ECONOMICS 4527/5527 -- INTERNATIONAL ECONOMICS
FALL 2009 INFORMATION SHEET

INSTRUCTOR:

Dr. F. Steb Hipple, Professor of Economics
Office -- Room 304, Wilson Hall
Phone/Voicemail -- 423-439-5304
Fax --423-439-8583
Email -- hipples@etsu.edu
Website -- http://faculty.etsu.edu/hipples
Office Hours – after class meetings and by appointment.

TEXTBOOK:

James Gerber, International Economics. 4^th Ed. Pearson Addison Wesley, 2008.

MEETING TIMES:

Tuesday and Thursday Afternoons
12:45pm – 2:05pm, Sam Wilson Hall, Room 322

COURSE DESCRIPTION AND OBJECTIVES: This is a senior/graduate course in international economics. The course will cover basic theory and policy aspects of international trade and international finance. The major emphasis of the course is on applications and current issues in the global economy.

LEARNING OUTCOMES: At the end of this course, the student will be able to: (a) describe the functioning of the international economy and the role of the United States, (b) understand the basis for economic specialization and international trade, (c) identify the gains and losses from trade for consumers and producers, (d) describe and evaluate the methods that governments use to promote and restrict trade, (e) understand the functioning and role of the international financial system, (f) analyze and comprehend the nature of international financial crises, (g) identify and evaluate the different strategies for economic development, and (h) comprehend the personal and business implications of economic integration and the emerging global economy.

COURSE ORGANIZATION: The course is divided into two major parts. First, we will cover the basic theory and policy aspects of international trade and international finance, and then turn our attention to the most significant issues in the global economy. The number of class meetings devoted to each topic is shown in brackets.

PART I. INTERNATIONAL TRADE AND FINANCE

A. Global Institutions
Chapter 1. The United States in a Global Economy [1]
Chapter 2. International Economic Institutions [1]

B. International Trade Theory
Chapter 3. Comparative Advantage and the Gains from Trade [1]
Chapter 4. Comparative Advantage and Factor Endowments [2]
Chapter 5. Beyond Comparative Advantage [2]
-- EXAM I (Thursday, September 24)

C. International Trade Policy
Chapter 6. The Theory of Tariffs and Quotas [1]
Chapter 7. Commercial Policy [1]
Chapter 8. International Trade and Labor and Environmental Standards [1]

D. International Finance
Chapter 9. Trade and the Balance of Payments [1]
Chapter 10. Exchange Rates and the Exchange Rate System [2]
-- EXAM II (Thursday, October 22)
Chapter 11. Introduction to Open Economy Macroeconomics [1]

PART II. ISSUES IN INTERNATIONAL ECONOMICS

Chapter 12. International Financial Crises [1]
Chapter 13. Economic Integration in North America [2]
Chapter 14. The European Union: Many Markets into One [2]
-- EXAM III (Tuesday, November 17)
Chapter 15. Trade and Policy Reform in Latin America [2]
Chapter 16. Export-Oriented Growth in East Asia [1]
Chapter 17. China and India in the World Economy [2]
PROJECT REPORTS/REVIEW [1]
-- EXAM IV (Thursday, December 17, 1:20pm)

CLASS MEETINGS: Classes will begin Monday, August 31, and end Friday, December 11. Holidays are Labor Day (Monday, September 7), Fall Break (Monday and Tuesday, October 19 and 20) and Thanksgiving (Thursday and Friday, November 26 and 27). There are a total of 28 scheduled class meetings. We will return during exam week for the last hour examination.

PREPARATION: Assigned chapters should be carefully read before class meetings. Class lectures will focus on the theoretical and quantitative aspects of the textbook material.

ATTENDANCE: Due to the limited size of the class, it is important to attend every class meeting if possible. Class roll will be taken at each class meeting; excessive absences will result in a reduction in your overall semester grade.

EXAMS: There will be four one hour exams. Make-up exams will be given only in cases of extreme emergency. If you must be absent from a regularly scheduled exam, please contact your instructor before the exam is given. The exam format will include written definitions, problems, and essays. Each exam will count 20% of the semester grade.

REPORTS: Each undergraduate student will be responsible for presenting a report on a topic in international economics or international business. The report topics will be assigned by the third week of September. A list of six printed references (books and articles) will be due by the end of September, to be supplemented by material from the internet. Reports will be given at the beginning of class meetings starting in mid-October. Each report should take eight to 12 minutes and should include appropriate presentation aids. The report grade will be based upon peer and instructor evaluation and will equal 20% of the semester grade.

ECONOMICS 5527: Each graduate student will conduct a major research project on a topic in international economics. The research proposal (including a bibliography) is due by mid-September. The research proposal will be presented to the class for approval. Report presentations will be made during the last week of classes. The graduate student is responsible for presenting the research results through lecture and appropriate presentation aids. The project grade will be based upon peer and instructor evaluation and will equal 20% of the semester grade.

GRADING: The scoring system for exams and reports is numerical (0 to 100) while the semester grade is a letter. The letter ranges are: "A" = 90 to 100; "B" = 80 to 89; etc. Plus and minus grades show strong or weak performance within the letter range.

WEBSITE: Please check our class website for announcements. Handout materials will also be available at the website. Go to http://faculty.etsu.edu/hipples

HELP: In addition to my posted office hours, I will be happy to meet with you by appointment. Please feel free to ask questions in class. Contact me for help on reading assignments and projects. Have a good semester!