The course book is compiled for the economics students who have basic skills of using English as an additional language of instruction and who have acquired basic economic vocabulary. The aim of the course book is twofold: to study an introductory course in International Economic Relations and the further development of academic professionally oriented bilingualism. These are secured by the exposure to the reading texts, mainly authentic, on specific topics of the course, supported by lectures in English and by mini research assignments designed for small teams followed by oral reports on the results of research.

Учебное пособие предназначено для студентов экономических специальностей, имеющих базовые навыки использования английского языка как дополнительного языка обучения и владеющих базовой экономической терминологией. Цель пособия двойная: это изучение вводной дисциплины «Международные экономические отношения» и дальнейшее развитие академического профессионально ориентированного двуязычия. Этому способствует чтение и обсуждение текстов, главным образом, из аутентичных англоязычных источников, слушание лекций на английском языке, выполнение небольших мини групповых исследований на темы курса в виде кейсов и устные выступления с результатами исследований.

• Introduction
  • Introduction
  • MODULE 1. INTERNATIONAL TRADE IN GOODS AND SERVICES
  • Text 1.1 The Gains from Trade
  • Text 1.2 Arguments for Restricting Trade
  • Text 1.3 Trade and Developing Countries
  • Approach 1. Exporting primaries – exploiting comparative advantage
  • Approach 2. Import-substituting industrialisation (ISI)
  • Approach 3. Exporting manufactures – a possible way forward?
  • Case study 1. The Chinese ‘economic miracle’
  • Lecture 1. Characteristics of National Economies
  • Lecture 2. Trends in World Trade
  • Lecture 3. Government Commercial Policy. Tariff Barriers
  • Key words
  • Lecture 4. Government Commercial Policy. Non-Tariff Barriers
  • MODULE 2. THE WORLD TRADING SYSTEM
  • Text 2.1 The World Trading System
  • Text 2.2 Preferential Trade Arrangements
  • Text 2.3 The European Union
  • Case study 2: The Doha Development Agenda
  • Self-study
  • Case study 3: Features of the single market
  • Lecture 5. The World Trade Organization (WTO)
  • Lecture 6. Regional Trade Agreements
  • MODULE 3. THE BALANCE OF PAYMENTS AND EXCHANGE RATES
  • Text 3.1 Exchange Rates
  • Case Study 4. The Maastricht Treaty and the Road to the Single Currency
  • Self study The euro crisis
  • Self-study The balance of payments of the Russian Federation
  • Lecture 7. The Balance of Payments
  • Lecture 8. Forex Trading and the Role of Central Bank
  • Text 3.2 Deregulation of the Financial Sector
  • Text 3.3 FOREX Trading
  • Lecture 9. Spot Transactions in the FOREX Market
  • Lecture 12. Forward Transactions in the FOREX Market
  • MODULE 4. INTERNATIONAL LENDING
  • Text 4.1 Debt and Developing Countries
  • Text 4.2 Dealing with the Debt
  • Lecture 11. International Banking and the Loan Market
  • Lecture 12 International Syndicated Loan Market
  • Lecture 13. International Debt Crisis and the Paris Club
  • MODULE 5. INTERNATIONAL INVESTMENT
  • Text 5.1 International Finance: Shares and Stock Exchanges
    • Text 5.1 International Finance: Shares and Stock Exchanges
      • Text 5.1 International Finance: Shares and Stock Exchanges
        • Text 5.1 International Finance: Shares and Stock Exchanges
          • 1. If you possess a large amount of money, what are the advantages and disadvantages of the following? Discuss with your partner and draw a conclusion by summarizing in one sentence.
  • Self-study
  • Text 5.2 International Finance: The Uses of Bonds
  • Extra issue 1: The language of financial reports
  • Text 5.3 Derivatives, Futures and Options
  • Self-study
  • Text 5.4 Multinational Corporations and Developing Economies
  • Self-study
  • Self-study
  • Lecture 14. Foreign Portfolio Investment
  • Lecture 15. Foreign Direct Investment
  • Lecture 16. Types of Investment as a Source of Finance for Developing Countries
  • MODULE 6. GLOBAL ISSUES IN ECONOMIC RELATIONS
  • Economics and Ecology
• 1. Do you believe that governments should do more to prevent manufacturers polluting or damaging the environment?
  • Text 6.1 The Economics of Climate Change: A Critical Analysis of the Stern Review
  • Text 6.2 For sale: a licence to pollute
  • Information Technology and Electronic Commerce
  • Text 6.3 The Dangers of Information Technology
  • Text 6.4 Globalisation and the Problem of Instability
    • Interdependence through trade
    • Financial interdependence
    • The need for international policy co-ordination
  • Self-study
  • Lecture 17. Development Assistance and the World Bank
  • Lecture 18. Global Issues: Humanitarian Aid
  • Definitions and key words (1)
  • Key words (1)
  • Definitions and key words (2)
  • Key words (2)
  • Summaries
  • Bibliography