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Syllabus
Country Reports
Measuring Global Economies
David Cook
Office: 2346
Phone: 2358-7614
Email: [email protected]
Home Page: http://home.ust.hk/~davcook/Frontpage.htm
Summary Participating in global trade and finance requires the ability to quickly gain
an understanding of the operating environment in countries across the world.
Information about business and economic conditions is available in country reports
constructed by specialist professionals. Macroeconomics provides sophisticated
specialist tools for evaluating the business environment at the national level. This class
will focus on some tools available to the generalist to examine country-level decisions
in management and investment. These tools are drawn from a variety of social science
and business disciplines. The objective of the course will be to use those tools to extract
and summarize information about countries at the national level so as to use this
information for business decisions.
Objectives The course is designed to meet the Core Curriculum objectives in the field
of Social Analysis. Graduates will learn to:

Analyze key societal and behavioral issues by applying relevant social scientific
approaches in different contexts
The specific objectives of the course.

Graduates will be able to use quantitative and qualitative methods to compare
policies, institutions, systems of a variety of global economies.

Graduates will be able to interpret professional reports on economic conditions
Course Requirements There are no prerequisites for the course. Students will be
assumed to have standard skills in algebra.
Course Assignments The grading will be based on homework assignments, an in-class
mid-term exam, and a final exam. The dates are as yet advisory and will be updated
throughout.
Assignment
1
2
3
4
Exam
Mid-term
Final
Assigned
Due
September 23
October 7
November 11
November 25
September 30
October 14
November 18
December 2
Date
October 21st
TBA
Grade
5%
5%
5%
5%
Grade
30%
50%
Outline and Reading List
I.
Introduction
A. Globalization
 Globalization: A Brief Overview By IMF Staff 08/02 - May 2008 Link
 GLOBALIZATION, GROWTH, AND POVERTY World Bank Policy
Research Report 2002 The World Bank Overview p.1-22 Link
II.
Measurement
A.
B.
Introduction to National Income and Product Accounts
 Lequiller François and Derek Blades, 2006, Under standing NATIONAL
ACCOUNTS, Organization for Economic Cooperation and
Development, Chapter 1 and 2. Link
 Bureau of Economic Analysis “Introduction to the National Income and
Product Accounts” Link
Comparing GDP Across Time and Space
 World Bank International Comparisons Program, Link
 Kennedy, Peter, Macroeconomic essentials: understanding economics in
the news, Cambridge, Mass. : MIT Press, c2000 Link

C.
Maddison, Angus, 2000, “The World Economy in the Second Half of the
Twentieth Century,” Link
Human Development
 United Nations, 2010, “Human Development Report 2010 - 20th
Anniversary Edition,” The Real Wealth of Nations: Pathways to Human
Development,” Link
 Kenny, Charles, 2 0 10. “Getting Better in Pictures,” Center for Global
Development Link

III.
Gertner, John, 2010, “The Rise and Fall of GDP,” NY Times Link
Policy
A. Monetary Policy
 ECB, “Price Stability: Why is it Important for You?” Chap 2-4 Link
 The Monetary Policy, Committee Bank of England, “The transmission
mechanism of monetary policy,” Link
 The Federal Reserve System: Purposes & Functions, Chap 2-3 Link
B. Fiscal Policy
 Budget of the United States Government: Citizen's Guide to the Federal
Budgets Chap 2, & Chap. 4, Link

IV.
IMF, 2001, Government Financial Statistics Manual, Chap. 4 Link
Frameworks
A.
B.
Country Analysis
 Dyck, Alexander, 1997, “Country Analysis: A Framework to Identify
and Evaluate the National Business Environment”, Harvard Business
Cases, Jan 22, 1997 Link
 Richard H.K. Vietor; Emily J. Thompson, 2003, Singapore Inc.
 Economist Intelligence Unit, 2010, Country Report Singapore. Link
Competitive Advantage of Nations

C.
Porter, Michael E “The Competitive Advantage of Nations,” Harvard
Business Review March-April 1990. Link
 Porter, Michael E.; Boon Siong Neo; Christian H.M. Ketels, 2010,
“Remaking Singapore,” Harvard Business Cases
 World Economic Forum Global Competitiveness Report, Chap 1.1, p.
1-15 Link
 McKinsey Global Institute, 2010, “How to Compete and Grow,” Link
Political Risk
 Bremmer, Ian, 2005, “Managing Risk in an Unstable World,” Harvard


Business Review Link
U.S. National Intelligence Coucil, “Mapping the Global Future: Report
of the National Intelligence Council’s 2020 Project,” Link
Papaioannou, E. and G. Siourounis, “Democratisation and Growth,”
Economic Journal, Vol. 118, No. 532, pp. 1520-1551, October 2008 Link
V.
Topics
A.
B.
Finance – Corporate Governance and Liberalization
 Claessens, Stijn, 2006, “Corporate Governance and Development,”
World Bank Research Observer Link
 Obstfeld, M., 2008, “International Finance and Growth in Developing
Countries: What Have We Learned?” IMF Staff Papers (2009) 56,
63–111. Link
Exchange Rate Regimes and Risk
 Reinhart, Carmen and Kenneth Rogoff, 2008, “This Time is Different: A
Panoramic View of Eight Centuries of Financial Crises,” NBER
Working Paper No. 13882 Link

Lipsky, John, 1998, Asia's Crisis: A Market Perspective Finance and
Development Volume 35, Number 2 Link
C.
Geographical Economics
 Porter, Michael, 1998, “Clusters and the New Economics of
Competition,” Harvard Business Cases
D.
Demographics
 Mohan, Rakesh, 2004, “Fiscal Challenges of Population Aging: The
Asian Experience,” Jackson Hole Symposium Link

Mckinsey Global Institute, 2005, “The Coming Demographic Deficit:
How Aging Populations Will Reduce Global Savings,” Link