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EC 407 International Trade & Finance
Laffitte, Chris


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Course

EC 407 International Trade & Finance

Semester

S1T 2010 DL

Faculty

Laffitte, Chris

Title

Adjunct Faculty

Degrees/Certificates

A.A. Business
B.S. Management
M.B.A. - International Business

Office Location

Online

Daytime Phone

412-584-5022

E-Mail

Chris.Laffitte@park.edu

Semester Dates

11 January - 07 March 2010

Class Days

TBA

Class Time

TBA

Prerequisites

EC141, EC142 and EC300

Credit Hours

3


Textbook:

Caves, Frankel, and Jones. World Trade and Payments: An Introduction, 10th ed.

ISBN: 0-321-22660-7

Textbooks can be purchased through the MBS bookstore

Additional Resources:

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.
Advising - Park University would like to assist you in achieving your educational goals. Please contact your Campus Center for advising or enrollment adjustment information.
Online Classroom Technical Support - For technical assistance with the Online classroom, email helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the http://parkonline.org website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.
FAQ's for Online Students - You might find the answer to your questions here.


Course Description:
EC407 International Trade and Finance: The course entails an examination of trade theory, commercial policy and selective trade problems of global economics; an investigation of the nature of international payments, balance of payments and foreign exchange markets; a study of international monetary arrangements and their adjustment mechanisms.Prerequisites: EC141, EC142 and EC300. 3:0:3

Educational Philosophy:

The instructor's educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, Internet, videos, web sites and writings.  

The instructor challenges and engages each learner in disputatious learning to encourage the lively exploration of ideas, issues, and contradictions. He believes that the application of theoretical concepts is equally important as the visualization of these concepts.

Learning Outcomes:
  Core Learning Outcomes

  1. Use the graphical, trade-triangle model to explain import and export flows.
  2. Explain how protectionism affects international trade.
  3. Explain how national savings determines the trade deficit, regardless of the level of protectionism.
  4. Explain how international cartels affect international trade.
  5. Explain how the devaluation of domestic currency affects the trade balance when exchange rates are fixed versus when they are floating.


Core Assessment:

Write a paper that explains that examines the relationship between comparative trade advantage and import and export flows. Examine the relationship between international trade and protectionism. Estimate the real impact of protectionism on international trade and suggest other components ofthe exchange process that might have a greater impact. Analyze the effects ofcartel formation on international trade and relate those effects to any form ofeconomic concentration. Examine the effects of a devalued domestic currency on the trade balance when exchange rates are floating and when they are fixed.

Link to Class Rubric

Class Assessment:

Description of Core Assessment for EC407

All Park University courses must include a core assessment that measures the course's Core Learning Outcomes.  The purpose of this assessment is to determine if expectations have been met concerning mastery of learning outcomes across all instructional modalities.  For this course, the core assessment is a research paper worth 20 percent of the student's final grade.  This paper will assess students' mastery of four Core Learning Outcomes (Outcomes 1, 2, 3, 4 and 5 listed on this syllabus).
Students shall write a paper that:

  • Explains the relationship between comparative trade advantage and import and export flows.
  • Examines the relationship between international trade and protectionism.
  • Estimates the real impact of protectionism on international trade and suggest other components of the exchange process that might have a greater impact.
  • Analyzes the effects of cartel formation on international trade and relate those effects to any form of economic concentration.
  • Examine the effects of a devalued domestic currency on the trade balance when exchange rates are floating and when they are fixed.

Each student shall select two countries and make theory and practical application analysis regarding those two specific countries and their currencies.  Thus, students must choose an original, unique specific topic by finding a real-world example of the general topic.  For instance, a student could choose General Motors, Microsoft or Boeing and examine the issues outlined above in the US versus UK, or Japan.  Students may not use specific topics mentioned in the textbook, and no two students may have the same specific topic, or the same set of the companies and countries.

NOTE:  Instructors may add requirements to those listed below and for grading purposes may add criteria not listed in the Core Assessment Rubric.

Paper Format

  • 1,500 – 1,700 words, not including the reference (Works Cited) page.  Verify this with word-count in Microsoft Word and include the actual word count typed at the bottom of the last page of text, before the reference page. 
  • The paper should be typed, double-spaced, on white paper, with page numbers centered at the bottom of the page.
  • The title page should contain the following in this order: general topic: specific topic, student's name, course name, date.
  • Paper and all supporting materials should be delivered to the instructor via the Dropbox. The student should retain a back-up copy.

