Course Syllabus

JOHN CABOT UNIVERSITY

COURSE CODE: "EC 316-2"
COURSE NAME: "International Economics"
SEMESTER & YEAR: Fall 2023

SYLLABUS

INSTRUCTOR: Alessandro Antonelli
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

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: Theory and Policy	KRUGMAN, OBSTFELD, MELITZ	Pearson	Last or previous editions

REQUIRED RESERVED READING:

NONE

RECOMMENDED RESERVED READING:

NONE

GRADING POLICY
-ASSESSMENT METHODS:

Assignment	Guidelines	Weight
FIRST EXAM; FINAL EXAM; CLASS PARTICIPATION GRADE, INCLUDING PRESENTATIONS/RESEARCHES	The TWO EXAMS (35% + 40%) consist of quizzes/multiple-choice questions and 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. The CLASS PARTICIPATION grade (25%) will reflect: 1) Students' attendance and their level of appropriate active involvement in class discussions (grade: up to a maximum of 12.5%; unjustified absences and unauthorized use of computers will negatively affect the class participation grade. 2) The quality of class presentations or researches assigned by the professor (grade: up to a maximum of 12.5% for excellent presentations; up to a maximum of 10% for very good researches by students who do not choose the option to present in class).	35% + 40% + 25% (12.5% + 12.5%, see guidelines)

-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: What Is International Economics About?
Chapter 2: World Trade: An Overview
Chapter 3: Labor Productivity and Comparative Advantage: The Ricardian Model
Chapter 4/5: Specific Factors and Income Distribution
Chapter 7: External Economies of Scale
Chapter 8: Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises

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
Case Study: A Voluntary Export Restraint in Practice: Japanese Autos

Chapter 10: The Political Economy of Trade Policy
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

Exam 1, October 25, Wednesday, Part I and Part II (Ch 1, 2, 3, 4, 5, 7, 8, 9, 10, 11; 35% 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
Chapter 20: Optimum Currency Areas and the European Experience
Case Study: Is Europe an Optimum Currency Area?
Chapter 21: Financial Globalization: Business cycles, Opportunity and Crisis
Chapter 22: Developing Countries: Growth, Crisis and Reform
Box: What Did Asia Do Right?
Case Study: The Lost Decade of Latin America Growth
Case Study: Financial Crisis: Mexico 1994-1995

World Economic Outlook; Macroeconomic forecasting

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.