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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 316-2"
COURSE NAME: "International Economics"
SEMESTER & YEAR:
Spring 2020
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SYLLABUS
INSTRUCTOR:
Lorenzo Ferrari
EMAIL: [email protected]
HOURS:
MW 10:00 AM 11:15 AM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisites: Junior Standing, EC 201, EC 202
OFFICE HOURS:
by appointment
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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.
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SUMMARY OF COURSE CONTENT:
This course provides a comprehensive over view of both international trade and finance. See the course outline for specific topics. The course covers a large amount of material in a short time so students should read in advance and carefully prepare the exam preparation questions so as to focus attention to specific models and/or topics. For every assigned chapter, students are responsible for any vocabulary and definitions as a check in addition to the more comprehensive exam preparation questions.
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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.
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| International Economics: Theory and Policy | Krugman, Obstfeld, Melitz | Pearson | 9780134519579 | | | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Exam 1 | In-class essay exam and problem-solving. | 25% |
| Exam 2 | In-class essay exam and problem-solving. | 25% |
| Exam 3 | In-class essay exam and problem-solving. | 40% |
| Assignment: Economic Discussion | Students will present a single visual power point slide and present a short discussion to the class. Assessment includes the depth of the presentation and preparation of the speaker. | 10% |
-ASSESSMENT CRITERIA:
AWork 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.
BThis 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.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis 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.
FThis 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:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed. The final exam period runs until Friday, June 28th.
Students who miss two classes or less will have an opportunity to drop one low exam and replace its weight with two additional questions to be answered during the 4th (final) exam. Students who arrive after the role call will be counted as absent.
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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.
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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.
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SCHEDULE
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Schedule
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week 1
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jan-20
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CHAPTERS 1,2
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What is IE about? World Trade: An Overview
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jan-22
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CHAPTER 3
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Labor Productivity and Comparative Advantage: The Ricardian Model
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week 2
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jan-27
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CHAPTER 3 (CONT)
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Labor Productivity and Comparative Advantage: The Ricardian Model
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jan-29
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CHAPTER 4
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Specific Factors and Income Distribution
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week 3
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feb-03
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CHAPTER 5
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Resources and Trade: The Heckscher-Olhin Model
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feb-05
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CHAPTER 5 (CONT)
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week 4
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feb-10
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CHAPTER 7
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External Economies of Scale and the International Location of Production
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feb-12
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CHAPTER 9
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The Instruments of Trade Policy
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feb-14
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Review CH (1-9)
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week 5
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feb-17
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CHAPTER 10
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The Political Economy of Trade Policy
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feb-19
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Midterm 1 CH (1-9)
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week 6
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feb-24
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CHAPTER 10 (CONT)
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The Political Economy of Trade Policy
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feb-26
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CHAPTER 11
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Trade Policy in Developing Countries
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week 7
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mar-02
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CHAPTER 12
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Controversies in Trade Policy
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mar-04
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CHAPTER 13
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National Income Accounting and the Balance of Payments
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SPRING BREAK 9-13 MARCH
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week 8
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mar-16
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CHAPTER 14
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Exchange Rates and the Foreign Exchange Market: an Asset Approach
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mar-18
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CHAPTER 14 (CONT)
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Exchange Rates and the Foreign Exchange Market: an Asset Approach
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week 9
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mar-23
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Review CH (10-14)
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mar-25
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CHAPTER 15
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Money, Interest Rates, and Exchange Rates |
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week 10
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mar-30
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CHAPTER 16
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Price Levels and the Exchange Rate in the Long Run |
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apr-01
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Midterm 2 CH (10-14)
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week 11
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apr-06
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CHAPTER 17
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Output and Exchange Rate in the Short Run
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apr-08
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CHAPTER 17
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Output and Exchange Rate in the Short Run
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week 12
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apr-13
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CHAPTER 18
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Fixed Exchange Rates and Foreign Exchange Intervention
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apr-15
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CHAPTER 19
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International Monetary Systems: An Historical Overview
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week 13
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apr-20
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Presentations
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apr-22
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Presentations
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week 14
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apr-27
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CHAPTER 21
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Optimum Currency Areas and the European Experience
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apr-29
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Review
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Final Exam: See University Schedule for date, place and time.
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