Research Sources

Students should use at least four different acceptable research sources excluding the course textbook.  The quality and quantity of these references will determine the amount of points earned for research.

Acceptable Sources: In general, citations from Internet websites will NOT count as an acceptable source unless the citation is from a U.S. government website.  The Internet can be used to find on-line versions of publications, but such citations should be made only for articles that are published in paper form (i.e., can be found in a library).  For instance, you could use a New York Times article that is downloaded from the Internet. Encyclopedias and abstracts are not valid sources.  Cutting and pasting information from the Internet is plagiarism.

Recommended Sources:

  • The Wall Street Journal
  • New York Times online (e-mail notices of this are available for free)
  • CNN Financial News online
  • The Economist (magazine)
  • The National Review
  • The National Bureau of Economic Research
  • Any academic and nonacademic journals
  • Library books
  • Government publications (e.g., those of Bureau of Economic Analysis, Bureau of Economic Research, Commerce Department, U.S. Census, etc.)

Format for Citations

  • OR APA style (e.g., Diana Hacker's reference book)

Topic Paper Grading Criteria and Rubrics

The purpose of the topic paper and presentation is to gain a deeper understanding of a theoretical economic concept through its application to real-world situations. Papers will be assessed according to the appropriate application of economic theory to the specific topic chosen by the student.

A rubric with point distributions can be found in Doc Sharing.

Content

  • Topic appropriate for the course
  • Clear statement of objectives/hypothesis
  • Contents thorough, not superficial/sketchy
  • Progression coherent & consistent
  • Clear statement of conclusions

Application of Economic Theory:

  • Are concepts based in economic theory and supported by the real-world data?
  • Are economic terms defined?
  • Are economic concepts explained accurately?
  • Are facts presented and cited accurately?
  • Is a thorough understanding of concepts demonstrated?

Writing Style

  • Paper length appropriate
  • Paper pagination
  • Appropriate use of sub-heading
  • Appropriate use of paragraphs
  • Appropriate grammar & no typing/spelling errors
  • Letter size large enough for easy reading
  • Use of endnotes for data & sources of information
  • Substantive references

Class Assessment

Discussions - You need to participate in the weekly discussion threads. In addition to your own posting on the subject matter, please comment on at least two postings of your peers in order to receive full credit for the discussion. Each weekly discussion is worth 15 points and although it does not sound like much, six of them together amass for 90 points. This is a big chunk of your grade! YOU DO NEED TO POST AT LEAST THREE MESSAGES EACH WEEK EVEN THOUGH YOU CAN LOG IN ONLY ONCE. THERE IS NO MAKE UP POLICY FOR THE THREADED DISCUSSIONS. Course Participation includes participation in the Conference Area threaded discussions. A detailed grading rubric can be found in Doc Sharing.

Quizzes - will be assigned in each week during the course except for week four and week eight.  Students shall complete the weekly quiz by midnight on Sunday each week.

Homework - will be assigned during the course for each week.  Homework will be due by midnight on Sunday each week.  Homework is intended to prepare the student for the final exam. A detailed grading Rubric can be found in Doc Sharing.

Final examination - All final exams will be comprehensive and will be closed book and closed notes.  If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth.  Electronic Computers will not be allowed on final exams unless an exception is made by the Associate Dean.

A comprehensive examination will be taken in person during the 8th week of instruction. If you are within an hour's drive of a Park University Campus, a proctor from that campus will be provided for you. If you are not within an hour's drive of a Park Campus, the Proctored Final must be taken at an alternative location that is approved by the University. In this case, the student must arrange for a proctor who is accepted and approved by the instructor.  Guidelines for selecting an acceptable proctor can be found at the Park University website.

Grading:

Grading

Evaluation Item Points

Activity
Points
Week
Discussion/Course Participation (15 points each)

90

Weeks 1-3, 5-7

Homework (20 points each)

120

Weeks 1-3, 5-7

Quizzes (30 points each)

180

Weeks 1-3, 5-7

Open-Book, Midterm Exam

110

Week 4

Term Paper

200

Week 7

Proctored Final Exam

300

Week 8

TOTAL

1000

 

Grading Scale: 

A = 90 - 100 = 900 - 1000 points
B = 80 - 89 = 800 - 899 points
C = 70 - 79 = 700 - 799 points
D = 60 - 69 = 600 - 699 points
F = 0 - 59 = 0 - 599 points

The final grade for students in the course will be based on the overall average of the assignments taken during the course.  The proctored final exam must address only material which the student has been taught in class.

