TROY UNIVERSITY
MASTER SYLLABUS
SORRELL COLLEGE OF BUSINESS
ECO 6657
International Trade and Economics
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.
Master Syllabi are developed by the senior faculty in each business discipline. This Master Syllabus must be used as the basis for developing the
instructor syllabus for this course, which must also comply with the content specifications outlined in the Troy University Faculty Handbook.
The objectives included on this Master Syllabus must be included among the objectives on the instructor’s syllabus, which may expand upon the
same as the instructor sees fit. The statement of purpose seeks to position the course properly within the curriculum and should be consulted by
faculty as a source of advisement guidance. Specific choice of text and other details are further subject to Program Coordinator guidance.
1 August 2005
Master Syllabus: ECO 6657
2
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).
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 State University Faculty Handbook (2001): Section 3.8.2.8 [extract]—22 essential elements of the syllabus (somewhat modified for space):
a.
b.
c.
d.
e.
f.
g.
Course title
Course number
Term
Instructor
Prerequisites
Office hours
Class days, times
h.
i.
j.
k.
Classroom location n. Grading methods,
Office location
criterion weights,
Office telephone
make-up policy,
Course description,
mid-term grade
objectives
reports
l. Text(s)
o. Procedure, course
m. Other materials
requirements
p. General supports
r. Additional services u. Cheating policy
(computer works,
(Americans with
v. Specialization
writing center)
Disabilities Act,
requirements
q. Daily assignments,
other statements)
(certification,
holidays, add/drop s. Absence policy
licensure, teacher
& open dates, dead t. Incomplete-work
competencies)
day, final exam
policy