Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Balance of trade wikipedia , lookup
Transition economy wikipedia , lookup
Economic planning wikipedia , lookup
Nouriel Roubini wikipedia , lookup
Business cycle wikipedia , lookup
Transformation in economics wikipedia , lookup
Steady-state economy wikipedia , lookup
Economy of Italy under fascism wikipedia , lookup
Protectionism wikipedia , lookup
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)