Eastwood's ECO486 Course Page

Class schedule:  

Addresses:            College of Business Administration (Building 70 McConnell Drive) Room 247;
NAU Box 15066, Flagstaff, AZ 86011-5066; office phone, (928)523-7353;
E-mail to John.Eastwood@nau.edu
Worldwide web -- http://www.franke.nau.edu/facstaff/eastwood-j/

Office hours:        Monday, Wednesday and Friday, 10:15 AM – 11:15 AM;
Tuesday and Thursday, 1:05 –2:05 PM;
also by appointment

Course Description: Economic theory as applied to international trade and finance, sources of comparative advantage, the benefits of trade including balance of payments analysis, theories of exchange rate determination, the international monetary system, costs and benefits of various exchange rate regimes, international cooperation, and the impact of various macroeconomic policies in an open economy setting.

Prerequisite: This class is open to juniors, seniors and graduates students who have satisfactorily completed both Principles of Microeconomics, ECO 284, and Principles of Macroeconomics, ECO 285 (or  equivalent courses). You should drop the class if you lack the prerequisite or a waiver. Waivers must be approved by your advisor and instructor.

Course Objectives: Upon completion of the course, students should be able to:

1.      Demonstrate an awareness of the role of economics in today’s world.

2.      Apply the principles of economics to explain current developments in world and national affairs.

3.      Apply economic reasoning to their lives.

Course Learning Outcomes: Upon completion of the course, students should be able to:

1.      Explain the various sources of comparative advantage and their implications for the patterns and direction of trade.

2.      Provide an overview of the history of trade policy and discuss current issues in that context.

3.      Analyze trade policies and illustrate their implications for world welfare.

4.      Summarize current issues and debates surrounding US trade policy.

5.      Elucidate the impact of exchange rates and exchange rate regimes on trade.

6.      Discuss the implications of global capital markets for world trade and welfare.

7.      Identify and evaluate the effects of various domestic macroeconomic policies on trade under various exchange rate regimes.

8.      Explain the role and importance of domestic government and institutions in a global economy.

Course Requirements: Students who complete this course with a passing grade typically spend two to three hours studying for every hour in class. Please bring your text and your calculator to class.

Text (required): Paul R. Krugman and Maurice Obstfeld, International Economics: Theory and Policy, Sixth Edition, Addison-Wesley, 2003. The ISBN for International Economics is 0-201-77037-7.

Text (optional): As an option, you may purchase the printed study guide. The study guide is NOT required.

Web Sites: Homework solutions, Power Point presentations, other study aids, and a calendar of assignments appear on my web page; Web Site for the textbook: http://www.aw.com/krugman_obstfeld; Aplia web site: Some assignments will be completed online. Detailed instructions are presented below.

Attendance: It is important to attend all class lectures as course materials build upon previous lectures throughout the entire semester. Students who miss class regularly rarely pass the course. Students who do not complete the assigned work usually earn low grades. Attendance will be taken using your name cards. Arrive early and pick up your name card. At the beginning of the class period, I will collect the cards of those absent or late. On the back of the card is a calendar where you should record your attendance. Display your name card during class and return it to the front table before you leave.

Exams: The exams will consist of a variety of short answer, essay, and problem solving questions. The final will consist of two parts: new material and a comprehensive retest of earlier material. Students may use the comprehensive retest to makeup one exam or to replace one low score.

It is your responsibility to notify me in advance if you cannot attend class for an exam. If you know that you will be absent, arrangements should be made prior to the test date. A legitimate university-wide excuse is sufficient to qualify for the makeup exam. If you lack such an excuse, but feel that you deserve an opportunity for the makeup exam, state your reasons in writing and submit them for my decision.

In-class work: A variety of short assignments and quizzes will be completed during class. To receive credit, you must be present for the entire class period. To better encourage your attendance, no make-ups will be allowed unless the student has an excused absence.

Term paper project: Students must produce a research paper on an international trade topic. Your topic must earn my approval. Specific requirements will be listed on my web page.

Homework: A variety of short answer, essay, and mathematical problems are assigned for you to complete outside of class. You may work alone or in small groups. Refer to the assignment calendar for due dates. Some of your Homework assignments are found on the Aplia Website (required). The Aplia site requires a separate registration process, which is described in detail on the last page of this syllabus.

Student benefits: By completing regular work in association with the lectures, you will learn more from the lectures and perform better on the exams. Cramming is not an effective method of learning. Aplia assignments will help you to practice and apply what you are learning from the reading and the classroom.

Aplia assignments: Many assignments come in pairs of practice and graded problem sets. The practice sets give you immediate feedback about whether your answer is right or wrong and an explanation of the correct answer. They are not counted as part of your homework grade. Use them to check your understanding of the material. If you are confident, you can go directly to the graded problem set, and refer back to the practice set only if you want some additional help.

The graded problem sets have a firm due date. You can change your answers as many times as you like before the due date has passed. Once the due date has passed, the grade will be recorded and it will not be possible to change your answers or complete the assignment at this point. In other words, Aplia assignments must be completed by the due date. The software does not care whether you have an excuse or not. These assignments are posted weeks in advance. Do them early to avoid any emergencies preventing your completion before the due date. After the due date, you will be able to see the correct answers and the explanations for graded problems.

The cost of Aplia is normally $28.00 USD per student for the semester. However, I have obtained a verbal commitment from the publisher to allow you to use the site free of charge this semester.

The assignments vary in length. However, each assignment carries the same weight (100% possible). Your lowest Aplia assignment score and your lowest in-class/regular homework assignment score will be dropped.

