|
|
JOHN CABOT UNIVERSITY
COURSE CODE: "EC 316-1"
COURSE NAME: "International Economics"
SEMESTER & YEAR:
Spring Semester 2012
|
SYLLABUS
INSTRUCTOR:
Antonelli Alessandro
EMAIL: [email protected]
HOURS:
MW 11:30-12:45
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisites: Junior Standing, EC 201, EC 202
OFFICE HOURS:
11:00-11:30 and by appointment
|
|
COURSE DESCRIPTION:
This course aims to provide students with a wide overview to the main topics in international trade, open-economy macroeconomics and finance. It focuses on the analysis of concepts and methods of international economics and on illustrations with applications drawn from the real world. The study of concepts, theories, historic development and current events in the field is designed to allow students to strengthen their skills in critical thinking, and in assessing risks, threats, opportunities and impacts related to the international and the global economic environment.
|
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 a 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.
• Ability to write and communicate effectively.
|
TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| International Economics (9th international edition, though 8th regular edition is fine) | Paul Krugman, Maurice Obstfeld, Marc Melitz | Pearson Higher Education | 9780273754206 | | Textbook: 9th international edition, though 8th regular edition is fine | | | |
|
REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments |
| Handouts and additional abstracts will be provided during the course | ... | | ... | | |
|
GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| a) Exam 1; b) Exam 2 c) Exam 3; d) Class participation and presentations | <strong>Three exams, 85%</strong> as follows: first exam 22.5%; second exam 22.5%; third exam 40%. These exams 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. <br />
<strong>Class participation and cases presentation (15%)</strong>: the class participation grade will reflect the student’s preparation of the assigned material, her or his ability to follow the flow of class discussion, and her or his interventions during class. Class discussion will focus on mini-cases and exercises that will be assigned from time to time by the professor. Students should be prepared to offer an oral summary of the written assignments and the key facts to the class, as well as to present their views regarding the possible questions. Students will also be required to prepare written summaries of their analyses. Repeated unjustified absences will negatively affect the class participation grade. <br /> | a) 22.5%; b) 22.5%; c) 40%; d) 15% |
-ASSESSMENT CRITERIA:
At the end of the term, students with 95-100 points will receive an A; 90-94 an A-. An “A” grade is reserved for students who consistently submit outstanding work and
have shown to fully understand the concepts covered, the various quantitative tools presented and their applications.
Students who receive 87-89 points will receive a B+; 84-86 a B; 80-83 a B-. A “B” grade is reserved for students who show a highly competent level of performance, and
whose work does not suffer from any major errors or omissions.
Students who receive 77-79 points will receive a C+; 74-76 a C; 70-73 a C-. A “C” grade is reserved for students who show an acceptable level of performance, with
answers that are clear but limited, with some minor omissions and inaccuracies but no major errors.
Students who receive 67-69 points will receive a D+; 64-66 a D; 60-63 a D-. A “D” grade is reserved to below average students whose work will typically lack a coherent
grasp of the problems and issues raised in the question, omit important information, include irrelevant points and generally be too brief or even incomplete.
Students who receive fewer than 60 points will fail.
-ATTENDANCE REQUIREMENTS:
The University attendance policy is described in the catalogue. Persistent absence or tardiness usually precludes satisfactory performance in the course, and jeopardizes that part of the grade that is based on class presentation and participation. Students are expected to arrive to class on time; students are responsible for all material covered by the syllabus and/or discussed in class, whether or not they are actually present in class. Please refer to the university catalog for the attendance and absence policy.
|
|
|
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
1/16/2012 Chapter 1: What Is International Economics About?
1/18/2012 Chapter 2: World Trade: An Overview
1/23/2012 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?
1/25/2012 Chapter 4 Specific Factors and Income Distribution
Case Study: Wage Convergence in the Age of Mass Migration
Case Study: Foreign Workers: The Story of the GCC
1/30/2012 Chapter 5: Resources and Trade: The Heckscher-Ohlin Model
Case Study: North-South Trade and Income Inequality
2/1/2012 Chapter 6: The Standard Trade Model
Case Study: Has the Growth of Newly Industrialized Countries Hurt Advanced Nations?
2/3/2012 Make up day for Monday, April 9
Chapter 7: External Economies of Scale
Box: Holding the World Together
Box: Tinseltown Economics
2/6/2012 Chapter 8: Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises
Case Study: Antidumping as Protectionism
Case Study: Patterns of Foreign Direct Investment Flows Around the World
2/8/2012 Program review Exam 1
2/13/2012 Exam 1 (Ch 1, 2, 3, 4, 5, 6, 7, 8)
PART II: INTERNATIONAL TRADE POLICY
2/15/2012 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
2/20/2012 Chapter 10: The Political Economy of Trade Policy
Case Study: The Gains from 1992
Box: Politicians for Sale: Evidence from the 1990s
Box: Settling a Dispute-and Creating One
Case Study: The Salmon War
Box: Do Agricultural Subsidies Hurt the Third World?
Case Study: Trade Diversion in South America
2/22/2012 Chapter 11: Trade Policy in Developing Countries
Box: India's Boom
Case Study: Mexico Abandons Import-Substituting Industrialization
2/27/2012 Chapter 12: Controversies in Trade Policy
Box: A Warning from Intel's Founder
Case Study: Bare Feet, Hot Metal, and Globalization
Case Study: The Shipbreakers of Alang
PART III: EXCHANGE RATES AND OPEN ECONOMY MACROECONOMICS
2/29/2012 Chapter 13: National Income Accounting and the Balance of Payments
Case Study: The Assets and Liabilities of World's Biggest Debtor
Program review Exam 2
3/5/2012 Exam 2 (Ch 9, 10, 11, 12, 13)
3/7/2012 Chapter 14: Exchange Rates and the Foreign Exchange Market
3/12/2012 Chapter 15: Money, Interest Rates, and Exchange Rates
3/14/2012 Chapter 16: Price Levels and the Exchange Rate in the Long Run
Box: Some Meaty Evidence on the Law of One Price
Case Study: Why Price Levels Are Lower in Poorer Countries
3/16/2012 Make up day for Wednesday, April 25
Chapter 17: Output and the Exchange Rate in the Short Run
3/26/2012 Chapter 18: Fixed Exchange Rates and Foreign Exchange Intervention
Case Study: The Demand for International Reserves
PART IV: INTERNATIONAL MACROECONOMIC POLICY
3/28/2012 Chapter 19: International Monetary Systems: An Historical Overview
Case Study: Tranformation and Crisis in the World Economy
4/2/2012 Chapter 20: Optimum Currency Areas and the European Experience
Box: The Euro
Case Study: Is Europe an Optimum Currency Area?
4/4/2012 Chapter 21: Financial Globalization: Opportunity and Crisis Zone Debt Crisis of 2010
Case Study: Moral Hazard
Box: The Simple Algebra of Moral Hazard
Case Study: When the World Almost Ended: Two Episodes of Market Turmoil
4/11/2012 Chapter 22: Developing Countries: Growth, Crisis and Reform
Box: Why Have Developing Countries Accumulated Such High Levels of International Reserves
Box: What Did Asia Do Right?
Case Study: China’s Undervalued Currency
4/16/2012 Case studies and class discussion:
* World economy, imbalances and debt
* World economic outlook, main short-term trends (IMF data mapper and other sources)
4/18/2012 Case studies and class discussion
* World economic outlook, main long-term trends
4/23/2012 Last day of class, program review Exam 3
Exam 3 (Ch 14, 15, 16, 17, 18, 19, 20, 21, 22): See university's schedule for date and time of this final examination.
|
|
|