Professor: Douglas Nelson
Office: Tilton 108 (Murphy Institute), Phone: 865-5317
Office Hours: Tuesday and Thursday, 3:30-5:30
Phone: 865-5317
email: dnelson@tulane.edu
Webpage: http://www.tulane.edu/~dnelson/
Even the most cursory reading of the news should alert us to the importance of international economic relations. In its more spectacular forms, these relations are front page news, but even in their more mundane forms international trade, international investment, and international money affect our lives in profound and intimate ways. Whether to increase our effectiveness in our directly economic pursuits or to meet the burdens of good citizenship, an understanding of these forces is clearly important.
This course offers a non-technical introduction to the analysis of international economic issues. The goal of the course is to increase your knowledge of these issues and your tools for analyzing them. While we will be primarily interested in developing standard microeconomic and macroeconomic approaches to these issues, we will also attempt to present a variety of other useful approaches from political science, sociology and less mainstream parts of economics. Among the specific issues with which we shall be concerned this semester are: protection and protectionism; the multinational firm; the debt crisis; international macroeconomic policy coordination; and European integration.
Prerequisites: Although this course is “introductory” and “non-technical”, it is still an economics course. Thus, some exposure to micro- and macroeconomics is necessary to effective class participation. Specifically, you will need Econ 101 and 102. We will be making substantial use of algebraic and geometric argument in this class and it is assumed that you have a level of mathematical skill consistent with high school algebra and geometry.
Evaluation: Your performance in this course will be evaluated on the basis of 3 examinations (worth 100 points each). To receive an A, you must earn at least 90 percent of the points available. To pass the course you must earn at least 60 percent of the points available. Grades between these limits will be determined on the basis of your performance relative to that of the class as a whole.
Readings for the course will be drawn from:
Steven Brakman, Harry Garretsen, Charles van Marrewijk, and Arjen van Witteloostuijn (2006). Nations and Firms in the Global Economy. New York: Cambridge. [BGMW]
Text website: http://people.few.eur.nl/vanmarrewijk/global/index.htm
Homework The website for the textbook has a number of very useful review questions and computational exercises. Answers for the exercises can also be found on the website. These provide a way of checking whether you are understanding the material. Recent cutbacks at the University mean that I am unable to have these exercises graded. Thus, they will not count toward my evaluation of your performance.
Examination format. All exams will have the following format: about 40% short answer questions and about 60% essays. In general there will be more questions of both types than must be answered, so you will have some choice (though there is often one mandatory question which everyone must answer). Examination questions must be answered in bluebooks, which you must provide.
Policy on examinations. The midterm exams will be given on 23 February and 4 April.. Unless you have a standard university accepted excuse for missing the exam (e.g. health with standard university form), you must take the exams at their scheduled time. The third exam will be given during the final examination period. That is, it will only be given on: Sunday, 6 May 2007, 1:00-5:00pm (there will be no exceptions so do not make travel plans that conflict with this).
Some Good Advice (At No Extra Charge): First, keep current with the reading. Not only will that maximize your homework grades, but it will allow you to make the most of lecture. Second, do the homework. Again, this earns no credit, but it does provide a useful check prior to taking the exam on your learning of the material. Third, form a study group and do the exercises together. Actively presenting your answers to others is one of the best ways to test your knowledge. Fourth, ask questions in class. If you read something and it is unclear and then it is unclear during lecture, ask about it. Your classmates will probably thank you. This is one of the few ways, before an exam, that I can gauge how the material is getting across. Fifth, come see me during my office hours. This is another opportunity to get clarification and help on material about which you are unclear. But don't wait until the last minute, by then it is usually too late.
Economics 337 SYLLABUS Spring 2007
Topic I. Introduction to the World Economy
● 17-22 January: Introducing the Global Economy
■ BGMW, Chapter 1
● 24-26 January: Essential Accounting Relations
■ BGMW, Chapter 2
Topic II. International Trade
● 29 January-2 February: Trade and Comparative Advantage
■ BGMW, Chapter 3
● 5-9 February: Trade and Competitive Advantage
■ BGMW, Chapter 4
● 12-16 February: Firms, Location and Agglomeration
■ BGMW, Chapter 5
Midterm Review: 21 February
Midterm 1: 23 February.
Topic III. Capital, Currency and Crises
● 26 February-2 March: International Capital Mobility
■ BGMW, Chapter 6
● 5-9 March: Gains from Capital Market Integration
■ BGMW, Chapter 7
● 12-16 March: Investors, Exchange Rates and Currency Crises
■ BGMW, Chapter 8
● 26-30 March: Financial Crises, Firms and the Open Economy
■ BGMW, Chapter 9
Midterm Review: 2 April
Midterm 1: 4 April.
Topic IV. Policy, Dynamics and Organization
● 11-16 April: Trade and Capital Restriction
■ BGMW, Chapter 10
●18-23 April: Globalization and Economic Growth
■ BGMW, Chapter 11
●25-30 April: Nations and Organizations
■ BGMW, Chapter 12
Topic V. Big Questions
● Globalization, Is It Really Happening
■ BGMW, Chapter 13
Final Examination: 6 May 2007, 1:00-5:00pm
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