EC315 Notes is a 200 page document with around 10,000 words. This student achieved a 1st class. These notes cover the entire course over the MT and LT.
International Macroeconomics: This section of the course offers an introduction to international macroeconomic theory and develops the main tools for macroeconomic policy analysis. We start by studying the balance of payments and the causes and consequences of global imbalances, followed by an in-depth study of the determination of exchange rates, money, and prices in open economies. We discuss the costs and benefits of different nominal exchange rate regimes and their sustainability, as well as examine the causes and consequences of debt and default, speculative attacks and financial crises.
International Trade: This section of the course offers an introduction to international trade theory and develops the main tools for trade policy analysis. We start by studying the patterns of trade distinguishing between inter-industry and intra-industry trade flows. We then proceed to an in-depth analysis of the causes and the effects of those flows based on the concepts of absolute and comparative advantage, relative factor abundance and relative factor intensity, increasing returns to scale and imperfect competition. Finally we discuss the gains and losses from trade, their distribution among people and firms, and their implications for the debate on trade liberalization vs. protectionism .