Methodological Competence
- illustrate the principles of methods, rules, and postulates employed by international economics as a discipline
- comprehend basic assumptions and their effects on the modeling process of international trade theories
- understand the effects of certain internal and external parameter changes on the employability of different theoretical approaches
- apply the Gravity, the Ricardian, the Heckscher-Ohlin and the Standard Trade Model to explain patterns and volumes in international trade
- apply the Asset, the Monetary, and the Real Exchange Rate approach to the determination and behavior of exchange rates
- constitute a constructive generic framework; that may be broken down in sub-processes or changed in sequences to best capture real economic phenomena
- compare employability of different theoretical approaches for the explanation of underlying economics and compare outcomes
- create a set of criteria to assess different theoretical approaches
- construct a table of different theoretical results when analysing real phenomena depending on the assumptions and explanatory variables used in each theory
- explain the reasoning behind different theoretical approaches and their limitations to explain real world phenomena
- evaluate political actions as an outcome of different theoretical approaches in international economics
