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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 316-2"
COURSE NAME: "International Economics"
SEMESTER & YEAR:
Fall 2014
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SYLLABUS
INSTRUCTOR:
Simona Costagli
EMAIL: [email protected]
HOURS:
MW 7:30 PM 8:45 PM
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 address real world policy problems within a coherent theoretical framework;
2) to analyze how the international economy works in terms of trade, current account imbalances, exchange rates;
3) to gain an historical understanding of international economics.
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 European peripheral countries, the possible consequences on the world economy of a Chinese economy slowdown, and the impact of the Fed’s “tapering” of the “Quantitative easing” on the developing countries’ economies.
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. Major topics also include: exchange rates, open-economy macroeconomics, and international macroeconomic policy.
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LEARNING OUTCOMES:
- To provide students with an analytical framework that can be used for understanding events in the field of international economics.
- 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, 9th Edition | Paul R. Krugman, Maurice Obstfeld, and Mark Melitz | Pearson Addison-Wesley | 0-273-75409-2 | | | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Exam 1 | | 10 |
| Exam 2 | | 25 |
| Attendance and participation in class discussion | | 10 |
| Final exam | | 40 |
| Project | The project assigned has the objective to:
• find and document information;
• use information that is relevant to illustrating the question/issue of concern;
• present information in tables, charts, graphs that are visually easy to understand and properly documented;
• foster the ability to summarize in an oral presentation the key elements of an issue, indicating that the students have clearly understood the underlying details of the topic;
• help an appropriate use of empirical information.
Provide a 7 to 10 power point slides visual presentation, lecture outline, and bibliography.
The issue will be decided by lot from a list provided in the second week.
Presentations will consist in a debate between two groups of students (max. 3 students each group). The groups will face each-other sustaining opposite views on the same issue (ex: is the Chinese currency overvalued? Yes vs no; Is the Fed tapering of the quantitative easing too fast? Should Us firms continue to outsource their productions in China? …). Each group is supposed 1) to present its view using ppt (or other supports like prezy); 2) to question and discuss the other group’s view; 3) to answer to the professor/public question on the issue.
All material must be handed in by October, while presentations will be made during November classes.
Use at least 5 sources, of which at least 2 must be for empirical data – Wikipedia is not considered a valid source. Please refer to the JCU Frohring Library Reference Librarian or Modern Language Association Style Guide on how to properly cite sources.
Grading will be based on:
• Clarity of the presentation
• Structure of the argument and organization of the information
• Documentation of sources as well as graphs, charts, etc.
• Appropriate choice of visual information that illustrates the issue clearly and professionally
• Depth and insight of the research
• Ability to use theoretical and empirical instruments to criticize/support an issue
What must be handed in?
1. Bibliography of sources and indication regarding which PPT slides used those sources.
2. PPT presentation.
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-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:
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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Week 1
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What is IE about?; World Trade: An Overview
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CHAPTERS 1,2
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Week 1
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Labor Productivity and Comparative Advantage: The Ricardian Model
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CHAPTER 3
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Week 2
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Specific Factors and Income Distribution
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CHAPTER 4
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Week 2
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Resources and trade: The Heckscher-Ohlin Model
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CHAPTER 5
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Week 3
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External Economies of Scale and the International Location of Production
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CHAPTER 7
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Week 3
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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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Week 4
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Revision lecture
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Week 4
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1st Exam
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CH (1-8)
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Week 5
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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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Week 5
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The Political Economy of Trade Policy
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CHAPTER 10
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Week 6
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Trade Policy in Developing Countries
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CHAPTER 11
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Week 6
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Controversies in Trade Policy
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CHAPTER 12
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Week 7
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National Income Accounting and the Balance of Payments
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CHAPTER 13
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Week 7
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Exchange Rates and the Foreign Exchange Market: An Asset Approach
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CHAPTER 14
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Week 8
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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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Week 8
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Revision lecture
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Week 9
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2nd Exam
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CH (9-14)
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Week 9
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Price Levels and the Exchange Rate in the Long Run
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CHAPTER 16
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Week 10
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Output and the Exchange Rate in the Short Run
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CHAPTER 17
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Week 10
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Output and the Exchange Rate in the Short Run
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CHAPTER 17
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Week 11
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Project presentation
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Week 11
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Project presentation
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Week 12
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Fixed Exchange Rates and Foreign Exchange Intervention
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CHAPTER 18
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Week 12
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Optimum Currency Areas and the European Experience
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CHAPTER 20
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Week 13
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Financial Globalization: Opportunity and Crisis
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CHAPTER 21
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Week 13
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Developing Countries: Growth, Crisis and Reform
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CHAPTER 22
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Week 14
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Revision lecture
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Week 14
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Revision lecture
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Fina Exam during the FINAL examination period.
See the University’s schedule for date and time.
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