Economics 360



JUNIATA COLLEGE

Accounting, Business and Economics Department

International Economic Issues

EB 105

|Professor Brad Andrew |Office: 814-641-3378 |

|Brumbaugh C205d |E-Mail: Andrew@juniata.edu |

|Office Hours: MWF 10-11 AM |Home Page: |

|TuTh 2:30-3:30 PM | |

|and by appointment. | |

| |Textbook Website: |

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| |udience_code=030 |

Course Objectives:

EB 105 is an introduction to economic thought as it applies to international economics. The purpose of this course is to develop a broad understanding of international economic relations, including the benefits of international exchanges and the tensions that arise from trade between nations. Important concepts covered in this course include a basic introduction to:

Some basic economic terminology;

International Organizations that influence trade and finance;

A rudimentary understanding of market forces;

methods of measuring international economic integration;

forces increasing international economic integration;

the gains from international trade;

the reaction to increased international economic integration;

trade and economic development;

measurement of the balance of payments and what it tells us about a nation's economy;

the role of exchange rates;

a history of the cotton industry as it relates to international trade;

and a history of the Argentine crisis of the early 2000s as it relates to international finance.

After taking this course, you will have an understanding of some key terms used in international economic discourse. Furthermore, you will be better able to analyze international economic issues that are in newspapers and on TV. Finally, you should be able to connect international economics to broader historical and social trends, giving you a better understanding of the world.

Required Books

1. Mordechai E. Kreinin, International Economics: A Policy Approach, 10th edition, Thomson/SW, 2006.

2. Paul Blustein, And the Money Kept Rolling In (and Out), Public Affairs, 2005.

3. Pietra Rivoli, The Travels of a T-Shirt in the Global Economy, John Wiley and Sons, 2005.

4. Philippe LeGrain, Open World:/The Truth about Globalisation, Ivan R. Dee, 2004.

Grades:

There are five assignments, 15 quizzes (14 count—the lowest is dropped), two midterm exams, one paper and a cumulative final exam. Class participation also counts. The exams are a combination of short essays, numerical problems, and interpretation and construction of graphs. Weights of each item are:

|Exam #1 |10% |

|Exam #2 (cumulative) |15% |

|Final Exam (cumulative) |25% |

|16 Best Quizzes (out of 17—lowest grade dropped) |15% |

|4 Group Assignments |20% |

|Class Participation |15% |

|Total possible = |100% |

Due dates:

Assignments: Every 2-4 weeks (Due dates: 1/26, 2/12, 3/20, 4/18) at the beginning of class, (10 point penalty for 0-24 hours late, 20 points for 24-48 hours late, etc.)

Quizzes: Generally whenever a reading assignment is due—see course calendar

Exam #1: 2/19

Exam #2: 3/28

Final Exam: TBA

Quizzes:

Quizzes will be primarily from the reading for that week, but will often include a question or two from the previous week’s topics. The lowest quiz grade will be dropped.

Group Assignments:

The group assignments will be a combination of problems and exercises from the text, outside sources, analytical stories and short assessments of articles that you find from various sources. All assignments have two components—your individual handwritten answers plus the typed final group answers. The best way to get the articles that you need to complete the assignments is to go to the library’s database page and search Lexis-Nexis or ProQuest Direct over the last two years using the keywords that I suggest in the assignment. Be sure to click on “Show results with full text availability only” box below the search boxes. Doing this ensures that your search will only return articles that are available online. The way you will write the group assignments will be described in each assignment’s directions.

Academic Honesty & Integrity Policy:

Ethics are an integral feature of all personal, social, and professional considerations. Thinking ethically and accepting responsibility for one’s actions are essential to personal development. Juniata’s graduates are committed to their intellectual, ethical, and social development throughout life. Students are expected to understand and comply with Juniata’s Academic Honesty & Integrity Policy.

Participation:

This course requires participation by you. You are expected to attend class and participate regularly in developing the ideas concepts of international economics. Class participation will include answering questions, occasional short in-class assignments designed to stimulate class discussion, and keeping track of current economic issues relevant to the class. Regularly reading the Financial Times (whose website is the first listed below) plus browsing the following sites will aid you in this task:

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|home.htm | |

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Dropping the Course:

The registrar sets the deadline for dropping this course. After this date, you may drop the course with my permission, but only after you have met with me to discuss your situation.

Course Calendar:

Week Assignment Topic

|1 |Syllabus (read it); Kreinin: pp. 6-11, LeGrain: Introduction, Handout |Introduction; Create groups; International Integration; Quiz will |

| |(see below)* for Wednesday |be on Wednesday |

|2 |Kreinin: ch. 2; Rivoli: preface, prologue, chs. 1 and 2, LeGrain: pp. |Comparative Advantage; Quiz on Monday |

| |86-89; McEachern, “The Economy’s Production Possibilities”, on reserve, | |

| |for Monday | |

|3 |Homework #1 due Monday, January 26; Kreinin: pp. 140-144, 235-237; |International Organizations; Quiz on Wednesday |

| |Blustein: 39-42; Online readings** for Wednesday | |

|4 |LeGrain: Chapter 7 and pp. 254-263 for Monday; McEachern: ch. 3 (on |Finish Int’l Organizations; Supply/Demand Analysis; Quizzes on |

