Master Syllabus 3
TROY UNIVERSITY
MASTER SYLLABUS
SORRELL COLLEGE OF BUSINESS
ECO 6657
International Trade and Economics
TROY UNIVERSITY SCOB MISSION STATEMENT
The Sorrell College of Business (SCOB) prepares a diverse student body, drawn primarily from Alabama and surrounding states, to become successful, ethical and engaged business professionals with the knowledge to compete in the global business environment.
To achieve this our faculty, staff, and administration will:
Provide quality undergraduate and graduate education in global business through high-quality teaching;
Serve the university and engage with business and professional communities in our primary service area through individual involvement and our centers for research and outreach;
Grow and enhance the longstanding “culture of caring” for our traditional, nontraditional, military, and international students; and
Contribute to the creation of knowledge, with a focus on the scholarship of application and integration, and teaching and learning, complemented by basic and discovery scholarship in select disciplines.
TROY UNIVERSITY SCOB VISION STATEMENT
The Sorrell College of Business strives to be a renowned teaching-focused business college graduating GEEKS ready to succeed in business and life.
Prerequisites
Graduate standing. All business foundation courses or equivalent.
Description
Principles and problems of international economics, trade theory, international payments, and monetary policies, economic integration, international economic institutions and policies, and contemporary developments in political economy.
Objectives
On completion of the course, the student should be able to:
1. Explain the theories of comparative advantage and factor proportions.
2. Explain why a country specializes in producing certain products and services.
3. Explain the Heckscher-Ohlin theory of factor proportions and how this theory can explain international trade patters.
4. Use production possibility and indifference curves to predict specific terms of trade.
5. Apply the concept of “immiserizing growth” to the trading activities of lesser developed and developing nations.
6. List and describe basic tariff and non-tariff barriers to trade.
7. Analyze tariff and quota policies using the standard tools of consumer, producer, government and taxpayer surplus analysis.
8. Show the winners and losers from tariff and quota policies.
9. Understand the various degrees of economic integration (trade blocs) and the trade implications of common markets.
10. Describe and explain the development of the EU, NAFTA, Mercosur, and the Andean Pact.
11. Explain how a nation’s balance of payments is determined.
12. Compute the value of one currency in terms of another in a foreign-exchange market.
13. Explain the purchase price parity theory of long-term exchange rates.
14. Explain the political and economic roles of the IMF, World Bank, GATT, and WTO.
15. Apply international trade and economics strategies to business objectives in an apt scenario.
Purpose
To present the micro- and macroeconomic aspects of international trade analysis, introduce the functions and policies of international institutions, and analyze trade blocs. The microeconomic aspects of international trade explain why countries facilitate or hamper trade. Macroeconomic aspects examine foreign-exchange markets. MSM International Management concentration specified elective. MBA unspecified elective (non-Accounting).
Required Activity
This course must contain a student engagement activity with the community that relates to course content. The activity may include guest speakers, site visits, projects for the community/industry, etc…
Approved Texts
Gerber, J. (current). International economics (current ed). Boston, MA: Addison-Wesley.
Sawyer, W. C., & Sprinkle, R. L. (current ed). International economics. Upper Saddle River, NJ: Prentice Hall.
Yarbrough, B. V., & Yarbrough, R. M. (current ed). The world economy: International trade (7th ed.). Mason, OH: Thomson/South-Western.
Supplements
King, P. G., & King, S. K. (current). International economics and international economics policy: A reader. Boston, MA: McGraw-Hill.
Ricardo, D. (2004). The principles of political economy and taxation. Mineola, NY: Dover. Reprint of the 1817 edition.
Troy University Faculty Handbook (2016): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):
1. Course title2. Course number + section
3. Term
4. Instructor
5. Prerequisites
6. Office hours
7. Class days, times / 8. Classroom location
9. Office location + e-mail address
10. Office telephone
11. Course description, objectives
12. Text(s) / 13. Other materials
14. Grading methods, criterion weights, make-up policy, mid-term grade reports
15. Procedure, course requirements / 16. General supports (Computer Works, writing center)
17. Daily assignments, holidays, add/drop & open dates, dead day, final exam / 18. ADA statement
19. Electronic device statement
20. Additional services, statements
21. Attendance/
Absence policy / 22. Incomplete work policy
23. Cheating policy
24. Specialization requirements (certification, licensure, teacher competencies)