Teaching (International Economics)


The exam of 6 December 2022 (reserved for students with the 2021/2022 academic year program) is shifted to 10.30 on the same day and room.

Students are invited to take note of the rules of the exam as presented in the Introductory lecture.

For urgent communications write to m.pugno(at)unicas.it

International Economics – Academic Year 2022/2023

The course (from 19/9/22 to 28/11/22) consists of two parts: INTERNATIONAL TRADE (lectures on Friday 1-3 pm room 1.09 by Prof. P. Esposito) and INTERNATIONAL FINANCE (lectures on Wednesday 10-12 am through GoogleMeet by Prof. M. Pugno). The aim of the first part is to explain the main causes and consequences of international trade. It investigates why nations trade, what they trade, who gains (or not) from this trade, how trade is internationally regulated, and which are the policies for and against trade. The second part of the course first provides the necessary basic notions (such as the balance of payments, exchange rates, the determination of income in an open economy), and then explains the role that international transactions, both real and financial, have in determine the aggregate economic outcomes, as well as the policies that can influence these outcomes. To conclude, the international financial crises and the long-term economic growth of open economies are briefly explained.

The recommended TEXTBOOK is:

Gerber, James, International Economics, seventh edition, global edition, 2018 or 2017, Pearson Education, Edinburgh. https://www.pearson.ch/HigherEducation/Pearson/EAN/9781292214160/International-Economics-Global-Edition, Chapters of the textbook: 3-8 (international trade), 9-12 and 16 (international finance).

Other complementary and essential material has been provided during the lectures. The material for the trade part is uploaded in the webpage of Prof. P. Esposito (https://pieroesposito1.wordpress.com/).

COMPLEMENTARY AND ESSENTIAL MATERIAL for the finance part consists of: (1) the slides of the lecture (uploaded during the course, and to be requested to prof. Pugno); (2) A.P. Thirlwall, Balance of payments constrained growth models, PSL Quarterly Review, vol. 64 n. 259 (2011), 307-351, only Section 5 “The 1979 balance of payments constrained growth model” (downloadable here or here).

The rules of the EXAM are explained in the slides of the Introductory lecture (please, read them carefully).

See the web-page of GOMP at 91990 International economics for other details.

During the course the slides of the lectures of International Economics (Finance) are uploaded here, and remain uploaded for three weeks. Exercises remain uploaded for the entire a.a.: exercises I, exercises II, exercises III, lecture 7, Exercises IV, lecture 8, lecture 9, Exercises V, Exercises VI.

International Economics – Academic Year 2020/2021

Students can choose, on the day of the exam, to take either only one part (trade o finance) or both parts. In the first alternative, the positive result of one part remains valid only for the exams sessions of 2021. In the second alternative, the result is single as average of the two parts, and it cannot be decomposed.

The program is only that of the A.Y. 2020/2021 (prof. Esposito and Pugno).

The program and the material for the exam are the same as the AY 2021/2022 (see above).

Useful exercises with solutions for the exam are here, and here.

The results of the exam of 20 Dec. 2021 are here. The solutions are here. Marks will be registered, if not rejected, not before the the 24 Dec. 2021.

International Economics – Academic Year 2019/2020

The course of International Economics consists of two parts: International trade with lectures on Tuesday 3-5pm (prof. M. Pugno), and International finance with lectures on Monday 3-5pm (prof. F. D’Orlando) during the first semester. The exam is single. For both parts, the main text is: Gerber, James, International Economics, seventh edition, global edition, 2018, Pearson Education, Edinburgh.

In addition, for the first part:

  • The material of the lectures, which is distributed upon request to the professor.
  • Dani Rodrik, New Technologies, Global Value Chains,and the Developing Economies, September 2018, to be downloaded from the url:


Economics (Basic) in italiano.

Economics of Human Capital in italiano.


The thesis is a personal document that must take into account the following sentence of Italian jurisprudence: “the drafting of a degree thesis containing the mere graphic transposition of another paper by a different author with some corrections and the addition of minimal elements of novelty, without any fruit content of personal evaluation or, in any case, of critical evaluation of the source used, constitutes the crime referred to in Article 1 of Law no. 475 of 19 April 1925 “(Judgment 13 April – 12 May 2011, no. 18826).

The thesis, even in the first version, must be sent to the supervisor at least one month before delivery to the secretariat.

“(Judgment 13 April – 12 May 2011, no. 18826).