IRC 030 INTERNATIONAL ECONOMICS (GSIS) Fall 2017 Innwon Park Professor of International Economics Division of International Studies Korea University This course focuses on basic topics in International Trade Theory and Policy. Critical and analytical thinking about various topics and understanding of how they related to the every day lives of the people in the world constitute the overall goal of the course. Students are expected to develop working knowledge of various theoretical methods and practical issues in international commerce.
LECTURE HOURS AND VENUE 2:00-4:45 pm on Tuesdays TBA, International Studies Hall * Notices and lecture materials will be found at Blackboard.
OFFICE AND CONTACT NUMBERS Office Hours: 1:30~3:00 pm on Mondays Room 537, International Studies Hall Tel: (02) 3290-2406 Email: [email protected]
Participation (10%) Mid-term Examination (30%) Group Presentation (30%): Evaluated by Student (15%) and Instructor (15%) Final Examination (30%)
TEXT BOOK Dominick Salvatore, International Economics: Trade and Finance, 11th edition, John Wiley & Sons Inc., 2013.
Part I. International Trade Theory (Lecture) Introduction (Chapter 1) Basis for Trade/Gains from Trade/Terms of Trade/Pattern of Trade (General)
The Law of Comparative Advantage (Chapter 2) The Standard Theory of International Trade (Chapter 3) Demand and Supply, Offer Curves, and the Terms of Trade (Chapter 4)
Sources of the Bases for Trade and the Gains from Trade
Factor Endowments and the Heckscher-Ohilin Theory (Chapter 5): Inter-industry Trade Economies of Scale, Imperfect Competition, and International Trade (Chapter 6)
Effect of Economic Growth on International Trade (Chapter 7)
Part II. International Trade Policy (Lecture) Trade Restrictions (Commercial Policies)
Trade Restrictions: Tariffs (Chapter 8) Nontariff Trade Barriers and the New Protectionism (Chapter 9)
International Economic Cooperation
Economic Integration: Customs Unions and Free Trade Areas (Chapter 10)
Trade and Economic Development
International Trade and Economic Development (Chapter 11)
Substitute for International Trade
International Resource Movements and Multinational Corporations (Chapter 12)
Part III. Practical Issues (Presentation) Group Presentation A group of students will present brief summary of an assigned topic for 25 minutes. Active discussion will be followed for 10 minutes. Every member of each group must participate in the group presentation as a speaker. Presentation should cover both theoretical analysis and at least a case study. Every group should submit a brief summary (4-5 pages including references) of its presentation a week before the assigned date.
Recommended Topics for Group Presentation 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
Aids for trade Is regionalism stepping stone or millstone to multilateralism? Economic integration: the deeper the better? Free trade with whom? Muitilateralizing regional trade agreements Regional trade agreements and production network Regional trade agreements in services Regional trade agreements and productivity Socio-political determinants of the formation of regional trade agreements Currently proliferating protectionism