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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 316-1"
COURSE NAME: "International Economics"
SEMESTER & YEAR:
Fall Semester 2012
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SYLLABUS
INSTRUCTOR:
Costagli Simona
EMAIL: [email protected]
HOURS:
MW 18:00-19:15
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisites: Junior Standing, EC 201, EC 202
OFFICE HOURS:
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COURSE DESCRIPTION:
The purposes of this course are:
1) to present real world policy problems within a coherent theoretical framework;
2) to present an analysis of how the international economy works in terms of trade, current account imbalances, exchange rates.
The course also aims to link the economic theory to current issues and open questions. A focus will be devoted to the current situation in the PIIGS countries, the causes and the consequences of the ongoing sovereign debt crisis in Europe, the issue of the Chinese currency undervaluation and the possible consequences on the world economy of a Chinese economy slowdown.
Students are strongly encouraged to read “The Economist” (available at the University’s library), the “Wall Street Journal” and the “Financial Times” articles concerning IE matters, as well as to follow the daily news on the main economic events.
The instructor will hand out or direct students to additional readings on international policy issues. Materials on the course will be posted on myjcu web page.
Classes will be a mixture of theory and case studies. Relevant economic news of the day will be frequently discussed in class.
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SUMMARY OF COURSE CONTENT:
The course covers selected topics in international trade theory and trade policy, as well as international finance and macroeconomic policy.
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LEARNING OUTCOMES:
ü To provide students with an analytical framework that can be used for understanding events in the field of international economics.
ü To help students to learn from various sources of information on the global economy.
By the end of the course, students should be able to: a) demonstrate an ability to analyse current issues in international trade on the basis of different models of international trade; b) demonstrate an ability to critically assess IE matters, and c) demonstrate an ability to appropriately select and deploy theoretical principles to address practical issues and problems
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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, 9 th Edition | Paul R. Krugman and Maurice Obstfeld | Pearson Addison-Wesley | 013274483X | | | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Exam 1 | | 25% |
| Exam 2 | | 25% |
| Final Exam | | 25% |
| Project | | 15% |
| In class participation | | 10% |
-ASSESSMENT CRITERIA:
ASSESSMENT METHODS:
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A/A-
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Excellent: correct answer to at least 90% of the questions; complete and detailed understanding of the material presented in the course.
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B+/B-
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Good: correct answer to at least 80% of the questions; above average understanding of the material.
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C+/C-
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Acceptable: correct answer for about 65 to 70% of the questions; clear understanding of the basic material of the course.
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D+/D-
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Pass: correct answer to at least 60% of the questions; some problem solving capacity but at a level that covers around 60% of the material presented. Has just convinced the instructor to pass them.
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F
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Has not reached any reasonable understanding of 50% of the course material.
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-ATTENDANCE REQUIREMENTS:
Students are encouraged to attend lectures
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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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Session
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Session Focus
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Reading Assignment
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Meeting Place/Exam Dates
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9/3/2012
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What is IE about?; World Trade: An Overview
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CHAPTERS 1,2
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9/5/2012
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Labor Productivity and Comparative Advantage: The Ricardian Model
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CHAPTER 3
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9/10/2012
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Specific Factors and Income Distribution
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CHAPTER 4
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9/12/2012
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Resources and trade: The Heckscher-Ohlin Model
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CHAPTER 5
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9/17/2012
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External Economies of Scale and the International Location of Production
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CHAPTER 7
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9/19/2012
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Firms in the Global Economy: Export Decisions, Outsourcing, and Multinationals Enterprises
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CHAPTER 8
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9/24/2012
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Revision lecture
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9/26/2012
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1st Exam
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CH (1-8)
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10/1/2012
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The Instruments of Trade Policy
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CHAPTER 9
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Project assignments
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10/3/2012
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The Political Economy of Trade Policy
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CHAPTER 10
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10/8/2012
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Trade Policy in Developing Countries
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CHAPTER 11
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10/10/2012
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Controversies in Trade Policy
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CHAPTER 12
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10/15/2012
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National Income Accounting and the Balance of Payments
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CHAPTER 13
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10/17/2012
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Exchange Rates and the Foreign Exchange Market: An Asset Approach
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CHAPTER 14
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10/22/2012
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Money, Interest Rates, and Exchange Rates
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CHAPTER 15
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PRESENTATION DUE
(all material)
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10/24/2012
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Revision lecture
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10/29/2012
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2nd Exam
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CH (9-14)
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10/31/2012
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Price Levels and the Exchange Rate in the Long Run
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CHAPTER 16
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11/5/2012
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Output and the Exchange Rate in the Short Run
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CHAPTER 17
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11/7/2012
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Output and the Exchange Rate in the Short Run
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CHAPTER 17
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11/12/2012
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Project presentation
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11/14/2012
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Project presentation
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11/19/2012
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Fixed Exchange Rates and Foreign Exchange Intervention
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CHAPTER 18
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11/21/2012
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Optimum Currency Areas and the European Experience
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CHAPTER 20
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11/26/2012
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Financial Globalization: Opportunity and Crisis
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CHAPTER 21
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11/28/2012
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Developing Countries: Growth, Crisis and Reform
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CHAPTER 22
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12/3/2012
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Revision lecture
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12/5/2012
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Revision lecture
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Exam 3 during the FINAL examination period.
See the University’s schedule for date and time.
Chapters 15, 16, 17, 18, 20, 21, 22
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