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New York University ECON UA-238 International Economics, Spring 2017 Tue-Thu 9:30-10:45 AM, GCASL Room C-95, Washington Square Instructor: Office: Office Hours: Henry Ma, [email protected] Department of Economics, 19 West 4th Street, Room 503 Tue 12-1 PM, Thu 12:00-2:00 PM, or by appointment Do feel free to drop by during my regular office hours to ask questions about the lectures you’ve attended, or for any other reason. I would like this course to be more than about just grades, and to be a learning experience. Lectures: Please plan to arrive slightly ahead of time, so that you can be seated when the lecture starts. I do not allow the use of laptops and cellphones in the classroom, as they create a negative externality (please see Attached). All materials will be distributed through the website: announcements; lecture notes and additional readings (under “Resources”), and online quizzes (under “Tests & Quizzes”). NYU Classes: Teaching Assistant: Carlos Lizama Recitation Hours: Wed 9:30-10:45 SILV 411 Wed 11-12:15 KIMM 808 You can attend either session, regardless of your registration. I strongly recommend that you attend the recitation sessions. Textbook: James Gerber, 2014, International Economics, 6th Ed (ISBN 978-0-13294939-2). Additional readings will be posted on NYU Classes or distributed in class. Prerequisites: (ECON UA-1 or ECONUA-9001 or ECI UF-1001 or AP MACROECONOMICS with score of 4 or 5) AND (ECON UA-2 or ECON UA-9002 or ECI UF-1002 or ECON SHU-2 or ECON SHU-3 or AP MICROECONOMICS with a score of 4 or 5). All with a minimum grade of C. Grading: 25% (Midterm Exam 01), 25% (Midterm Exam 02), 30% (Final Exam), 20% (online quizzes on NYU Classes). Grading follows the Department’s guidelines: A (top 29%), B (middle 40%), C and below (bottom 31%). About 6-8 quizzes will be posted on NYU Classes during the semester. Exams: If you will be taking exams at the Moses Center, please inform me ASAP. The first exam is on February 21; the second exam is on April 6. The final exam is on May 11, 8-9:50 AM. This date is fixed by the Registrar. If you think you might not be able to take the final exam on that date, then you should not take this course. Brief description This course is an overview of how economies interact. It focuses on international trade in goods and services, but we will also be looking at international finance. In international trade, we look at why and how economies exchange goods and services; the impact of these exchanges on growth, incomes, and jobs; and the role of public policy. In international finance, we look at how an economy’s international balances are measured; how exchange rates are determined and the impact of their movements; and how policy choices affect international balances. I strongly recommend that you pay equal attention to the textbook and to the lectures. I will also be frequently distributing additional readings related to the topics we cover. The US and world economies are at a crossroads, and trade policy issues are likely to become increasingly prominent and controversial. This course will enable you to intelligently and objectively assess current debates and events. Hence, I strongly encourage everyone to keep up with current economic and financial news by regularly reading The Economist, Financial Times, or Wall Street Journal. Often, the concepts we discuss in the classroom will show up in the daily economic and financial news. Our discussions will help you make sense of these events; conversely, these events will help make clearer the concepts we discuss in class. Date 01 01/24 Topics Chapter 02 01/26 Introduction and Housekeeping; Review of Microeconomics Review of Microeconomics (contd.) 03 01/31 04 02/02 Ricardian Theory and International Trade Ricardian Theory and International Trade 03 03 05 02/07 06 02/09 Ricardian Theory and International Trade Factor Endowments and International Trade 03 04 07 02/14 08 02/16 Factor Endowments and International Trade Factor Endowments and International Trade 04 04 09 02/21 10 02/23 Midterm Exam 01 Alternative Perspectives on Trade 05 11 02/28 12 03/02 Alternative Perspectives on Trade Globalization and International Institutions 05 01-02 13 03/07 14 03/09 Trade Policy Trade Policy 06 07-07 03/13-03/19 Spring Break 15 03/21 16 03/23 Trade Policy Trade Policy 17 03/28 Import Substitution; “Resource Curse” 18 03/30 Import Substitution; “Resource Curse” 19 04/04 20 04/06 East Asian Trade and Development Midterm Exam 02 16 21 04/11 22 04/13 Balance of Payments Balance of Payments 09 09 23 04/18 24 04/20 Exchange Rates Exchange Rates 10 10 25 04/25 26 04/27 Exchange Rates European Union 10 14 27 05/02 28 05/04 US and World Economies US and World Economies 13 13 05/11 8-9:50 AM Final Exam 07 07-08 15, 17 Addl readings 15, 17 Addl readings