EC 410
Summer 2014
International Economics
Syllabus
INTERNATIONAL ECONOMICS
EC 410 A
Course Syllabus
SUMMER 2014
Instructor:
Dmitri Nizovtsev
Office: 310N in Henderson Center
(785) 670-1599
Phone:
E-mail: dmitri.nizovtsev@washburn.edu
9:15 am – 10:50 am
Meeting Time:
T W R
HC 304
Office Hours:
T W
Required Text:
Feenstra and Taylor, Essentials of International Economics, 2nd ed.
Prerequisites:
EC 200, EC201, and 54 hours*.
11 am – noon + Open door policy
Course Description:
The theory of international trade and the mechanics of foreign exchange markets. Costs and benefits of international
economic interdependence. Discussion of current problems in international trade and monetary policy.
Course Objectives:
Students successfully completing this course will be able to:
1. Demonstrate familiarity with the terminology adopted in international economics;
2. State the principle of comparative advantage and explain its implications (pattern of trade, terms of trade,
gains from trade);
3. List trade policy instruments and explain their effects on nations’ welfare;
4. Analyze causes and effects of exchange rate variations and apply that knowledge to the analysis of current
issues in international finance;
5. Explain the impact of the global economy on business conduct and performance as well as the effects of
business actions on the global economy;
6. Demonstrate the ability to think critically and objectively by relating current issues in international
economics to the material learned in class.
Grading:
Grades will be assigned on a (partial) curve based on students’ weighted scores at the end of the semester. The
cutoffs for A, B, C, and D I usually use on the curved scale are 90, 80, 70, and 60, respectively. The components of
the final score are as follows:
HW assignments: 20% of the total overall score.
Two midterm exams: 20% of total overall score each, for a total of 40%.
Debates participation: 10% of the total overall score.
Final exam (comprehensive): 30% of final score.
Test scores are the only grade component that will be curved.
The grade appeal procedure can be found on pp. 65-66 of the Washburn University 2013-2014 Catalog.
* It is the responsibility of the student to meet all prerequisite requirements for courses in which the student is
enrolled. A student failing to meet prerequisite requirements is subject to administrative withdrawal from the course
at any time.
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EC 410
Summer 2014
International Economics
Syllabus
Expected Workload:
This course is worth three credit hours. For every credit hour awarded for a course, the student is typically expected
to complete approximately one hour of classroom instruction, online interaction with course material, or direct
faculty instruction and a minimum of two additional hours of student work each week for approximately 15 weeks
for one semester or the equivalent amount of work over a different amount of time.
Homework:
Over the course of the semester, there will be several homework assignments. Late homework is accepted, but for
partial credit only. Solutions to the assignments will be discussed in class or posted on the class Web page.
Debates:
Over the course of the semester, there will be three debates on current issues in international economics or
international economic policy. Topics and format guidelines will be provided to you separately.
Examinations:
There will be two midterm exams (one take-home, due on June 17th, and the other given in class on July 2nd) and a
comprehensive final exam on the last day of class, July 17th.
The exact topic coverage for each test will be discussed at a later point. Answering test questions may involve
plotting graphs and performing calculations. You are allowed to use your own calculators.
Make-up Policy:
Normally, no make-up tests are given. The most I can do is discuss a possibility of redistributing the weights of your
final score in the case when you have to miss a test due to significant unforeseen circumstances. Even that is
possible only if I have been informed about your absence in a timely manner (before the test, preferably, or within
hours after the test).
Any official documentation that may serve as an explanation for missing a test is appreciated.
Attendance:
According to the university policy, all students are expected to attend all class meetings. While I am not going to
take attendance, I reserve the right to issue warnings and take action. Naturally, each student is personally
responsible for learning the material covered during the class period that was missed.
Bonus points:
For every class except test days, one student will be asked to prepare and conduct a three-question trivia quiz based
on current world economic events. Doing so will be rewarded with two points of extra credit on a hundred point
scale. Student(s) providing the largest number of correct answers over the semester will earn two more points. Those
points will be added to the total aggregate scores at the end of the semester and will not affect the grade curve.
Feedback:
My office hours are listed above. Coming to see me during those hours will probably work the best. However, you
can also make an appointment to come see me at any other time, or just drop by when my office door is open.
Since every class is different, it may be necessary for me to adjust course content and difficulty on the fly.
Please view the course outline provided below as tentative. Also, I am very willing to hear your comments about the
way the class is taught: are we going too fast or too slow, covering too much or too little ground, do you find the
difficulty level appropriate for you? If you are uncomfortable discussing these issues in person, you can do it
anonymously using a link on the class Web page (see below).
Your Washburn University e-mail address will be the official address used by the University for relaying
important messages regarding academic and financial information and the University will consider this your official
notification for important information. It may also be used by your instructors to provide specific course
information. If you prefer to use an alternate e-mail address to receive official University notices, you can access
your MyWashburn e-mail account, choose the "Options" tab, and select "Settings", scroll to the bottom of the
screen, click enable forwarding and enter the e-mail address you would like your Washburn emails forwarded to in
the “mail forwarding” area. Click add and the click on save changes. This will complete the process of forwarding
your Washburn e-mail. It is your responsibility to ensure that your official e-mail box does not exceed your
message quota resulting in the inability of e-mail messages to be accepted into your mailbox.
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EC 410
Summer 2014
International Economics
Syllabus
Class Participation:
Everyone is strongly encouraged to ask questions and make comments during the class. I hope you will soon
discover it is in your best interest to do so as it helps you understand the material covered.
