ECON 204 - Introduction to Updated September 29, 2009 |
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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