TROY UNIVERSITY
MASTER SYLLABUS
SORRELL COLLEGE OF BUSINESS
ECO 4451
International Trade
Prerequisites
ECO 2252.
Description
Principles underlying international trade and international finance.
Objectives
On completion of the course, the student should be able to:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Explain why countries trade with each other
Enumerate and compare the various theories of International Trade.
Explain who wins and who loses from trade.
Describe the relation between International trade and the Growth process.
List and describe basic tariff and non-tariff barriers to trade.
Analyze tariff and quota policies using consumer, producer, government, and taxpayer
surplus analysis.
Describe and explain the development of the GATT/ WTO and regional trading blocks.
Explain how a nation’s balance of payments is determined.
Explain the determination of exchange rates in the long run, via the Purchasing Power
Parity theory, and in the short run.
Explain fixed and floating exchange rate regimes, their implications for domestic policies
and the possibility of crises.
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. Required for Global Business major and Economics
major (Financial Economics Concentration).
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.
19 April 2011
Master Syllabus: ECO 4451 (Revised August 2013)
2
Approved Texts
Carbaugh, R. (current). International Economics. South-Western/Cengage.
Gerber, J. (current). International Economics. Addison-Wesley.
Pugel, T. (current). International Economics. McGraw-Hill.
Eichengreen, B. (current). Globalizing Capital: A History of the International Monetary System.
Princeton University Press.
Irwin, D. (current). Free Trade Under Fire. Princeton University Press.
Roberts, R. (current). The Choice: A Fable of Free Trade and Protectionism. Prentice Hall.
Rajan, R. (current). Fault Line. Princeton University Press.
Supplements
As deemed appropriate.
Troy University Faculty Handbook (2010): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):
1. Course title
2. 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, 16. General supports
criterion weights,
(computer works,
make-up policy,
writing center)
mid-term grade
17. Daily assignments,
reports
holidays, add/drop
15. Procedure, course
& open dates, dead
requirements
day, final exam
18. ADA statement
19. Electronic device
statement
20. Additional
services,
statements
21. Absence policy
22. Incomplete-work
policy
23. Cheating policy
24. Specialization
requirements
(certification,
licensure, teacher
competencies)