Globalioji ekonomika (ECO104)


This course is an introduction into the contemporary debate on the changing patterns of global economy and challenges the world is facing. The course deals with three major aspects of the global economy, firstly the trans-national economic flows, such as trade in goods and services, migration, financial transactions and investment.  The problems are discussed before the background of international micro- and macro-economy. The aspects covered are balance of payments dynamics, exchange rate regimes, national income accounting, terms of trade, etc. Secondly the course deals with the downsides of economic globalization such as the underlying reasons for crises and their effects on the economy, poverty and environmental degradation. Thirdly the course looks at the actors in the global economy: international organizations, national governments, non-governmental organizations, multinational corporations and regional integration initiatives. Hereby the motives, interest and interaction of the actors is scrutinized and furthermore the development of the global economic governance system is discussed.

Aims of the course

The Global Economics course aims to equip students with necessary analytical tools for analyzing and critically assessing the current dynamics of global economy and challenges the nation states face in their pursuit of economic welfare.

Learning outcomes

  • Distinguish various conceptualizations and theories of the (economic) globalization phenomenon.
  • Analyze global trade and finance governance structures and assess their policies and role in  a global economy.
  • Examine strategies and techniques of trans-national corporations in a global economy.
  • Determine the key issues and future challenges for the globalized world economy of the 21st century.
  • Identify causes and consequences of change in international labor, trade and financial flows.
  • Recognize the underpinnings of the global financial system.
  • Debate the causes and policy actions surrounding economic crises.
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