Students deepen their knowledge in International Economics (finance), and they become familiar with Development Economics.

Defining and measuring development
Population growth and economic development
Urbanisation and rural migration, the role of cities
International trade and development strategy
Balance of payments, debt, financial crises, and stabilization
Foreign finance, investment, and aid

Project counseling and contact lessons. Class-based learning, and team project, assignments, and independent work. Examination.
If the student has obtained the relevant knowledge and skills elsewhere, for example at work, s/he can demonstrate the knowledge and skills through the RPL process.

Krugman, P., Obstfeld, M. & Melitz, M. 2019. International Economics. Global ed., 11e. Pearson. Selected chapters.
Todaro, M.P. & Smith, S.C. 2020. Economic Development. (13th ed.). Pearson. Selected chapters.
Lecture notes, articles, …

Low-income economies will in the future be countries where markets grow substantially. What are the challenges in funding and finance in these countries? How do these economies differ in relation to more advanced economies? What are the implications of these differences for international trade and finance? Attend the course, and get a good insight into these topics.

The student has successfully completed Principles of Economics (Yritykset, kuluttajat ja yhteiskunta), or equivalent.

When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed.

• can define economic development and use various methods how to measure development
• can pinpoint the relationship and difference between the concepts of income, growth, happiness and development
• understands news related to international development economics
• knows where to look for economic and financial information

• is familiar with basic indicators of development, and knows how countries are categorized and compared
• is aware of how countries’ historical experiences have affected their development progress
• is familiar with development planning
• can analyze government failure and the preference for markets over planning
• can satisfactorily link international trade to development topics
• understands the meaning of financial system as well as of macroeconomic policies for development

• can independently analyze potential opportunities in the developing country environment for the firm
• knows some of the central economic theories on information asymmetry, contracts, and risk bearing
• is able to explain several central theories of development, and can identify practical situations where these theories apply
• can independently analyze differences between informal finance (e.g. microfinance) and formal financial systems