Expert answer:International Trade
Expert answer:Please check the attached document and make a 4 page write up and a small excel file. Everything is in the attached. thanks in advance
econ320_syllabus.doc
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MASTER SYLLABUS
ECON 320: INTERNATIONAL ECONOMICS AND FINANCE
1. Course Details
Semester:
Fall 2017
Course Code: ECON 320
Course Name: International Economics and Finance
Course Prerequisites: ECON105; ECON110; QANT201
Course Co-requisites: None
Credits Hours: Three (3) credit hours
Classroom:
Class Timing: (45 contact + 2 hours final exam period)
Final Exam Period:
2.
Instructor Details
Professor: Tunch Ozelli
Office Location: 26W 61 Rm 310
Office Hours: 12: 45 to 3:45 Tuesday & Thursday or Call or E mail for appointment
Email: tozelli@nyit.edu
Course website:
Phone (Office): 212-261-1588
3. Catalog Course Description
The course provides the conceptual framework that forms the basis for global
commerce. Topics include free trade, the flow of goods and services,
investments, balance of payment, and the International Monetary System and the
foreign exchange markets in the context of alternative international
adjustment mechanisms.
4. Course Overview
The objective of the course is to make a serious presentation of international
economic theory with an emphasis on current applications so that students
understand the determinants of trade flows and exchange rates. In recent
years, trade and capital flows have been liberalized and allowed to grow
resulting in an increasing globalization of production and trade. This has
particular importance to emerging markets and developing countries. The
resulting interdependence of countries both in goods and services has resulted
in lower prices of internationally traded goods and services.
5. Course-Level Learning Goals
(A) Invariant Learning Goals (In support of the Major-Specific and BSBA
Programmatic Learning Goal(s)) :
Upon the successful completion of this course, the student will be able to:
1. Evaluate the comparative advantage of a country (A1a);
2. Apply foreign exchange dynamics and test it in a real world situation using
statistical methodology (A1b);
3. Examine the dynamics of the international trade environment (A2); and
4. Analyze the functions and responsibilities of internationals trade and
financial institutions, such as, WTO and IMF (A2).
Assurance of Learning Validations (Linked to the Major-Specific and BSBA
Programmatic Learning Goal(s)) :
A1. Individual Written Homework Portfolio:
a. Each student selects a country and identifies (a) its major trading
partner(s) and (b) major commodities or services in which they trade and (c)
apply that information to analyze comparative advantage of that country.
Presentation of data is through productivity software such as Excel, and must
also include a four page write up. Five scores will be administered and are
based on (a) the conciseness of the executive summary that includes a brief
background of the country, the commodities and services that they trade, their
trading partners, and the comparative advantages (G1O1); (b) the ability to
secure data from data sources (listed in section 8) (M2O1) and (c) analyze and
interpret the data (M2O2), and (d) identify the comparative advantage of the
chosen trading partner (INTL-LO2), and (e) specific identification of factors
of globalization that provide a comparative advantage relative to what would
be achieved without international trading opportunities (G3O2).
b. Each student collects quarterly data for 3 years on inflation differentials
and income growth differential for two countries and applies a regression
model to forecast a country?s currency exchange value. (The quarterly
percentage change is used as the dependent variable; and the percentage change
in inflation differential for two countries and the income growth differential
between the two form the two independent variables, which are lagged one
period). To understand how exchange value of a country?s currency is
determined against another currency a two page paper and Excel spreadsheets
must be submitted, including the model and its analysis. Three scores are
administered and are based on (a) the model development and solution,
significance of the statistical outcomes, and exploration of the impact that
changes in the independent variables have of that outcome (M2O2); (b) the
appropriate use of Excel and its data analysis and function tools to generate
the appropriate outputs (M2O3); and (c) the substantive quality of the
summary, including model interpretation of the outcomes in the global
environment (G3O1).
A2. Group Homework: Student groups will be assigned, and each group will
collaborate to create a short paper for one of the topics, below. The
instructor will allocate the projects to the groups.
a. Collect data for the most recent ten years on the GDP and exports of South
Korea, Hong Kong, China, and Singapore and explain how the export centered
policies of these nations has led to their high economic growth rates;
b. Choose a country which required IMF assistance in the past five years and
provide data with reference to that (a) country?s fiscal deficit, (b) trade
deficit (c) its internationals debt position and the conditions imposed for
such assistance; or
c. Identify the role of the WTO as a forum for resolving trade disputes among
countries. Cite a specific complaint by a country with data, and discuss how
it was adjudicated by the WTO and the response to the ruling by the countries
involved.
The short paper will receive two scores, based on the team ability to (a)
identify relevant data (M3O1); and (b) integrate the data into a cohesive
analysis that discusses environmental factors and their impact on the economic
decision-making approaches of the country or its intervening agent (INTL-LO1).
