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IR545 – International Economic Problems

1.  Course Number:              EC/IR 545               Credits:  3         Contact hours: 45


2.  Course Title:                     International Economic Problems


3.  Pre-requisites:                   One economics course


4.  Course Description:

This course is designed to introduce students to the international economy with emphasis on post-war developments.  In this framework students study classical theories of trade; new trade theory; globalisation; finance and currency regimes; and models of economic growth.  Students make a class presentation on a chosen case study and write an essay on a theme related to the course.


5. Learning Outcomes

Upon Successful completion of this course, students will understand and be able to discuss and:


Discuss the character and interdependence of the world economyCoursework, exams
Compare and contrast classical and modern theories of international trade, investments and finance.Coursework, exams
Identify the main problems of the international economy-the global financial crisis, challenges facing the Least Developed Economies (LDCs), the Newly Industrializing Countries (NICs) and the Transitional Economies.Coursework, exams

6.  Basic Texts:

Title:                The World Economy, Trade and Finance, 6th ed

Authors:          Yarborough, B. and M

Publisher:        Howard W. Sams & Co, 2002

ISBN:              0324183291


7.  Additional Reading and Supplemental Texts:

Daniels, P.W. & Lever, W.F. Lever, The Global Economy in Transition,London, Longman, 1996. ISBN: 0135052645

Students are encouraged to use the SIU library resources.



8.  Mode of Delivery:

Classroom instruction. See Addendum for specific details.

9. Course Outline:


Topics Covered                                                                                   Academic Hours

Introduction to the World Economy                                                              5

Theory of International Trade                                                                         5

Protectionism                                                                                                  5

Monetary Regimes                                                                                          5

The Political Economy of Trade Policy and Borders                                     2.5

The Balance of Payments Account                                                                 2.5

Currency Markets and Exchange Rates                                                          5

Foreign Direct Investment, Multinationals and the World

Economy                                                                                                         5

Emerging Markets I:  The Newly Industrializing Countries                           2.5

Emerging Markets II:  The Transitional Economies                                       2.5

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