ECON 204 - Introduction to
INTERNATIONAL ECONOMICS

Syllabus
Updated September 29, 2009


Phil Martinez
Office:  CEN 419C
Ph. (541) 463-5158
Hours: Daily 10 - 11, and by Appointment
E-mail: martinezp@lanecc.edu
webpage: http://teach.lanecc.edu/martinezp



Course Description
   
This course introduces students to the principle issues of international trade and finance.  The course begins with a brief comparison of the economic status and performance among major trading nations.  The course then examines alternative trade theories, protectionism, trade restrictions, trade policies, trade liberalization, free trade agreements (e.g., NAFTA), and labor and capital migration.  The final section of the course examines international finance, including exchange rates, interest rates, and monetary policy. The material is presented in comparative political economy framework analyzing the influence of different historical, social, cultural and political experiences on the evolution of different trade policies and orientations among the major trading economies.


Course Objectives
   
The course is designed for students with a general interest in international affairs and is an excellent introduction for those interested in pursuing related studies in business, political science, geography and economics.  The objectives of the course are to:
    i.   introduce the major theories and debates of international economics;
    ii.  provide a basic economic framework to analyze international economic
         policies;
    iii. provide a multidimensional perspective of the goals, operations and
         consequences of different trade policies; and
    iv. prepare students for future coursework.


Requirements:
  
 Attendance* is not required and will not be used as criterion for grading.  However, economics is a difficult class to learn purely by reading the text.  In my experience, students who miss even a few classes score lower on exams and assignments. Quizzes will be given periodically and without previous announcement.

Examinations must be taken at the scheduled time.  Make-up exams will only be given under exceptional circumstances, and you must notify me before you miss the exam. The Final Exam is scheduled for the Wednesday Dec. 10 at 12:00 noon.
 
Homework and short quizzes or oral presentations* may be assigned periodically.  Late homework will not be accepted and quizzes may not be made-up. 

Grading*: Students will be graded on a percent basis, with plus and minus grades within these ranges:

        A    90% and above         D    60-69%
        B    80-89%
        C    70-79%                        F    59% and below
           
All other grade options (Pass/No Pass, Incomplete, Audit, Withdrawal) are the responsibility of the student.  Students wishing to drop the course must do so through ExpressLane.


Required Readings:  Students are expected to read all of the assigned readings and are responsible for all of the material covered in each reading assignment. Assigned reading should be completed before the lecture.


Texts:
                REQUIRED: Econ204 Reading Packets available in LCC Bookstore during the second week of classes.


Disability Services:    If you are in need of academic support because of a documented disability you may be eligible for academic assistance.  Please contact Disability Services in the STUDENT SERVICES Building,, Bldg. #1, or call 463-5150 or TTY 463-3079 or contact Nancy Hart (541) 463-3010.

Equal Opportunity: Lane Community College is committed to providing a working and learning environment that is free from discrimination, harassment and retaliation.  Lane is committed to equal opportunity in education and employment, affirmative action, diversity, and compliance with the Americans with Disabilities Act.  The college prohibits discrimination in admissions, employment and access to college programs, activities, and services on the basis of race, color, national origin, sex, marital status, familial relationship, sexual orientation, pregnancy, age, disability, religion, expunged juvenile record, or veteran status. This commitment is made by the college in accordance with federal, state, and local laws and regulations. For more information contact Kate Barry at 463-3000.

This syllabus is subject to change at the discretion of the instructor.        



Econ 204 Course Outline


INTRODUCTION:  THE INTERNATIONAL CONTEXT
  
I.     Methodology
        A.    The Topic: Economic Globalization, Integration and Liberalization
                Why are they occurring?  Is this good, bad, or a mixed bag? 
                Should it be managed? Can it be managed?
        B.    International Economics, Development Economics & Their Goals
        C.     Measures of Performance & Comparative Trends
        D.    Theories of Economic Development

II.    Comparative Development Experiences                   
        A.    Historically
        B.    Between Rich and Poor Nations


INTERNATIONAL TRADE
 
III.    Classical Free Trade Theory                           
        A.    Mercantilism
        B.    Adam Smith, The Theory of Absolute Advantage & Economic Liberalism
        C.    David Ricardo & The Theory of Comparative Advantage

IV.    Critiques of Free Trade Theory
        A.    Traditional Critiques
                1.    Traditional Protectionism: Economic Nationalism & Neo-Mercantilism                            a.    Restrictions to trade:  Tariffs and Quotas
                        b.    Non-tariff restrictions
                        c.    National Security, Infant Industries, Import Substitution
                        d.    Export Orientation and Industrial Subsidies
                2.    Structuralism: Colonialism, Imperialism, Dependency, & Global Capitalism

        B.    Contemporary Critiques
                1.    New International Economics
                        a.    Externalities
                        b.    Market Imperfections
                2.    Strategic or Managed Trade   
                3.    Fair Trade
                        a.     Reciprocal Standards vs. Reciprocal Policies

V.    International Free Trade, the WTO and FTAs


INTERNATIONAL FINANCE

VI.    The International Monetary System: the World Bank and IMF
        Exchange Rates                               
        A.    Fixed versus floating exchange rates
        B.    Strong versus weak currencies

        Monetary Policy
        A.    The role of interest rates and inflation
        B.    Managing national interest rates
        C.    International monetary policy coordination

  VII.    International Finance
        A.    Financial Flows
        B.    The role of Multinational Corporations   
        C.    Capital and Labor Mobility
        D.    Financial Crises      

This Outline is subject to change at the discretion of the instructor.  

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