(B) Contextualized (Globalized) Learning Goal(s):
Upon the successful completion of this course, students will be able to:
1. See Invariant Learning Goals 1 and 2 above.
Assurance of Learning Validation (In support of the Contextualized
(Globalized) Learning Goal(s)):
B1. See Assurance of Learning Validation A1(a), score 3, and A1(b), score 4,
above.
(C) Instructor Specific Learning Goal(s) (Optional):
None
Assurance of Learning Validation (In support of the Instructor Specific
Learning Goal(s)):
None
6. Teaching and Learning Methodology
The School of Management?s teaching and learning strategy is informed by
contemporary indicators/sources that derive from its target market,
specifically the millennial generation. In particular, behavioral traits for
this generation are identified and form the basis of emphasis for the schools?
teaching and learning methodologies. These methodologies are reflected in the
school?s mission statement by way of its TEMPOS campaign . In addition,
teaching and learning strategies are informed by institutional indirect
assessment results, periodically collected and reviewed by the Office of
Planning and Assessment and the school?s faculty . Teaching and learning
strategies are also externally referenced systematically (e.g., the Annual
Stakeholder?s Conference) through continuing consultations with non-board key
stakeholder groups, including employers, business and community leaders,
accreditation and ministerial agencies, alumni, students, peer institutions,
and business and governmental agency representatives.
A component of all courses, as a part of the teaching and learning strategies,
is to maintain academic rigor and to be intellectually challenging. This is
validated in institutional survey results. However, School of Management
faculty members utilize an overall collective portfolio of
strategies/initiatives that obtain from the aforementioned sources in
delineating those that are most appropriate or emphasized in the courses they
lead.
In this course (ECON320), four (4) prioritized teaching and learning
strategies focus on:
1. in-class interaction;
2. integrating international/global perspectives;
3. faculty-student interaction; and
4. innovative and creative thinking.
All faculty members that instruct this course should consider how to execute
the course to emphasize these key components of the strategies considered.
Following a review of learning outcomes, faculty members consider how
re-orientation of teaching and learning strategies might result in
strengthening these outcomes, and adjustments are made, accordingly. Faculty
members also consider how the School of Management Triple Platforms of
Excellence (Professional Enrichment, Experiential Education, and Student
Advancement) might be leveraged as a part of this strategy, and provide
recommendations to the Directors of those platforms. The school also reviews
the distribution of identified teaching and learning strategies periodically
to ensure comprehension and the integration of each (from the designated list
of approximately 20-25 strategies) within the curriculum. Finally, results
from student teaching evaluations also provide indications of how various
teaching and learning strategies are integrated into the course delivery. The
following issues (indicator number is provided) are among those in the
evaluations that bear on this review and analysis:
7. The amount of work in this course was appropriate.
15. The instructor was available for course related consultation and advice.
17. The instructor assigned challenging course work.
18. The instructor graded and returned student work and exams promptly.
19. The instructor provided helpful, constructive feedback on assignments and
course work.
20. The instructor respected cultural differences and diversity among
students.
21. The instructor incorporated information technology (e.g. computer or the
Internet) in the course.
25. The instructor challenged me to think.
Along with teaching and learning strategies, the notion of student effort/time
on task is also considered, although it is not necessarily driven by metrics.
It is noted that the notion of student effort, specifically metric driven, is
not a universally adopted approach . However, if an instance occurs where
student learning outcomes do not meet targeted academic standards, the School
of Management utilizes indirect inputs in this area to explore the
interdependencies between factors including the amount of work required in the
course, the degree of challenge in the coursework, and level of critical
analysis, among others .
7. Required Resource(s)
Carbaugh, Robert J. (2009). International Economics. 12th edition
Southwestern. ISBN ? 13: 978-0-324-58148-5.
8. Reference Resource(s)
Salvatore, D. (2010). International Economics. 10th Edition. Wiley. ISBN:
9780470388341.
Krugman, Paul and Obstfeld, Maurice. (2009). International Economics. 8th
Edition. ISBN: 9780321493040.
OECD Statistical yearbook
Eurostat
World Bank: World Development Indicators
World Development Report
IMF World Economic outlook
IMF International Financial Statistics
Global Financial Data
U.S. Department of Commerce, Bureau of Economic analysis, Survey of Current
Business.
U.S. International Trade commission
WTO International Trade Statistics
WTO Annual Trade Report
Institute of Management Development
9. Assessment Methodology and Grading Guidelines
Instrument Points Time on Task
Individual Homework (see A1) 25 points
30 hours
Group Homework (see A2) 30 points
30 hours
Quizzes 45 points
60 hours
TOTAL 100 points 120 hours
10. Grading Guidelines: The final grade for the course will be calculated
using international grading scale:
11. Attendance Policy: Students are expected to attend every class session.
Instructors will inform students of the exact number of absences and
late-arrivals permitted during the semester. Students who exceed these limits
may be subject to failure. If a student misses any class or test, the
instructor has the right to either grant or deny an opportunity to make up the
work that was missed. In such cases, the instructor shall be the sole judge of
the validity of a student’s explanation for having missed the class or test.
