CCLE021 International Macroeconomics for Lawyers
The course will address the challenges of international economics from a macroeconomic perspective. In doing so, it will examine the structure of global markets and the nature of risk and in particular systemic risk. Key areas covered include some of the main theories in macroeconomics and how incentive frameworks influence the management and operation of economic institutions and firms.
The first part of the course introduces the international economics environment. The exchange rates determination in a context of corporate environment is discussed at length. Then it moves to the concept of comparative advantage principle and its applications. The second part of the course introduces the concept of Interest Rates Theory and its relevance to modern monetary policy theory. The course concludes with a discussion about issues related to international portfolio investments and diversification.
The approach will be from a lawyer’s point of view, and the methodology actually used in courts will be discussed. The course will address macroeconomic theory focusing on dealing with the performance, structure, behaviour and decision-making of the economy as a whole, rather than individual markets.
Through the course analysis, students will develop a thorough understanding of the models that influence and eventually determine the interaction among global markets and the various economic agents and entities that are involved in global trade. Specific case studies are used to analyse actual situations and explore different possible solutions using the legal implication of international trade.
Students seeking to pursue an interdisciplinary and international working environment need to develop an understanding of these concepts and this module meets these needs.
- Introduction to International Economics
- Exchange Rates Determination
- Principle of Comparative Advantage
- Principle of Comparative Advantage: Applications
- Foreign Exchange Markets
- Interest Rates Theory
- Interest Rate Parity vs Purchase Power Parity
- International Monetary Systems
- Balance of Payments
- International Portfolio Investments and Diversification
- LLM in Law and Economics