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GRAND VIEW COLLEGESYLLABUS
Department and Course #:ECON 320Course Title:INTERNATIONAL TRADEAcademic Term:SUMMER 2009Class Time:TUESDAY AND THURSDAY, 5:45p-8:00pAcademic Division:SOCIAL SCIENCESInstructor:TOM SCHENK Telephone Number:515-281-3753Email:tschenk@gvc.eduACADEMIC MAJOR GOALS AND OBJECTIVES
1.Demostrate abilities to conduct research to access relevant information and then communicate theresults of the research to others in written and oral format.2.Demonstrate abilities to work in a team environment, as a leader and as a follower, to generate solutionsto specific situations.3.Develop skills in analyzing business situations and recommend courses of action that show a thoroughunderstanding of the internal and external envorments.
INSTRUCTIONAL OBJECTIVES*Learning as KnowledgeThe student will:
1.
Identify the definition(s) of political theory, economics, international trade2.Identify the basic principles of the law of supply, law of demand, and market equilibrium.
3.
Identify and understand the principles of unemployment, interest rates, fiscal, andmonetary policy.4.Understand the economy as a system.
*Learning as Process or BehaviorThe student will:
1.
Relate political economy systems to the U.S. and other economies.2.Study how the market system allocates products and services to consumers.3.Apply economic theory in real-world applications
4.
Learn how policy affects all the elements of the economy.
*Learning as AttitudeThe student will:
1.Appreciate the basic underlying dilemma of economics.2.Develop an awareness of how economics impacts their daily lives.3.Appreciate the complex interactions in an economy.
CONTENT OUTLINE
•
Elements of international trade: political economy, culture, political science, economics.
•
Institutions in international trade
•
Political philosophy
•
Trade-offs and opportunity cost
•
Comparative advantage
•
Foreign Direct Investment
•
Monetary institutions in international trade
•
Regional trade agreements
1
INSTRUCTIONAL PROCEDURES
Instructional procedures for this course will include lectures, class discussions, “company” (group) exercises,case analysis, and individual assignments. Students will successfully pass the class if they aforementionedactivities.
INSTRUCTIONAL RESOURCES
1.
Textbook: Economics by David Colander, 7
th
Edition, McGraw-Hill, Irwin: 2006ISBN: 0-07-340286-9
2.
Periodicals:
The Economist
,
The Wall Street Journal
,
The Des Moines Register, New York Times
3.
Blogs: Grew Makiw, Marginal Revolution, Free Exchange, Dani Rodrik’s Weblog,Growth Commission Blog4.Other readings will be distributed online and in-class.
ASSESSMENT OF ACADEMIC ACHIEVEMENT
P R F M Y
•+•+•+•=
1.03.03.03.0
Y = total score;M = MidtermF = FinalR = Research ProjectP = Participation
Exams:
One exam will be administered. The exam will consist of a multiple choice, argument, and long problems. Multiple choice questions will test basic economic vocabulary and elementary relationships.Argument questions will ask the student to reply to a normative statement using economic reasoning taught inclass. I may use quotes from recent periodicals and/or blog posts. Finally, long problems will be multi-part andwill test whether the student can work through an economic model. Each exam will implicitly be cumulativeinsofar as the principles of economics are tightly intertwined, but the emphasis will be on the contemporarylesson.
Final:
The final will explicitly be cumulative, although the emphasis will be slightly more on the latter half of the class. The format will be similar to exams: multiple choice, essay, and long problems. The test is worthslightly more and, thus, will be slightly longer than exams.
Research Project:
Students will participate in a 2 to 3 member group project that will be completed in four stages with a culmination up to a final presentation. Each group will choose a country to research and write onthe country’s political, culture, and economic system. A defined portion of the paper will be due approximatelyevery two weeks. Details of the assignment will be provided in another document.
Participation:
As an advanced class, this course depends on dialog between the instructor and professor.Students will be expected to participate in each class.
Final Grade:
Letter grades will be assigned as follows:
A = 90-100%B = 80-89%C = 70-79%D = 60-69%F = < 60%MISSED EXAMS AND ASSIGNMENTS
Project milestones will be due at the beginning of the day. Tests will be given on the days denoted below. Lateassignments will be penalized 40 percent. Students must notify the professor of an upcoming absence. Studentswill be allowed to make up exams
ONLY
when the professor received prior notification for the inability tocomplete the exams. In extreme cases where prior notification is impossible, the student must provide writtendocumentation—not by the student—explaining the absence. Students who miss a test for an unexcused absencewill receive a zero.
2
ATTENDANCE
Students will be expected to attend every class. Irregular attendance will be reflected in participation score.
WRITING AND CRITICAL THINKING
Modern economics is intensely mathematics, but few people possess the training to grasp a mathematical model.As such, economics is typically communicated in written periodicals so it is no coincidence that well-knowneconomists tend to be good writers—e.g., Paul Krugman, Herny James, John Gailbraith, and Milton Friedman.Employers often lament and seek those with sharp writing ability. Although writing ability is hard to noticeduring an application procedure, employers will often quickly promote those who effectively communicate.This class will challenge student to reply to assertions during an examination. Students will need to synthesizeeconomic theory and writing to convince the professor the original argument was either fallacious or correct.This experience will be different from writing an essay or research paper. Argument portions of the exam willgive the student little room to wonder or “add fluff”.
TENTATIVE SCHEDULE & READINGS
Economics is truly an interdisciplinary subject involving political theory, moral philosophy, mathematics, andelements of all social sciences. This course will be based around the cold logical and mathematical aspects oftensatirized in TV and movies. However, this class will also overtly emphasis applications of economic theory and briefly highlight the moral philosophy and political philosophy elements.All readings listed below are mandatory. Readings should be completed prior to the scheduled class. Thesereadings will delve into political theory, philosophy, and other classical writings that will add to the student’scomprehensive knowledge. Students will not be tested over the material and absolutely should complete other assignments first. I hope this syllabus will be a resource for the student after the class has been completed.The required textbook for this class will be
Global Business Today
, Charles W.L. Hill, Sixth Edition, 2009(ISBN: 978-0-07-338139-8)05 May:Introduction to GlobalizationGlobalizationHill – Chp. 1Institutions in International TradeStiglitz, Joseph.
Globalization and its Discontents
– Chapter 1, The Promise of Global Institutions07 May:Political Economy and the LawHill – Chp. 2Sen, Amartya,
Development as Freedom
– Chapter 2, The Ends and the Means of DevelopmentPolitical philosophies:http://www.politicalcompass.org/12 May:Culture & SocietyHill – Chp. 3Sen – Chapter 10, Culture and Human Rights14 May:Ethnics and Social JusticeHill – Chp. 4Sen – Chapter 3, Freedom and the Foundations of Justice19 May:
PHASE 1 DUE
International Trade TheoryHill – Chp. 521 May:Political Economy of TradeHill – Chp. 6Stiglitz – Chapter 2, Broken Promises
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Econ 320 Syllabus - Summer 2009
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