Empirical Analysis of International Economy Issues 2400-EM3AE
Introductory classes: Introduction to preparing presentations. Basics of analysing and visualizing data and data-storytelling. Students are divided into groups and choose one member country of the European Union to analyse its situation comparing it to other EU countries, countries from the same region, etc.
1st presentation: Presentation of the collected and filtered information about chosen country. Students should choose the information which allow them to better understand the social and economic development and history of the country, its relations with other European countries and the rest of the world. This includes very different issues, starting with history of the country, its politics, place and role in the European Union, number of international agreements, ending with its involvement in wars and conflicts.
2nd presentation: Social issues. Students start with downloading raw data (e.g. from WDI Database or Eurostat) into Excel files and analyse it. Students should not use ready graphs and plots – instead they should create them as the result of their own analysis. Students should find the most interesting things and create a story about social issues in their chosen country. Data for the second presentation should include:
• population, population growth, population density, regions
• occupational structure (working, unemployed, pensioners, etc.)
• demographic structure (breakdown by sex, age, place of residence, regions)
• other factors such as infrastructure, access to the Internet, etc., which tell us a lot about social situation of residents.
3rd presentation: Analysis of the basic macroeconomic indicators. Students should assess the internal balance of the analysed country and its economic potential and compare it with other country or the group of countries.
• GDP (value, changes, share in the world, share in the EU), economic growth; compared with EU
• GDP per capita
• GDP structure analysis (from the expenditure side, i.e. the division into C, I, G and X, but also by the share of industry, services and agriculture in the creation of GDP)
• other indicators such as: unemployment, inflation, budget deficit, public debt, openness of the economy.
4th presentation: Intensity of globalization processes in selected countries. Students should analyse the openness of the country’s economy, its role in the global economy and evaluate its internal balance.
1) Direct investment:
• UNCTAD: http://unctadstat.unctad.org/ReportFold…/reportFolders.aspx…
NOTE: (1) we analyse inward and outward FDI, (2) access to individual countires in the left column: ‘Individual economies’
Economy and finance -> Balance of payments – international transactions (t_bob) -> European Union direct investments
NOTE: based on Eurostat, we conduct a study of the geographical structure of FDI
• OECD- OECD FDI Regulatory Restrictiveness Index
2) Trade of goods and services
Economy and finance -> Balance of payments -> International trade in services, geographical breakdown
NOTE: compare with trade of goods and with GDP
•http://stats.oecd.org/index.aspx (‘Demography and Population’)
5th presentation: Balance of payments and exchange rates. Students should analyse the data according to the traditional division into the current account balance and the balance of capital turnover. Students should try to assess the type of their selected country and find out how it gets its external balance.
6th presentation: Geographical structure of trade. Students should analyse the trade of selected country in terms of:
• regions (e.g. continents)
• groups of partner countries (developed, developing, trade organizations like EU, NAFTA, etc.)
• main partners (countries, biggest exporters/importers)
Students should present the data in billions of USD and % of shares. They should analyse the changes in trade (% changes but also growth rates) and changes in shares (changes in percentage points).
Students should analyse trade with EU countries – the importance of intra- and extra-EU trade, relative changes, etc.
Students should analyse the main export and import partners of the selected country and changes occurring in the selected period of time. They should analyse the changes in the trade concentration (the share of trade with 5 biggest exporters/importers, how many countries are responsible for 50% of the trade, how it changes, how the trade with groups of countries (developed, developing) changes).
7th presentation: Physical structure of trade. Students should analyse the trade of selected country in terms of product groups and most important products. Students should use WITS Database (http://wits.worldbank.org) where they can find the BEC classification (consumer goods, capital goods, intermediate products, industrial products, agricultural products, primary products). Students should analyse the changes in value and shares of trade (analogically to the previous presentation) comparing the years 2015/2010. Additionally, students should analyse directions of trade (intra- and extra-EU trade).
Those questions should be covered in the presentation:
• How does the country trade? Which products does it export and which products does it import? What has changed in the analysed period?
• Which product groups determine the structure of its trade?
• What is the country like?
8th presentation: RCA – comparative advantages of countries.
9th presentation: IIT – product specialization.
Type of course
Student is able to correctly interpret economic phenomena and is able to analyze the problems of the global economy
Student is able to use basic theoretical knowledge and obtain data in order to conduct independent empirical research on the economy of a selected country
Student has the ability to understand and analyze phenomena on the basis of an independent study based on primary data
Student is able to properly analyze the causes and course of macroeconomic phenomena
SW01, SW02, SW03, SW04, SU01, SU02, SU03, SU04, SU05, SU06, SU07, SK01, SK02, SK03
All the presentations are evaluate during classes and students are able to improve and correct them according to given instructions and comments. Students prepare final presentation (duration about 30 minutes) and present results of their work from the entire semester on the last meeting. The final grade is given based only on the final presentation prepared in Tableau or in PowerPoint. Attendance is compulsory.
• Textbooks on international economics
• World Bank, WTO, IMF, Eurostat reports
Information on level of this course, year of study and semester when the course unit is delivered, types and amount of class hours - can be found in course structure diagrams of apropriate study programmes. This course is related to the following study programmes:
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: