Global Economics, Econ 13
Mark McNeil
Spring 2012
Welcome to Global Economics. This course examines the institutions,
the economic theory, and some of the issues associated with international trade and global integration.
It first establishes the general theoretical basis for trade among countries- wealth. It
then reviews institutional structure in which trade takes place, these include international markets for goods and for financial assets, government actions as they relate to international trade and finance, and the international institutions like the IMF, World Bank, and the WTO. Finally, the course investigates some of the major problems and criticisms of international economic
integration. The course is very topical in that it will attend to many of the
issues that are currently of major consequence in the political arena: trade
restrictions, globalization, trade deficits, exchange rate management, and global financial crises. In short, the course is a combination of the major issues associated with the global economy and the economic theory associated with these issues.
Text and Readings. The primary book used in this course will
be Free Trade Under Fire, by Douglas A. Irwin, 3d ed.,
(ISBN: 9780691143156). This can be purchased at the IVC Bookstore, online at: http://press.princeton.edu/titles/9027.html, or you can purchase the eBook version on Amazon.
The second book we will read parts of is
Macroeconomics,
by Timothy Tregarthen & Libby Rittenberg. This book can be obtained for purchase or to read online for free at:
http://www.flatworldknowledge.com. Look for the "Find My Class" button at the top of the page, or,
http://www.flatworldknowledge.com/mmcneil/principles-economics-macro. This link takes you to the correct page.
Additionally, there will be assignments from other texts, online sources, or in-class hand-outs as the course progresses.
Grading. There will be 2 midterm examinations (50 points
each), homework assignments, quizzes or other assignments (100 points total),
and a comprehensive final examination (100 points). The mid-term examinations
and the final examination will be part multiple choice questions and part short
essays and problems. The quizzes will be multiple choice only. For every test
or quiz you will need to bring a Scantron form (one that has 5 possible answers,
a-e) and a simple calculator. You may not use cell phones, PDA’s, or fancy
calculators. When I calculate the grade, I drop the lowest 50 point test
score. Final grades will be assigned as follows: 90% or more of the total
points, A; 80% of the total points, B; 70%, C; etc. The diagram below
will help you keep track of your grades. Please keep all returned tests,
quizzes and homework for your records.
I strongly encourage you to do the following in this course:
1. Attend. You need to attend class because
you are responsible for what happens in the class – if a test or quiz is
announced or if something is handed out; because you need a complete set of notes
to study for tests or the final exam; because listening to the lectures is very
helpful in learning the material; and because the instructor gets lonely and feels
rejected when students do not attend the lecture.
2. Be Optimistic and Do the Work. Hard work
and perseverance are rewarded. There is no substitute for spending the time to
do the work. Success in an economics class is almost always the result of
hard work and a positive attitude. This material is manageable - I promise.
Stick with it.
3. Ask questions. If you have questions or
difficulties, ask. Ask questions in class, ask other students, ask me, or
go to the tutoring center in the library.
4. Relate the course material to the real
world. Since an economics course will help you understand your world much better,
feel free to raise questions about economic events that are taking place during
the semester.
5. Enjoy the process. Learning involves work
and is sometimes difficult, but it is also very satisfying and, in some strange
way, fun. Make it a positive experience.
LESSON 2 Patterns of International Production
Test 1, Lessons 1 & 2
LESSON 3 Trade Protection - Costs & Benefits
Test 2, Lessons 3-5
LESSON 6 Trade & Economic Development
LESSON 7 The World Trading System
a. A little history
b. Bretton Woods & GATT - round and round
c. The WTO
d. Health and safety issues
e. Regional trade agreements
Reading assignment: Chapters 7, Irwin
LESSON 8 Parity, Risk & Arbitrage
LESSON 9 Conclusions and Speculations
Final Examination
Martin Luther King, Jr. Holiday: Jan. 16
Last day to drop without a “W”: Feb. 14 (this is also the last day to select a credit/no credit option)
Lincoln/Washington Holiday: Feb. 17-20
Spring Break: Mar. 11-17
Last day to drop: Apr. 5
Final Exam Week: May 11-17
May 18: Commencement
Office number: BSTIC 210H-- Telephone: (949) 451-5313
-- e-mail: mmcneil@ivc.edu
Office Hours (please note that these are subject to change):
Mon-Wed 11-12:30
Tue-Thurs 12:30-1:30
The McNeil, Microeconomics web page address is: http://iserver.ivc.cc.ca.us/faculty/mmcneil/
About the Issue of Academic Honesty:
a. Any work you turn in must be your own. If you study and do your homework with
other students, you may work out the answers to the problems together, but when
you write your answers on the homework paper, it must be in your own words.
b. The penalties for any type of cheating are very severe, including dismissal
from the course with a grade of "F", probation, suspension, or expulsion
from the college. Please be sure to do your own work.
Mobile
phones must be turned off. No exceptions.
No cameras or recorders except with permission.
No laptops unless you talk to the instructor first.
The information on this syllabus is subject to
change over the course of the semester. Information about any changes will be
discussed with and provided to the class.
Please forward your student email account to your home account so that I can communicate
with you should the need arise.