12. Deductions for Late Arrival, Early Departure, and Unexcused Absences:
13. Policy for Make-Up Assignments or Quizzes:
14. Classroom Behavior: Behavior that disrupts, impairs, interferes with, or
obstructs the orderly conduct, processes, and functions within an academic
classroom or laboratory violates the student code of conduct and may result in
disciplinary action. This includes interfering with the academic mission of
NYIT or individual classroom or interfering with a faculty member?s or
instructor?s role to carry out the normal academic or educational functions of
his classroom or laboratory, including teaching and research.
15. Students with Physical or Educational Challenges:
?
It is the policy of New York Institute of Technology to provide reasonable
accommodations for students who are otherwise qualified but have disabilities,
including learning disabilities, health impairments, and other disabling
conditions. Possible accommodations include, but are not limited to, test
schedule modifications, class relocation, and possible assistance in
acquisition of necessary equipment.
?
The college has an interest in helping students with disabilities to be
competitive in this academic environment. Therefore, reasonable accommodations
will be made upon proof both of disability and need for the accommodations. It
must be understood that accommodations are meant to facilitate educational
opportunities. Admission to NYIT and accommodations do not guarantee success.
Therefore, in addition to accommodations, the college encourages utilization
of auxiliary services available to all students to maximize opportunities for
success. Students whose disabilities may require some type of accommodation
must complete a request for accommodations form and an intake interview with
their campus services coordinator prior to the academic semester.
Accommodations maybe requested at any time during the semester; however,
accommodations cannot be applied to past failures, only to future academic
endeavors. Appropriate modifications of accommodations will be worked out on a
case-by-case basis and will not necessarily incorporate all requested changes.
?
Students for whom auxiliary services?such as readers, interpreters, note
takers, etc.?have been approved should arrange these with their campus
services coordinator. In addition to discussing appropriate educational
modifications, the campus services coordinator will serve as a liaison with
other college faculty and administration on behalf of students with
disabilities.
16. Academic Integrity:
?
Each student enrolled in a course at NYIT agrees that, by taking such
course, he or she consents to the submission of all required papers for
textual similarity review to any commercial service engaged by NYIT to detect
plagiarism. Each student also agrees that all papers submitted to any such
service may be included as source documents in the service?s database, solely
for the purpose of detecting plagiarism of such papers.
?
Plagiarism is the appropriation of all or part of someone else?s works (such
as but not limited to writing, coding, programs, images, etc.) and offering it
as one?s own. Cheating is using false pretenses, tricks, devices, artifices or
deception to obtain credit on an examination or in a college course. If a
faculty member determines that a student has committed academic dishonesty by
plagiarism, cheating or in any other manner, the faculty has the academic
right to 1) fail the student for the paper, assignment, project and/or exam,
and/or 2) fail the student for the course and/or 3) bring the student up on
disciplinary charges, pursuant to Article VI, Academic Conduct Proceedings, of
the Student Code of Conduct. The complete Academic Integrity Policy may be
found on various NYIT Webpages, including:
http://www.nyit.edu/images/uploads/academics/AcademicIntegrityPolicy.pdf.
17. 15 Week Topical Class Schedule
Week Topics Chapter
Wk 1 The International Economy and Globalization Ch. 1
Wk 2 Foundations of Modern Trade Theory: Comparative Advantage
Ch. 2
Wk 3 Sources of Competitive Advantage
Ch. 3
Wk 4 Tariffs Ch. 4
Wk 5 Non Tariff Trade Barriers
Ch. 5
Wk 6 Trade Policies for the Developing Nations
Ch. 7
Wk 7 Regional Trading Arrangements Ch. 8
Wk 8 International Factor movements and Multinational Enterprises Ch. 9
Wk 9 The Balance of Payments Ch. 10
Wk 10 Foreign Exchange
Ch. 11
Wk 11 Exchange Rate Determination Ch. 12
Wk 12 Exchange Rate Systems and Currency Crisis
Ch. 13
Wk 13 Exchange Rate Adjustments and the Balance of Payments Ch. 14
Wk 14 International Banking: Reserves, Debt, and Risk Ch. 15
Wk 15 Final Quiz/Team Presentation
18. Using the NYIT Library
All students can access the NYIT virtual library from both on and off campus
at www.nyit.edu/library. The same login you use to access NYIT e-mail and
NYITConnect will also give you access to the library?s resources from off
campus.
On the left side of the library?s home page, you will find the ?Library
Catalog? and the ?Find Journals? sections. In the middle of the home page you
will find ?Research Guides;? select ?Video Tutorials? to find information on
using the library?s resources and doing research.
Should you have any questions, please look under ?Library Services? to submit
a web-based ?Ask-A-Librarian? form.
…
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