ØASØK3000 International Economics Course description

International Economics as a subject is concerned with effects of economic relations among nations. This is particularly relevant for small open economies like Norway. The first part of the course covers international trade theory. Why do nations trade, and what effects does this have on the domestic economy. Next, trade policy is analyzed. Why do some nations want to restrict the volume of trade, and what economic effects does this have on domestic efficiency and income distribution. Finally, the course will cover open economy macroeconomics, in particular stabilization policies under different exchange rate regimes.

1. 30% of the grade based on the academic report (in groups of 2-4 students, 5-10 pages written report with link to code e.g. on github).
2. 70% of the grade based on individual written examination (3 hours).

Both exams must be passed in order to pass the course.

The exam result can be appealed.

No prerequisites.

Knowledge

The student

• can describe the development of trade theory over time, from Smith/Ricardo, via Heckscher-Ohlin to modern trade theory based on imperfect competition
• knows how international trade affects economic growth and resource allocation domestically and internationally
• knows how international trade affects distribution of income
• knows which instruments are used in international trade policy and how these affect welfare
• is familiar with relevant models of economic integration
• is familiar with theories of exchange rate determination
• is familiar with stabilization policies in open economies under various exchange rate regimes

Skills

The student

• can show welfare effects of international trade graphically
• can use algebra to derive changes in distribution of income following international trade
• can show the effects of trade policy instruments graphically
• can use models to describe effects of stabilization policies

Competence

The student

• can reflect critically about current topics in international economic relations

This course provides a broad introduction to Artificial Intelligence (AI), with methodologies and techniques that can be applied to different application domains. The course will balance theoretical approaches and practical tasks. Two broad AI areas will be covered, namely supervised and unsupervised methods. Among those, standard methods for regression, classification and clustering will be covered, e.g. support vector machines, nearest neighbor, decision tree, K-means, agglomerative and hierarchical clustering. An introduction to the usage of artificial neural networks and backpropagation algorithm will be provided.

None

Individual written 4-hour exam will be held at the end of the semester.

A list of reference aids allowed will be published on our website.

The course consists of lectures and seminars on techniques and methods, as well as a project to be carried out in groups of 2 to 4 students. The project will be chosen from a portfolio of available problems, either from industry partners or by the research groups. The students will work in groups and will submit an academic report and give an oral presentation. Lab sessions supporting the assignments will be provided.

3 compulsory assignments done in groups of 2-4 students must be approved in order to be admitted to the final exam.

Ivar Bredesen