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.

Late Submission of Course Materials:
Weekly work must be submitted not later than Sunday midnight of each week.  

Late work will not receive full grade credit. Work not turned by the due date, but which is turned in no more then 7 days late, will receive 1/2 the score it would have received otherwise. Homework not received within 7 days of the due date will not be scored. No work received after the last Saturday of the term will be scored.

Classroom Rules of Conduct:

Any classroom conduct that disrupts the learning environment in the opinion of the instructor, will not be tolerated.  

Professors are required to keep attendance records and report absences throughout the term. Excused absences can be granted by the instructor for medical reasons, school sponsored activities, and employment-related demands including temporary duty. The student is responsible for completing all missed work. Absences in excess of four (4) class periods (2 weeks in a term) will be reported to the Dean for appropriate action. Any student failing to attend class for two consecutive weeks, without an approved excuse, will be institutionally withdrawn (unofficially withdrawn) and notified by mail that an "F" will be recorded.

Students are expected to spend a substantial amount of time online and offline each week including but not limited to responding to the weekly conference discussions, sending/receiving Email, reading and viewing online lectures, completing online quizzes and tests, and conducting research over the World Wide Web.  A rule of thumb is that you should spend approximately 4-5 hours per week online reviewing course content and engaging in group work and discussion and an additional 4-6 hours per week on readings, preparing assignments, or completing papers or examinations.

Also remember that computers make writing and revising much easier and more productive.  Students must recognize though that technology can also cause problems.  Printers run out of ink and hard drive crash.  Students must be responsible for planning ahead and meeting deadlines in spite of technology.  Be sure to save copies of your work to disk, hard drive, and print out paper copies for backup purposes.

 

Course Topic/Dates/Assignments:

Week 1

Readings

  • Read Chapters 1, 2 and 3
  • Weekly Lecture
  • Web resource: The Ricardian Model of Comparative Advantage
  • Article: Nature and strategy of product innovations in SMEs: A case study-based comparative perspective of Japan and India
  • Article: Unattractive Union

Activities

  • Discussion (15 points) Participate in the weekly discussion thread. Initial post and two responses to peers due Sunday midnight CT.
  • Homework (20 points) Complete weekly homework by Sunday midnight CT. Submit homework to the Dropbox.
  • Quiz (30 points) Take weekly Quiz by Sunday midnight CT.
  • Term Paper (200 points) Review Term Paper requirements.

Week 2

Readings

  • Read Chapters 4, 7 and 8
  • Weekly Lecture
  • Web resource: Comparative Advantage
  • Article: U.S. Comparative Advantage in Bioenergy: A Heckscher–Ohlin–Ricardian Approach
  • Article: Toward a New Developmental Paradigm for Latin America

Activities

  • Discussion (15 points) Participate in the weekly discussion thread. Initial post and two responses to peers due Sunday midnight CT.
  • Homework (20 points) Complete weekly homework by Sunday midnight CT. Submit homework to the Dropbox.
  • Quiz (30 points) Take weekly Quiz by Sunday midnight CT.

Week 3

Readings

  • Read Chapters 10, 11 and 12
  • Weekly Lecture 
  • Web resource: International Trade Administration
  • Article: Insuring Against Private Capital Flows: Is It Worth the Premium? What Are the Alternatives?
  • Article: Capital Movements and the Political Economy of Trade Policy

Activities

  • Discussion (15 points) Participate in the weekly discussion thread. Initial post and two responses to peers due Sunday midnight CT.
  • Homework (20 points) Complete weekly homework by Sunday midnight CT. Submit homework to the Dropbox.
  • Quiz (30 points) Take weekly Quiz by Sunday midnight CT.

Week 4

Readings

Activities

  • Open-Book Midterm Exam (110 points) - Submit your Midterm by midnight Sunday through the Dropbox.

