ECON 2001 - ECON 2001 International Economics Course...

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ECON 2001: International Economics Course Support and Calendar Information So you have all key information available to you off-line, it is highly recommended that you print the following items for your reference: This Syllabus Term Calendar Schedule of Assignments Instructor and Course Support Info Course Number and Title ECON 2001: International Economics Credit Hours Five quarter hours Catalog Description This course covers the analytical frameworks and empirical data used to understand the increasingly dynamic world economy. Focus is on economic analyses that are of particular importance to business decision-makers in a global economy. This course also focuses on the economic conditions that impact firms’ decisions about capital allocation, pricing, and employment. Course Prerequisites MATH 1001: College Algebra BUSI 1001: Introduction to Business (See program admission requirements.) Learning Objectives Participants will: Analyze the current nature of international trade in goods and services. Evaluate the basic ideas of Classical comparative advantage, determine the gains from trade, and justify why trade will lead a country to specialize in production of its export goods. Analyze the different extensions of the Classical Ricardian model in order to demonstrate an understanding of the factors that influence international trade beyond the simple two-country, two- commodity labor requirement barter model. Evaluate the gains from trade using the more modern neoclassical theory of trade. Analyze the underlying bases for trade, paying particular attention to factor endowments, factor intensities, and the Heckscher-Ohlin theorem. Appraise the value of the Heckscher-Ohlin theorem’s various empirical tests as a predictor of trade patterns among countries. Evaluate how trade restrictions affect the net national welfare of a country. Differentiate between the various financial instruments used by countries to establish a comparative advantage when trading with other countries, and examine the effects that their use has on a country's economy. Present and assess various arguments for restrictions on international trade.
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Develop an overview of contemporary U.S. trade policy, focusing on the period from 1934 to the present. Differentiate between the different types of economic integration models. Distinguish between the nature, components, and functioning of the foreign exchange market, paying special attention to the links between foreign exchange markets and money markets. Compare and contrast the advantages and disadvantages of a fixed versus a flexible exchange rate. Assess the desirable features of an effective international monetary system and apply these ideas to the Bretton Woods system.
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ECON 2001 - ECON 2001 International Economics Course...

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