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Status: Required course

Period: Third year, First semester

ECTS credits: 3

Class hours: 30 class hours (30 lectures)

Language: Bulgarian


Prerequisites: completed courses in Macroeconomics, Economic theories and Money, banking and financial markets


Course content

In today's world, national economies are interconnected in a complex set of economic, political and social relations. In this respect, the course consists of two parts, united by the first common theme - Balance of Payments.


In the first part the course addresses issues linked to the so called four freedoms – goods, services, work force and capital. Attention is paid to the systems of trade policy, and the means of carrying it out. Analysis is made of international trade agreements, compensation transactions, customs policy, nontariff barriers and international trade organizations like the WTO. Issues such as international labor migration and foreign direct investment are increasingly becoming an essential element of the economic policy of each country.


The second part of the course deals with issues of the euro currency market, international financial organizations providing loans, Brady bonds, the nature, functions, regulation and forecast of exchange rates, various monetary operations, related risk and protection. Each country is connected to the international currency system and organizations. Issues such as the economic integration and the European monetary system come to the foreground too.


Course aim

The course aim is to introduce the main theoretical principles related to international trade and international financial relations.