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     / HESP 2001: Tomsk

Course #2

International Economics: Inside the Global Economy

 

 

1.      Resource People

 

Dr. Francisco Melero (melerf@sage.edu)

Dr. John A. Tribble (tribbj@sage.edu)

Dr. Manijeh Sabi (sabim@sage.edu)

 

2.                Course Description

 

Many great challenges of today -- the imbalance between industrialized and developing countries; the trade deficits of even some industrialized nations; the formation of supranational entities (European Union), world migrations (legal and otherwise), the fluctuating of exchange rates -- are all of an international nature. The course provides instructors with strategies for teaching concepts in international trade at the intermediate level. The primary goal of this course is to show how these critical issues can be presented and analyzed in an understandable and rigorous way by a combination of lectures, videos presentations, and case studies. Participants will also be introduced to the following techniques a) tracing trade flows and identifying comparative/competitive advantage through the Harmonized Tariff Schedules; b) exploring the WEB to assess the impact on cultural differences on international trade practices and flows; c) a role-playing exercise on accession to the WTO. d) a documentary exercise pulling together the elements of regulation, tariffs, and finance for exporting goods to the U.S.

 

3.                Course Requirements and Schedule

 

The course will be offered over a five-day period. Both morning and afternoon sessions will develop teaching techniques for utilizing case studies. Each morning session will end with a 3-minute graded evaluation.

 

In the afternoon sessions participants will develop an outline of a case parallel to one discussed in class. Each participant will include these case outlines in their portfolio which will be evaluated at the end of the course.

 

The course will use the following teaching materials:

Text:

Robert J. Carbaugh International Economics (South-Western College Publishing, 2000) (IE)

Case Study Reader/Television Review Guide:

Robert J. Carbaugh Inside the Global Economy. A Case Study and Reader Guide (South-Western College Publishing, 1998) (ITGE)

Video Series:

Inside the Global Economy (The Annenberg/CPB Collection, 1994)

 

DETAILED PLAN - International Economics

 

DAY ONE

date: June 25, 2001

Morning Session

time: 9:30 to 12:30

 

topic(s): Trade: An Introduction

Protectionism

 

instructor(s): Dr. Francisco Melero and Dr. John A. Tribble

 

format: Lecture & case analysis

 

required reading:

ITGE Case Studies "IBM's shift to computer production." "Australian Mineral Exports' impact on car production."

ITGE Case Studies "French agricultural subsidies." "Voluntary export restraints on Japanese cars."

 

supplementary reading:

IE Chapters 1-2 "The International Economy; Foundations of Modern Trade Theory."

IE Chapters 5, 6 "Tariffs and Nontariff Barriers"

 

 

assignments: Morning evaluation.

Break

 

Afternoon Session

time: 2:30 to 4:30

 

topic(s):

Trade Policy

 

format: lecture and case analysis.

 

required reading:

ITGE Case Studies "The development of Airbus as an example of industrial policy:" "The Chilean wine industry and export promotion.".

 

supplementary reading:

IE Chapters 7,8 "Trade Regulations and Industrial Policies" "Trade Policies for Developing Nations."

 

assignments: Prepare an outline for a case parallel to French agricultural case for your own country.

Break

 

Other activities

Individual or small group instruction on exploring the WEB for trade opportunities.

 

 

DAY TWO

date: June 26, 2001

Morning Session

time: 9:30 to 12:30

 

topic(s): Trade Liberalization and Regional Blocks

Labor and Capital Mobility

 

instructor(s): Dr. Francisco Melero and Dr. John A. Tribble

 

format: lecture and case analysis

 

required reading:

IGTE Case Studies "The Canadian-U.S. Free Trade Agreement." "The entry of the U.K. into the EC and its impact on trade with Australia."

 

Supplementary reading:

IE Chapters 9, 10 "Regional Trade Arrangement" "International Factor Movements and Multinational Trade"

Pamela E. Lowry "Model GATT: A Role-Playing Simulation Course" Journal of Economic Education (Spring 1999), pp. 119-126.

