Download Global Economy - Georgia State University

Global Economy
ECON 2100
Fall 2008
Instructor:
telephone:
email:
Dr. Mikhail Melnik
Department of Economics
14 Marietta St, 1th floor
(404) 413-0142
[email protected]
Office Hours: TBA
Website: www.gsu.edu/~ecomim
Course Description: technological improvements and reductions in shipping costs are
stimulating the process of globalization. No longer is any nation’s economy insulated from
developments that take place in other economies. Understanding the ongoing developments
abroad and their impact on the domestic economy is therefore an important aspect of modern
economics.
Course Learning Objectives: This is an overview course and the students should expect to learn
the basics of international trade, international finance and development economics. The students
are also expected to develop a basic understanding of macroeconomics. The subjects that will be
discussed in the class will include the business cycle, inflation, unemployment, comparative and
absolute advantage principles, tariffs, quotas and other forms of trade restrictions, exchange rates,
the balance of payments, various aggregate output measure, transitional economies, the role of
various international organizations such as the IMF, WB, and WTO.
Grading: The grading will be based on your performance on two midterm exams, each
accounting for 30% of the course grade, a final exam, accounting for further 30% of the grade
and a group research project with a presentation, 10%. The final exam is comprehensive.
The group project will consist of 3 parts: (1) a Power Point presentation submitted to me the class
period before the presentation (2) a presentation in class, approximately 30-45 minutes in length;
(3) a submission of at least 10 potential exam questions and answers on the topic covered.
The presentation itself will be graded based on the following criteria:
a)
Content. The issue must be adequately presented. This means that there should be
sufficient amount of relevant information included, detail, and quality of
explanations in the presentation. Sources should be cited; web links are useful;
you may also find some interesting video material in the library. In addition to
factual information, feel free to express opinions on the topic and present their
justification.
b)
Ability to answer questions. Questions from the class are encouraged, and the
presenting team is judged on how it is capable of addressing these
c)
Structure. The presentation should be a single work and not a collection of
loosely connected sections. Connection between the parts presented by different
members during the class presentation and how well the Power Point
presentation is structured will be reflected in the grade
Make-up Policy: If one of the midterm exams is missed (because of a valid and documented
reason) the final exam will assume the weight of the missed midterm. If two midterms are missed
then the weight of the second midterm is zero.
Academic Honesty: Plagiarism and other forms of cheating on any assignment will automatically
result in zero score for that assignment and can be further pursued through the university channels
as listed in the Policy on Academic Honesty (Section 409).
Attendance: Attendance is required by the University. University policy states that all
instructors must, on a date after the midpoint of the course (to be set by the Provost),
1. Give a WF to all those students who are on their rolls, but no longer taking the class; and
2. Report the last day the student attended or turned in an assignment
If you choose to quit attending this course or choose to discontinue this course, it is your
responsibility as a student to officially withdraw from this course.
Recommended Readings: Global Economic Issues and Policies by Daniels and Van Hoose,
Thompson, South-Western, 2nd edition; the Economist, the WSJ.
Important dates: The last day to withdraw from the class and receive a W is October 1st.
The University will also be closed November 25-29 and also on September 1st. Our last
class period is Wednesday, December 3rd.
Note: The course syllabus provides a general plan for the course; deviations may be
necessary
Topics (tentative structure)
Introduction.
Evaluating economic activity. Output measures (GDP, GNP), Inflation, Unemployment
Basics of economics: markets, economic systems
Exam I
September 24
Economies in transition. Privatization, sequence of reforms, shock therapy versus gradualism.
International trade. Arguments for and against free trade. Trade barriers. Organizations and
agreements.
International finance. Role of exchange rate. Choice of exchange rate regime. Capital mobility.
IMF.
Exam II
November 10
Economic development. From capital formation to institution building. Export orientation and
import substitution policies. World Bank.
Proposed list of topics for the group project.
NAFTA and its impact on the US (to be presented following the discussion on trade)
World Trade Organization (to be presented following the NAFTA presentation)
Issues of Immigration and Outsourcing in the global economy (to be presented following the
WTO presentation)
The CIS agreement and the development of the former USSR zone.
Modern Economy of China and its impact on the US Economy (to be presented following the
discussion on market economy and transitional economies)
The World Market for Oil (to be presented following the presentation on the Chinese economy)
Increasing integration in Europe and the impact on the United States (presented following the
discussion of the exchange rate mechanisms)
The International Monetary Fund and its’ handling of international financial crises (presented
following the discussion of the exchange rate mechanisms)
Democracy and economic growth (presented following the discussion on economic development)
Economic stagnation in African Economies (presented following the discussion on economic
development)