Credits: 6

Schedule: 07.09.2015 - 02.10.2015

Teacher in charge (valid 01.08.2018-31.07.2020): 

Professor Fidelis Landy, University of Helsinki

Teaching Period (valid 01.08.2018-31.07.2020): 

Not lectured in 2018-2019.

Not lectured in 2019-2020.

Learning Outcomes (valid 01.08.2018-31.07.2020): 

1. Understanding of international competitiveness in the modern world
2. Understanding of the fundamentals of competitiveness through the classical theories of international trade
3. Understanding of the basic determinants of international capital flows and multinational corporations
4. Familiarity with international trade policy

Content (valid 01.08.2018-31.07.2020): 

In this course we study the international goods and services markets in their interaction with decisions made both by firms acting in those markets and by consumers. The major aim is to understand the birth and expansion of multinational activities.
Another basic purpose is to understand the concept of international competitiveness, its origins and measurement. In this context also issues related to exchange rates are discussed. This includes the treatment of basic parities, purchasing power parity and interest rate parity. Trade policies are also discussed extensively.

Assessment Methods and Criteria (valid 01.08.2018-31.07.2020): 

1. Lectures and exercises 24h
2. Exam (100% of the marking)

Workload (valid 01.08.2018-31.07.2020): 

  • Lecture attendance 24h
  • Preparing for lectures and exam 133h
  • Exam 3h

Study Material (valid 01.08.2018-31.07.2020): 

Appleyard & Field International Economics. 4th Edition. Recommended.

Material presented during the lecture would mainly be covered by this book.


Krugman, P. R. & Obstfeld, M., International Economics: Theory and Policy, 6th Edition, 2003, Addison Wesley. Additional literature.


Krugman (1993): What Do Undergrads Need to Know About Trade? The American Economic Review 83(2): 23–26 (available from JSTOR)


Other material assigned during the course.

Course Homepage (valid 01.08.2018-31.07.2020):

Prerequisites (valid 01.08.2018-31.07.2020): 

Principles of Economics (31A00110)

Grading Scale (valid 01.08.2018-31.07.2020): 

0 - 5

Registration for Courses (valid 01.08.2018-31.07.2020): 

Course and exam via WebOodi.