Week 5

Readings

  • Read Chapters 13 and 14
  • Weekly Lecture 
  • Web resource: http://djsilverfish.wordpress.com/tag/anti-wto/ (this is somewhat radical anti-WTO blog site, please review with discretion and with an appropriate critical view)
  • Article: Globalization, empire and natural law
  • Article: The Impact of WTO Law on European Food Regulation

Activities

  • Discussion (15 points) Participate in the weekly discussion thread. Initial post and two responses to peers due Sunday midnight CT.
  • Homework (20 points) Complete weekly homework by Sunday midnight CT. Submit homework to the Dropbox.
  • Quiz (30 points) Take weekly Quiz by Sunday midnight CT.

Week 6

Readings

  • Read Chapters 15, 16 and 21
  • Weekly Lecture 
  • Web resource: Balance of Trade
  • Article: Mexico: Balance Of Payments Concerns in 2009
  • Article: De-Dollarisation Not An Option 

Activities

  • Discussion (15 points) Participate in the weekly discussion thread. Initial post and two responses to peers due Sunday midnight CT.
  • Homework (20 points) Complete weekly homework by Sunday midnight CT. Submit homework to the Dropbox.
  • Quiz (30 points) Take weekly Quiz by Sunday midnight CT.

Week 7

Readings 

  • Read Chapters 19 and 23
  • Weekly Lecture 
  • Web resource: Economist Intelligence Unit
  • Article: The Fed's Entangling Alliance
  • Article: Government Monetary And Exchange Rate Policy 

Activities

  • Discussion (15 points) Participate in the weekly discussion thread. Initial post and two responses to peers due Sunday midnight CT.
  • Homework (20 points) Complete weekly homework by Sunday midnight CT. Submit homework to the Dropbox.
  • Quiz (30 points) Take weekly Quiz by Sunday midnight CT.
  • Term Paper (200 Points) - Submit your Core Assessment Term Paper to the Dropbox by Sunday midnight CT.

Week 8

Activities

  • There are no readings this week
  • Proctored Final Exam

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.   Park University 2008-2009 Undergraduate Catalog Page 87

Plagiarism:
Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2009-2010 Undergraduate Catalog Page 92

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.
ONLINE NOTE: An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term. Recording of attendance is not equivalent to participation. Participation grades will be assigned by each instructor according to the criteria in the Grading Policy section of the syllabus.

Park University 2009-2010 Undergraduate Catalog Page 95

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluation: Judge the relative worth of information based on prior knowledge                                                                                                                                                                               
Outcomes
2, 5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Provided 5 or more comparisons regarding macroeconomic theoretical concepts and presented them in a logical manner. Provided 3 to 5 comparisons regarding macroeconomic theoretical concepts and presented them in a logical manner. Provided 1 to 3 comparisons regarding macroeconomic theoretical concepts. Provided no economic comparisons regarding macroeconomic theoretical concepts. 
Synthesis: Incorporate parts of an issue to arrive at an appropriate solution.                                                                                                                                                                             
Outcomes
2, 3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Applied detailed course content to answer the question and presented the steps in a logical manner. Applied adequate course content to answer the question and presented the steps in a logical manner. Applied minimal course content to answer the question. Applied no course content to answer the question. 
Analysis: The ability to understand the component parts of information and its organization                                                                                                                                                                
Outcomes
1, 5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Identified  at least 5 theoretical components and flawlessly analyzed macroeconomic concepts from the course content to answer the question. Identified 3 to 5 theoretical components and adequately analyzed macroeconomic concepts from the course content to answer the question. Identified 1 to 3  theoretical components and minimally analyzed macroeconomic concepts from the course content to answer the question. Did not identify any theoretical components and provided no analysis of macroeconomic concepts to answer the question. 
Application: Use principles from the discipline as they relate to the Core Learning Outcomes.                                                                                                                                                              
Outcomes
1,2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Exhibits thorough knowledge of the course content in the use of macroeconomic principles to answer the question. Exhibits moderate knowledge of the course content in the use of macroeconomic principles to answer the question. Exhibits minimal knowledge of the course content in the use of macroeconomic principles to answer the question. Exhibits no evidence of knowledge of the course content. 
Disciplinary Competence: appropriate use of terminology.                                                                                                                                                                                                   
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Uses terminology flawlessly to compose responses to questions.

No more than 3 errors
 
Uses terminology adequately to compose responses to questions.

No more than 7 errors
 
Uses terminology minimally to compose responses to question.

No more than 10 errors
 
Uses no terminology to compose responses to question.

More than 10 errors
 

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Last Updated:12/28/2009 7:37:49 AM