| |reserve) for Wednesday |Monday and Wednesday |

|5 |Homework #2 due Monday, February 12; Exam 1 on Friday, February 16 |No quiz; Finish supply/demand analysis Exam 1 |

|6 |Kreinin: ch. 3; Rivoli: ch. 3 for Wednesday; No Class on Friday, February|Comparative Advantage and Factor Proportions; Quiz on Wednesday; |

| |23 |No class on Friday |

|7 |Rivoli: ch. 4; Handout and online readings*** for Monday; Kreinin: pp. |Finish Factor Proportions; Tariffs and Non-Tariff Barriers; |

| |57, 60-bottom of 70, 79-85, 98-109 for Wednesday |Political Economy of Barriers; Quizzes on Monday and Wednesday |

|8 |Spring Break!!!!! |Have fun!!!!! |

|9 |Rivoli: chs. 3 and 8 for Wednesday after break; Kreinin: pp. 144-146; |Finish Tariff and Non-Tariff Barriers, Political Economy of…; |

| |LeGrain: pp. 63-66, 241-253; Rivoli: ch. 5; Online Readings**** for |Trade and Labor/Environmental issues; Quizzes on Wednesday and |

| |Friday |Friday |

|10 |Homework #3 due Tuesday, March 20 by 10:30 AM; Kreinin: ch. 10; Blustein:|Finish Trade and Labor/Environmental Issues; Balance of Payments |

| |pp. 1-8, 42-60 for Friday |and the Int’l Monetary System; Quiz on Friday |

|11 |Exam 2 Wednesday, March 28; Online Readings***** for Friday |Exam 2; Start Exchange Rates; Quiz on Friday |

|12 |Blustein: pp. 87-157 for Monday; Kreinin: Ch. 11 for Friday |Continue Exchange Rates; Quiz on Monday |

|13 |Blustein: ch. 8, pp. 189-196, 209-212; LeGrain: pp. 282-290 for Monday; |Finish Exchange Rates; Start Trade and Economic Development; |

| |Kreinin: pp. 150-153; Handouts and Online Readings****** for Friday |Quizzes on Monday and Friday |

|14 |Rivoli: chs 10 and 11 for Monday; Homework #4 due Wednesday, April 18 |Trade and Economic Development con’t; Quiz on Monday |

|15 |LeGrain: pp. 47-63, 66-72, 167-170 for Monday; |Trade and Economic Development con’t; Quiz on Monday |

|16 |Catch up, Review and Reflect |Catch-up, Review and Reflect |

| |Final Exam |TBA |

*Handout for Week 1:

Mehrene Larudee, “Who Gains from Trade?”, from Real World Globalization.

**Online Readings/Handouts for Week 3:

“The WTO in brief” at (Read all four parts)

Robert Hunter Wade, “The WTO still has a long way to go”, International Herald Tribune, August 3, 2004 (available on Lexis-Nexis; search under “world news” and “European news sources”).

Tobias Buck, Raymond Colitt, and Guy de Jonquières, “Brazil wins ruling on EU sugar subsidies”, Financial Times, August 5, 2004 (available on Lexis-Nexis; search under “world news” and “European news sources”).

“Trading Blows”, Wall Street Journal, 12/19/05 (available on ProQuest).

“About the IMF” at , “Fact sheet: The IMF at a glance” at and “IMF conditionality” at

“About the World Bank” at ?

“World Bank ignores…” at

***Online Readings and Handout for Week 7:

Brad DeLong, “An Outsourcing Finger Exercise”, handout

Richard DuBoff, “Globalization and Wages” at



Michael Lind, “Explode the myths of global competition”, Financial Times, July 27, 2005 (available on Lexis-Nexis—search under “World News” and “European News Sources”).

****Online Readings for Week 8 (continued on next page)

Dara O’Rourke, “Sweatshops 101” at

Jim Yardley and David Barboza, “Help Wanted: China Finds Itself With a Labor Shortage”, NYT April 3, 2005, and Nicholas Kristof , “Starved by Red Tape”, NYT October 18, 2005 (both NYT articles are available on Lexis-Nexis; Search under “General News” and “Major Papers”)

Paul Krugman, “In Praise of Cheap Labor” at

Sheridan Prasso, “Trading Up”, The New Republic, August 16-August 23, 2004 (available on Lexis-Nexis—search under “General News” and “Magazines and Journals”).

*****Online Readings for Week 10:

“Strong Dollar, Weak Dollar” at

Steven R. Weisman, “Paulson Reinforces His Reach,” NYT, August 10, 2006, (available on Lexis-Nexis)

******Handouts/Online Readings for Week 12:

Interview of Amartya Sen by Nermeen Shaikh at

Dani Rodrik, “Sense and Nonsense about the Globalization Debate”, (available on ProQuest).

Mohammed Yunus, “The Grameen Bank”, handout.

Lant Pritchett and William Easterly, “The Determinants of Economic Success: Luck and Policy”, Finance and Development (handout).

If you are having difficulty:

Come see me!!!! It’s much easier to explain concepts one-on-one than to forty people.

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