International Economics: ECON 451 Summer I 2007: MTWRF 10:30-11:45 Room 440 Claudia Williamson Office 326 Office

Hours: MTW 12:00-1:15 or by appointment Phone: 304-293-7839 Email: Claudia.Williamson@mail.wvu.edu Text: International Economics, by Robert J. Carbaugh, 11th edition. In addition to the text, supplementary handouts and readings will be required. Pre-requisites: Econ 201 (Principles of Microeconomics) and Econ 202 (Principles of Macroeconomics) Course Objectives: The objectives of this course are to help you gain tools that will enable you to systematically think about issues in international economics. The course will cover three main areas in international economics: international trade, international finance, and international development. International trade will cover: development of trade among nations; theories of trade; policies, factor endowments, trends, and barriers to trade. International finance will cover: determination of exchange rates and open economy macroeconomics. International Development will cover basic development topics such as: the role of free trade, foreign aid, and institutions for economic growth and development. Assignments and Exams: There will be an exam after each section for a total of three exams. There will also be homework assignments throughout the semester. In addition, to the homework and exams, a research paper will be required that will be due at the end of the semester. Your grade will be determined as follows: Exams: Homeworks: Research Paper: Total 75% 15% 10% 100% (25% each)

Grading Policy: A B C D F 90 100 80 89 70 79 60 69 0 59

Make-up and Late Assignment Policy: Missing an exam will only be excused by West Virginia University excuses. A make-up exam will be arranged outside of class time by the instructor. If your homework or research paper is a day late you will receive half credit if its correct. Beyond that NO LATE ASSIGNMENTS WILL BE ACCEPTED UNDER ANY CIRCUMSTANCES. Grades of Incomplete: A grade of incomplete may be given out in case of extreme unforeseen emergencies, according to my discretion and in accordance with college/university guidelines. Poor performance during the semester is not a valid reason for an incomplete. Attendance Policy: Attendance is not mandatory. However, regular class attendance tends to result in higher grades and passing rate. If you miss a class for any reason it is your responsibility to be aware of all announcements made in class about test dates, assignment due dates, course content, test contents and other course information. I will check for attendance and those students whose grades are on the border line will be rewarded based on their attendance record. Days of Special Concern: WVU recognizes the diversity of its students and the needs of those who wish to be absent from class to participate in Days of Special Concern, which are listed in the Schedule of Courses. You should notify me by email by the end of the second week of classes or prior to the first Day of Special Concern, whichever is earlier, regarding Day of Special Concern observances that will affect your attendance. Other than that all students must abide by the attendance policy as stated above. I will make reasonable accommodation for tests that you may miss as a result of observing a Day of Special Concern. Statement of Social Justice: West Virginia University is committed to social justice. I concur with that commitment and expect to foster a nurturing learning environment based upon open communication, mutual respect, and non-discrimination. Our University does not discriminate on the basis of race, sex, age, disability, veteran status, religion, sexual orientation, color or national origin. Any suggestions as to how to further such a positive and open environment in this class will be appreciated and given serious consideration. If you are a person with a disability and anticipate needing any type of accommodation in order to participate in this class, please advise me and make appropriate arrangements with Disability Services (293-6700).

Policy on Academic Dishonesty: West Virginia University expects every member of its academic community to share the historic and traditional commitment to honesty and integrity. Academic dishonesty is defined to include but is not limited to the following: plagiarism; cheating and dishonest practices in connection with examinations, papers and projects; forgery, misrepresentation and fraud. Such behavior will not be tolerated and will be handled according to university guidelines (please refer to your Student Handbook for details).

Outline: This is a tentative outline for this course. All material may not be covered depending on time and the teachers discretion. Introduction: The International Economy and Globalization Part 1: International Trade Topics Why Countries Trade Sources of Comparative Advantage Tariffs Non-tariff Trade Barriers Trade Policies Regional Trading Arrangements Exam 1 (TBA) Part 2: International Finance Topics The Balance of Payments Foreign Exchange and Exchange-Rate Determination Exchange Rate Adjustments and Exchange Rate Systems Exam 2 (TBA) Part 3: International Development Topics International Trade and Growth The Effects of Foreign Aid Institutions and Development Anarchy and Development Exam 3 (TBA)