 

assignments: Morning Evaluation

Break

 

Afternoon Session

time: 2:30 to 4:30

 

topic(s): Multinational Corporations

 

 

format: lecture and case analysis

 

required reading:

IGTE Case Studies "Direct investment by Ericsson in Hungary." "A comparison of the Smith-Corona and Brother Corporations."

 

assignments: : Prepare a case outline parallel Canadian-U.S. Free Trade for similar regional alliances of your own country.

Break

 

Other activities

Individual and group session on using the WEB to extract trade and economic data.

 

 

DAY THREE

date: June 27, 2001

Morning Session

time: 9:30- 12:30

 

topic(s): Fixed versus Floating Exchange Rates

Managing Currencies and Policy Coordination

 

instructor(s): Dr. Francisco Melero and Dr. John A. Tribble

 

format: lecture and case analysis.

 

required reading:

IGTE Case Studies "U.S. dollar fluctuations in the 1980s - Komatsu vs. Caterpillar." "Floating exchange rates and petrodollar recycling"

IGTE Case Studies "The Plaza Louvre Accords" "The cost to the U.K. of joining the European Monetary Union."

 

supplementary reading:

IE Chapters 12, 13, 14 "Foreign Exchange" "Exchange Rate Determination" "Balance of Payments Adjustments under Fixed Exchange Rates"

 

assignments: Morning Evaluation

Break

 

Afternoon Session

time: 2:30 to 4:30

 

topic(s): Exchange Rate, Capital Flight, and Hyperinflation

 

 

format: lecture and case analysis.

 

required reading:

IGTE Case Studies "Mexico" "Hyperinflation in Argentina"

 

supplementary reading:

IE Chapters 15, 16 "Exchange-Rate Adjustments and the Balance of Payments" "Exchange Rate Systems"

Denise Hazlett and Jeela Ganje "An Experiment with Official Parallel Foreign Exchange Markets in a Developing Country" Journal of Economic Education (Fall 1999) pp. 392-401.

 

assignments: : Prepare case outline simular to the Argentina case for one of the CIS countries.

Break

 

Other activities

Exploration of financial and investment data on the WEB.

 

 

 

DAY FOUR

date: June 28, 2001

Morning Session

time: 9:30 to 12:30

 

topic(s): Developing Countries

Economies in Transition

 

 

instructor(s): Dr. Francisco Melero and Dr. Manijeh Sabi

 

format: lecture and case analysis

 

required reading:

IGTE Case Studies "A comparison of trade development policies in South Korea and Sri Lanka" "Tanzania: the policies of aid versus trade"

IGTE Case Studies "Russia: the fate of state industries versus private entrepreneurs" "Poland: the transition process to a market economy - shock therapy"

 

Supplementary reading:

IE Chapter 17 "Macroeconomic Policy in an Open Economy"

 

assignments: Morning Evaluation

Break

 

Afternoon Session

time: 2:30 to 4:30

 

topic(s): The Environment

 

format: Lecture and case analysis

 

required reading:

IGTE Case Studies "The U.S. - Mexico Agreement on dolphin-safe tuna fishing." "The transnational implications of polluting along the Rhine River."

 

Supplementary reading:

David Alden "Role Play in Economics: Experience with Scripted Role Play in Environmental Economics" Journal of Economic Education (Spring 1999), pp 127-132.

 

assignments: : Prepare case outline similar to the Rhine River case for one of the following: the Aral Sea, the Black Sea, the Volga River, the Danube River.

 

 

 

 

DAY FIVE

date: June 29, 2001

Morning Session

time: 9:30 - 12:30

 

topic(s): The Evolving World Economy

 

instructor(s): Dr. Francisco Melero

 

format: lecture and case analysis

 

required reading:

IGTE Case Studies "The rise of the U.S. dominance of the global software market" "The rise of East Asia, particularly China, as an economic power"

 

assignments: Morning Evaluation

Break

 

Afternoon Session

time: 2:30 to 4:30

 

topic(s):

Synthesis Global Economic Problems

 

format: Seminar - Discussion

 

required reading:

IE Chapter 18 "International Banking: Reserves, Debt & Risk"

 

assignments: Prepare a case outline similar to rise of East Asia for the emergence of Central Asia.