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ECO 410: Global Economics

Course Description

This course examines the global economy. Specifically, this course analyzes how the international economy is integrated; assesses the effectiveness of different trade organizations such as the WTO; examines the theory of comparative advantage and the modern trade theory; analyzes intra-industry trade; analyzes the impact of protectionism such as tariffs on global trade. The course also examines the impact of international trade on labor and the environment; the balance of payments; exchange rates and the exchange rate systems; open economy macroeconomics; past international financial crises; NAFTA, and the impact of the European Union on the global economy.

Prerequisites

  • ECO 103: Macroeconomics
  • ENG 101: English Composition 1
  • ENG 102: English Composition 2

Student Learning Outcomes (SLOs)

Upon completion of this course, the student will be able to:

  1. Describe how the international economy is integrated
  2. Assess the effectiveness of the IMF, the World Bank, and the WTO
  3. Explain comparative advantage and the gains from trade
  4. Examine the modern trade theory
  5. Analyze intraindustry trade
  6. Judge the impact of tariffs on global trade
  7. Predict the impact of protectionism in the European Union, Japan, and the U.S
  8. Describe the impact of international trade on labor and the environment
  9. Describe the balance of payments
  10. Analyze exchange rates and the exchange rate systems
  11. Describe and critique open economy macroeconomics
  12. Describe past international financial crises and predict, if any, future ones
  13. Describe economic integration in North America and the impact of NAFTA
  14. Examine and assess the impact of the European Union on the global economy
  15. Analyze the impact of China and India on the world economy

General Education Outcomes (GEOs)

Please check the applicable GEOs for this course, if any, by outcomes at GEO Category Search, or by subject area at GEO Discipline Search.

Course Activities and Grading

Assignment(s)
Points
Weight

Discussion Board Assignments (Weeks 1-7)

210

21%

Written Assignments (Weeks 1-7)

210

21%

Research Paper (Week 7)

120

12%

Midterm Exam (Week 4)

230

23%

Final Exam (Week 8)

230

23%

Total

1,000

100%

Required Textbooks

Available through Charter Oak's online bookstore

  • Gerber, James (2014). International Economics (6th Edition). Pearson. ISBN-10: 0-13-294891-5 or ISBN-13: 978-0-13-294891-3

Course Schedule

Week

SLOs

Readings and Exercises

Assignment(s)

1

1,2

  • Topic: International economic integration
  • Chapter 1 
  • Topic: The IMF, the World Bank, and the WTO
  • Chapter 2
  • Read the assigned chapters
  • Review the lecture material
  • Make high-quality posts to each chapter’s Discussion Board
  • Submit your written assignment: Questions 1-5 at the end of each chapter

2

3,4

  • Topic: Comparative advantage and the gains from trade
  • Chapter 3
  • Topic: Modern trade theory
  • Chapter 4
  • Read the assigned chapters
  • Review the lecture material
  • Make high-quality posts to each chapter’s Discussion Board
  • Submit your written assignment: Questions 1-5 at the end of each chapter
3

5,6

  • Topic: Intraindustry trade
  • Chapter 5
  • Topic: Tariffs
  • Chapter 6
 
  • Read the assigned chapters
  • Review the lecture material
  • Make high-quality posts to each chapter’s Discussion Board
  • Submit your written assignment: Questions 1-5 at the end of each chapter

4

7,8

  • Topic: Protectionism in the European Union, Japan, and the U.S.
  • Chapter 7
  • Topic: International trade’s impact on labor and the environment
  • Chapter 8
  • Read the assigned chapters
  • Review the lecture material
  • Make high-quality posts to each chapter’s Discussion Board
  • Submit your written assignment: Questions 1-5 at the end of each chapter
  • Take the Midterm Exam

Midterm Exam
Chapters 1, 2, 3, 4, 5, and 6
SLOs 1, 2, 3, 4, 5, and 6

5

9,10

  • Topic: The balance of payments
  • Chapter 9
  • Topic: Exchange rates and the exchange rate systems
  • Chapter 10
  • Read the assigned chapters
  • Review the lecture material
  • Make high-quality posts to each chapter’s Discussion Board
  • Submit your written assignment: Questions 1-5 at the end of each chapter

6

11,12

  • Topic: Open economy macroeconomics
  • Chapter 11
  • Topic: International financial crises
  • Chapter 12
  • Read the assigned chapters
  • Review the lecture material
  • Make high-quality posts to each chapter’s Discussion Board
  • Submit your written assignment: Questions 1-5 at the end of each chapter

7

13,14,15

  • Topic: Economic integration in North America
  • Chapter 13
  • Topic: The European Union
  • Chapter 14
  • Topic: China and India
  • Chapter 17
  • Read the assigned chapters
  • Review the lecture material
  • Make high-quality posts to each chapter’s Discussion Board
  • Submit your written assignment: Questions 1-5 at the end of each chapter
  • Submit your research paper on an analysis of the U.S. economy and China’s economy. Also, answer these questions: How does the U.S. economy compare with China’s economy?  Do you anticipate that China’s economy will be larger than the U.S. economy within the next 10 years?  Why or why not?

8

Final Exam
Chapters 7, 8, 9, 10, 11, 12, 13, 14 & 17
SLOs 7-15

COSC Accessibility Statement

Charter Oak State College encourages students with disabilities, including non-visible disabilities such as chronic diseases, learning disabilities, head injury, attention deficit/hyperactive disorder, or psychiatric disabilities, to discuss appropriate accommodations with the Office of Accessibility Services at OAS@charteroak.edu.

COSC Policies, Course Policies, Academic Support Services and Resources

Students are responsible for knowing all Charter Oak State College (COSC) institutional policies, course-specific policies, procedures, and available academic support services and resources. Please see COSC Policies for COSC institutional policies and the “Course Policies” link for specific policies related to this course. COSC Resources information regarding available COSC academic support services and resources.