Web page:
The Web page for this class is located at www.washburn.edu/sobu/dnizovtsev/Econ410.html. There, I am going to
post assigned readings, homework assignments and answers to them, your current scores, and other materials that
can aid you in learning.
Once the page is up and running, you will be able to access it by typing its URL directly in the address field of
your browser (bookmarking the page on your personal computer may be a good idea) or through MyWashburn (in
that case, choose the “MyCourses” tab, then “EC410”, then “Links” in the menu on the left).
Withdrawal Policy:
During fall and spring semesters, students may withdraw from full semester courses through the second week of
class with no recorded grade. From the third through the eleventh week a “W” is recorded for any dropped course.
Beginning with the start of the twelfth week, there are NO withdrawals, and a grade will be assigned for the course.
Although it is the student's responsibility to initiate course withdrawals, an instructor, after due notice to the
student, may request withdrawal of the student from a course because of nonattendance through the same date as the
last day a student may withdraw from a course. This would NOT absolve the student of financial responsibility for
tuition/fees for the course in question. The inclusion of this information in the course syllabus is considered due
notice.
Success Week:
Success Week for undergraduate students is designated as the five week days preceding the first day of scheduled
final examinations each Fall and Spring semester. It is intended to provide students ample opportunity to prepare for
final examinations. For guidelines related to workload and assignments during Success Week, see
www.washburn.edu/sobu/dnizovtsev/successweek.pdf
Disability Services:
The Student Services Office (SSO) is responsible for assisting in arranging accommodations and for identifying
resources on campus for persons with disabilities. Qualified students with disabilities must register with the office
to be eligible for services. The office MUST have appropriate documentation on file in order to provide services.
Accommodations may include in-class note takers, test readers and/or scribes, adaptive computer technology,
brailled materials. Requests for accommodations should be submitted at least two months before services should
begin; however, if you need an accommodation this semester, please contact the SSO immediately.
Location: Student Services, Morgan Hall Room 135
Phone: 785-670-1629 or TDD 785-670-1025;
E-Mail: student-services@washburn.edu
Students may voluntarily identify themselves to the instructor for a referral to the Student Services Office.
Academic Misconduct Policy:
All students are expected to conduct themselves appropriately and ethically in their academic work. Inappropriate
and unethical behavior includes (but is not limited to) giving or receiving unauthorized aid on examinations or in the
preparation of papers or other assignments, or knowingly misrepresenting the source of academic work. Washburn
University’s Academic Impropriety Policy describes academically unethical behavior in greater detail and explains
the actions that may be taken when such behavior occurs. For guidelines regarding protection of copyright, consult
www.washburn.edu/copyright/students. For a complete copy of the Academic Impropriety Policy, contact the office
of the Vice President for Academic Affairs, Bradbury Thompson Alumni Center Suite 200, or go on-line to:
www.washburn.edu/admin/vpaa/fachdbk/FHsec7.html#VIII
Office of Academic Advising:
As a Washburn student, you may experience difficulty with issues such as studying, personal problems, time
management, or choice of major, classes, or employment. The Office of Academic Advising is available to help
students either directly through academic advising, mentoring, testing and developing learning strategies or by
identifying the appropriate University resource. If you feel you need someone with whom to discuss an issue
confidentially and free of charge, contact Academic Advising in Morgan 122, 785-670-1942,
advising@washburn.edu.
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EC 410
Summer 2014
International Economics
Syllabus
Proposed course outline (tentative and subject to change):
Class
Date
1
2
3
4
5
6
7
8
5/27
5/28
5/29
6/3
6/4
6/5
6/10
6/11
9
10
6/12
6/17
11-12
13
14
15
16
6/18-19
6/24
6/25
6/26
7/1
17
18
19
7/2
7/3
7/8
20
21
22
7/9
7/10
7/15
23
7/16
16
7/17
Topics covered
Overview of the course. Review of prior relevant topics
Ricardian model of trade
Specific factors model
Debate: Sweatshops
“Neoclassical” model of an economy and its insights.
Trade in the neoclassical model. Role of resource endowments.
Application: The U.S. steel market
Factor mobility and its effects
Debate: The U.S. immigration policy
Foreign direct investment. Trade and economic growth.
Midterm 1 due.
Imperfect competition and intra-industry trade.
Trade policy instruments – tariffs.
Trade policy instruments – quotas and subsidies.
Dumping practices and anti-dumping duties.
Political economy of trade policy. Trade and environment.
International trade agreements and WTO. Forms of economic
integration.
Midterm 2.
Exchange rates – the basics.
Exchange rates – the asset approach.
Interest parity condition.
Foreign exchange market and money market
Debate: Exchange rates regimes.
Balance of payments.
Exchange rates regimes.
International capital markets and currency crises.
Application: Global contagion
Final test
Reading
assignment
Ch.1,2
Ch.2
Ch.3
Ch.4
Ch.4
Ch.5
Ch.5, Class notes
Ch.6
Ch.7,8
Ch.7,8 + handouts
Ch. 8
Ch.9
Ch.9
Ch.10
Ch.10, 12
Ch.11,12
Ch.13
Ch.15,
handouts
More specific reading assignments will be posted on the class Web page during the semester.
“Washburn University enriches the lives of students by providing opportunities for
them to develop and to realize their intellectual, academic, and professional potential,
leading to becoming productive and responsible citizens. We are committed to
excellence in teaching, scholarly work, quality academic and professional programs,
and high levels of faculty-student interaction. We develop and engage in relationships
to enhance educational experiences and our community.”
Washburn University Board of Regents, 2010
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