 8 – Custom unions and free trade areas. Read SB, chap. 10.

Review Class


Deadline for paper assignment.   

Mid-term exam. 


PART TWO: International monetary economics

Lecture 11 – Foreign exchange markets and exchange rates. Read SB, chap. 14.

Lecture 12 – Theories of exchange rate determination. Read SB, chap 15.

Lecture 13 – Balance of payments. Read SB, chap. 13.

Lecture 14 – The monetary approach and the portfolio approach. Read SB, chap. 15.

Lecture 15 – The price adjustment mechanism. Read SB, chap. 16.

Lecture 16 – The income adjustment mechanism. Read SB, chap. 17.

Lecture 17 – The Mundell-Fleming model – basics. Read SB, chap 18.

Lecture 18 – The Mundell-Fleming model – policies. Read SB, chap. 18.

Lecture 19 – Optimal currency areas and Monetary Union. Read SB, chap 20.

Lecture 20 – International monetary system. Read SB, chap. 21.

Review Class      


Final Exam.        




Attendance: Classes meet twice a week and attendance is expected at all classes. Being late or absent without a valid motivation will cause your grade to be lowered. After three unexcused absences you will be withdrawal from the course.

Course Requirements: It is strongly required that students read the book chapters and references suggested for each topic before lectures. This will make possible to realize interactive lectures stimulating discussions and reflections. Please, notice that the book reading is compulsory since not all the issues can be deeply described during the classes, which only have the aim of giving the main guidelines to the students.

Exams: Exams will be held at mid-term and at the end of the term. A compulsory paper on a topic to be decided is also requested. Preliminary discussions with the instructor on the paper argument are recommended. 

Evaluation: The final grade will be based on the mid-term exam (30%), on regular attendance, home-works, and participation (10%), on the research paper (30%), on the final exam (30%).



Salvatore, Dominick [SB], International Economics, MacMillan International Edition (last available edition).

Other materials (journal articles, official documents, etc.) will be distributed during the course.