|
|
JOHN CABOT UNIVERSITY
COURSE CODE: "EC 316-1"
COURSE NAME: "International Economics"
SEMESTER & YEAR:
Fall 2019
|
SYLLABUS
INSTRUCTOR:
Alessandro Antonelli
EMAIL: [email protected]
HOURS:
MW 11:30-12:45 PM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisites: Junior Standing, EC 201, EC 202
OFFICE HOURS:
By appointment
|
|
COURSE DESCRIPTION:
An introduction to international trade and finance. Analysis of the causes and consequences of international trade and investment. Major topics include international trade theory, international trade policy, exchange rates, open-economy macroeconomics, and international macroeconomic policy.
|
SUMMARY OF COURSE CONTENT:
- International Trade Theory.
- International Trade Policy.
- Exchange Rates and Open-Economy Macroeconomics.
- International Macroeconomic Policy.
- World Economic Outlook.
|
LEARNING OUTCOMES:
- Introduce students to an analytical framework that can be used for understanding current events in the field of international economics.
- Learn about sources of information related to the global economy.
- Ability to distinguish good economic arguments for international trade and international macroeconomic policy from those based on vested interests, narrow nationalism or ideology.
- Develop an awareness of the distributional consequences of globalization and economic policy and systemically apply a cost benefit analysis that is inclusive as well as identifies areas of uncertainty.
- Develop skills in the critical analysis and presentation of these arguments through careful study and through active class participation.
|
TEXTBOOK:
Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
International Economics | Krugman, Obstfeld, Melitz | Pearson Series in Economics | 0000133423646 (Last or latest editions) | | | | | |
|
REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
|
GRADING POLICY
-ASSESSMENT METHODS:
Assignment | Guidelines | Weight |
Exam 1, Exam 2, Class Exercises, Class Participation (+ class presentation, no grade) | The two exams (40% + 42.5%) will consist of essay-type questions, graphic analysis, as well as some problems that require quantitative analysis, in which the student is asked to explain and/or solve with accuracy and clarity issues of a particular topic covered by the syllabus. EXERCISES - Class exercises will be assigned by the professor (overall weight: 7.5%). CLASS PARTICIPATION - The class participation grade (10%) will reflect the students care in attending actively the class. Unjustified absences and unauthorized use of computers will negatively affect the class participation grade. PRESENTATION (no grade assigned) - Students should be prepared to offer an effective relatively short class presentation on Country Risk, assigned by the professor. | 40% + 42.5% + 7.5% + 10% |
| | |
| | |
| | |
-ASSESSMENT CRITERIA:
A Work of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course. B This is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments. C This is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings. D This level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail. F This work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
-ATTENDANCE REQUIREMENTS:
The University attendance policy is described in the catalogue. Persistent absence or tardiness usually precludes satisfactory performance in the course. Students are expected to arrive to class on time and are responsible for all material covered by the syllabus and/or discussed in class, whether or not they are actually present in class.
|
|
ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
|
STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
|
|
SCHEDULE
|
|
PART I, INTERNATIONAL TRADE THEORY
Chapter 1: A) What Is International Economics About?
B) National Income Accounting and the Balance of Payments: An overview
C) Exchange Rates and the Foreign Exchange Market: An overview
Chapter 2: World Trade: An Overview
Chapter 3: Labor Productivity and Comparative Advantage: The Ricardian Model
Boxes: 1) The Case of Babe Ruth; 2) The Losses from Nontrade; 3) Do Wages Reflect Productivity
Chapter 4/5: Specific Factors and Income Distribution
Case Study: Wage Convergence in the Age of Mass Migration
Case Study: Foreign Workers: The Story of the GCC
Chapter 7: External Economies of Scale
Box: Holding the World Together
Box: Tinseltown Economics
Chapter 8: Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises
Case Study: Antidumping as Protectionism
Review of part I
Wednesday October 9, Exercises, Part I (compulsory, 7.5% weight)
PART II, INTERNATIONAL TRADE POLICY
Chapter 9: The Instruments of Trade Policy
Case Study: Europe's Common Agricultural Policy
Case Study: An Import Quota in Practice: US Sugar
Chapter 10: The Political Economy of Trade Policy
Case Study: The Gains from 1992
Box: Politicians for Sale: Evidence from the 1990s
Chapter 11: Trade Policy in Developing Countries
Box: India's Boom
Case Study: Mexico Abandons Import-Substituting Industrialization
Chapter 12: Controversies in Trade Policy
Case Study: Bare Feet, Hot Metal, and Globalization
Case Study: The Shipbreakers of Alang
Program review
Wednesday October 23, Exam 1, Part I and Part II (Ch 1, 2, 3, 4, 5, 7, 8, 9, 10, 11; 40% weight)
PART III EXCHANGE RATES AND OPEN ECONOMY MACROECONOMICS
Chapter 13: National Income Accounting and the Balance of Payments
Chapter 14: Exchange Rates and the Foreign Exchange Market
Chapter 15: Money, Interest Rates, and Exchange Rates
Chapter 16: Price Levels and the Exchange Rate in the Long Run
Chapter 17: Output and the Exchange Rate in the Short Run
Chapter 18: Fixed Exchange Rates and Foreign Exchange Intervention
PART IV, INTERNATIONAL MACROECONOMIC POLICY
Chapter 19: International Monetary Systems: An Historical Overview
Case Study: Transformation and Crisis in the World Economy
Chapter 20: Optimum Currency Areas and the European Experience
Box: The Euro
Case Study: Is Europe an Optimum Currency Area?
Chapter 21: Financial Globalization: Business cycles, Opportunity and Crisis
Case Study: Moral Hazard
Box: The Simple Algebra of Moral Hazard
Chapter 22: Developing Countries: Growth, Crisis and Reform
Box: What Did Asia Do Right?
Case Study: East Asia: Success and Crisis
Case Study: The Lost Decade of Latin America Growth
Case Study: Financial Crisis: Mexico 1994-1995
Case Study: China’s Undervalued Currency
World Economic Outlook
Program review
Exam 2, Final, Part III and Part IV (Ch 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22; 40% weight), see JCU final exams schedule for date and time.
|
|