Global Economic IssuesBack to Course Guide
The globalization of modern markets is one of the major developments of the modern economic era. The impact of economic interdependence has often resulted in severe and asymmetrical economic impacts among different nations and/or among different sectors within a nation. The purpose of this course is to introduce students to these concepts and ideas of global economics and equip them with the necessary tools to analyze effectively the effects of global markets on the domestic economies. This experience will allow students to develop the ability to analyze the current issues objectively and accurately. Emphasis will be on current events, gains from trade, Balance of Payments, determination of exchange rates and various monetary standards, international capital flows, and trade policy considerations in a changing global economy.
PREREQUISITES: ECO 2131 Principles of Macroeconomics or BUS3310 Market Structure & Competitive Analysis
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Understanding fundamental aspects of globalization of economic activity.
- Understanding fundamental aspects of Monetary Policy Theory.
- Analyzing free trade and the quality of life in a variety of national economies.
- Analyzing and evaluating the interconnectedness of global financial and economic dynamics.
- Understanding concepts of exchange rate risk management for a multinational enterprise.
- Analyzing exchange rate behavior and the equilibrium theories.
- Evaluating basic components of trade agreements and conflicts in the post World War II period.
- Demonstrating an understanding of the global economic downturn and its broad impact on various regions of the world
- Understanding trade conflicts between developing and industrial nations.
- Applying relevant and ethical assumptions and estimates in economic management policies and decision.
- Understanding the Balance of Payments and Exchange Rate Determination.
- Analyzing and evaluating Macroeconomic Policy in an Open Economy.
- Analyzing basic impacts of trade liberalization.
- Understanding governmental influence on exchange rates, inflation, and imports/exports.
- Understanding the impact of the dollar as a reserve currency.
- Analyzing and evaluating the Role of Expectations in Monetary Policy.
- Analyzing and evaluating transmission mechanisms of Monetary Policy.