Procedures concerning the (non-Aplia) homework problems: In order to provide you with timely feedback on your work, I will require a rather strict protocol associated with these assignments, as follows:

You may work together in small groups for the homework assignments. If you prefer, you may work alone.

If you are working in a group, each group member's full name must be typed on a cover sheet for the assignment. (If you are working alone, you may print your full name at the top of the page in lieu of a typed cover sheet). The assignment itself need not be typed, but must be legible. Submit only one copy from each group. Do not include your social security number.

Under your name(s), clearly label each summary or homework assignment. For example, "Chapter 4 Exercises …."

Bring a copy of the homework assignment to class for each group member. When time permits, we will review the questions in class. Bring a red pen to make corrections on this copy. Put a check mark adjacent to your correct answers. Collected assignments will be checked for completeness and quality of presentation. Selected questions will be graded for content. To receive credit, you must first show your work with enough detail, order, and clarity so that I can easily understand what you have done. Suggested solutions to the homework questions will be posted on the web after the due date.

Students with excused absences should submit their assignments early. Any student may submit an assignment early.

 

Evaluation: An example showing how your final grade will be calculated is shown below:

Grading Scale: A > 90% (rounded); B > 80%; C > 70%; D > 60%; F < 60%.

Appealing a grade: If you believe that your work (on a particular assignment or exam question) merits a higher grade than that awarded, make your case in a written statement and submit it to me promptly.



 

NAU College of Business Administration Code of Conduct

http://www.franke.nau.edu/conduct.asp.

Responsibility:

I will be on time, prepared, attentive, and professional in my scholastic endeavors. I will take responsibility for my actions and make every effort to learn as much as possible from the educational opportunities presented to me.

Respect:

I will meet my commitments to others and treat everyone with respect and civility. I will respect our learning environment and help preserve its physical condition.

Integrity:

I will be a reliable and honest contributor to individual and group assignments.  I will not seek or help others gain unfair advantage in completing academic requirements.  I understand that there are severe consequences for academic dishonesty.

Expectations about Behavior

Responsibility:

Respect:

Integrity:

Do not engage in any act of academic dishonesty, including but not limited to:

Tips to Preserve and Increase Your Academic Integrity[1]

NORTHERN ARIZONA UNIVERSITY POLICY STATEMENTS
The complete version of these statements is available on the web (http://jan.ucc.nau.edu/~dgs2/Syllabi/Policy%20Statements.htm); a brief summary follows:

Safe Environment Policy: The first goal of this policy is to prevent discrimination. This policy also seeks to prevent sexual harassment, assault, or retaliation. http://oak.ucc.nau.edu/dam1/Safe%20Policy.htm

Policy for Students with Disabilities: If you have a temporary or permanent disability, please notify me (with a written note, e-mail message or see me in my office) as well as the NAU Counseling and Testing Center, 523-9559. In addition to counseling, the Center provides services such as special testing procedures. http://www.nau.edu/ctc/

Institutional Review Board: This board reviews proposed research projects, such as surveys, that involve human subjects. None of your assignments for this class will require this review. http://www4.nau.edu/ovp/irb/index.htm

Academic Integrity: Read the complete Policy on Academic Dishonesty, in Appendix G of the current NAU Student Handbook (http://www4.nau.edu/stulife/StudentHandbook/TableofContents.htm). The handbook includes the following definition:

Academic Dishonesty is a form of misconduct that is subject to disciplinary action under the Student Code of Conduct and includes the following: cheating, fabrication, fraud, facilitating academic dishonesty and plagiarism.

1.                         Plagiarism: any attempt to pass off other’s work as your own

2.                         Cheating: any attempt to gain an unfair, hidden advantage over one’s fellow students

3.                         Fabrication: any attempt to present information that is not true

4.                         Fraud: any attempt to deceive an instructor or administrative officer of the university

 

The penalty for a violation of this policy depends on the nature of the infraction, its potential effect on the course grade, and the past record of the student. For this class, the minimum penalty is a zero grade on the assignment or examination; the maximum penalty is dismissal from school.

Academic Contact Hour Policy: The Arizona Board of Regents Academic Contact Hour states: “an hour of work is the equivalent of 50 minutes of class times…at least 15 contact hours or recitation, lecture, discussion, testing or evaluation, seminar, or colloquium as well as a minimum of 30 hours of student homework is required for each unit of credit.”

Classroom Management Statement

Membership in the academic community places a special obligation on all members to preserve an atmosphere conducive to a safe and positive learning environment.  Part of that obligation implies the responsibility of each member of the NAU community to maintain an environment in which the behavior of any individual is not disruptive.

It is the responsibility of each student to behave in a manner which does not interrupt or disrupt the delivery of education by faculty members or receipt of education by students, within or outside the classroom.  The determination of whether such interruption or disruption has occurred has to be made by the faculty member at the time the behavior occurs.  It becomes the responsibility of the individual faculty member to maintain and enforce the standards of behavior acceptable to preserving an atmosphere for teaching and learning in accordance with University regulations and the course syllabus.

At a minimum, students will be warned if their behavior is evaluated by the faculty member as disruptive.  Serious disruptions, as determined by the faculty member, may result in immediate removal of the student from the instructional environment.  Significant and/or continued violations may result in an administrative withdrawal from the class.  Additional responses by the faculty member to disruptive behavior may include a range of actions from discussing the disruptive behavior with the student to referral to the appropriate academic unit and/or the Office of Student Life for administrative review, with a view to implement corrective action up to and including suspension or expulsion.

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