internationaleconomics econ 390-001 mon., wed., & fri. 12:30-1:20 pm university hall, 1202
TRANSCRIPT
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InternationalInternationalEconomicsEconomics
Econ 390-001Mon., Wed., & Fri.
12:30-1:20 pmUniversity Hall, 1202
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ProfessorProfessorChuck MoultonChuck Moulton
Contact [email protected]
888-MOULTON
Office Hoursby appointment
Ent. Hall, Work. 342
http://www.chuckmoulton.org/gmu/econ390/
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TextbooksTextbooks
International Economicsby Paul Krugman et al.
The Choice:A Fable of Free Trade
and Protectionismby Russell Roberts
The Elusive Questfor Growth
by William Easterly
required required required
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TextbooksTextbooks
Economic Sophismsby Frederic Bastiat
The Travels ofa T-shirt in the
Global Economyby Pietra Rivoli
recommended recommended
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GradesGrades
20% quizzes40% midterms40% final exam
• quizzes (5 question) on the readings, 10 lowest dropped• 3 non-comprehensive midterms on the lectures, lowest dropped• comprehensive final exam (5/14/2012, 10:30 am – 1:15 pm)• no make-up quizzes or tests, quizzes and tests will be curved• might be extra credit for field trips or speakers
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Course OverviewCourse OverviewUnit 1: International Trade TheoryUnit 2: International Trade PolicyUnit 3: Exchange RatesUnit 4: Miscellaneous Stuff
Theory Policy Exchange Rates Miscellaneous
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Sample QuizSample Quiz
We’re going to take a sample quiz on thesyllabus to familiarize with the process.
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Teaching PhilosophyTeaching PhilosophyI aim to align student incentives with course goals,so that quiz grades correlate with book knowledge
and midterms/final correlate with lecture knowledge .
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Teaching PhilosophyTeaching Philosophy
I don’t subscribe to alabor theory of value.
You will be graded on your output of demonstrated grasp of course material,
not on your input of effort.
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Teaching PhilosophyTeaching PhilosophyIn my opinion notes became obsolete withthe invention of the printing press in 1440.
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Teaching PhilosophyTeaching PhilosophyLearning should be fun.
If it isn’t fun, you aren’t doing it right.
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CheatingCheating• cheating will not be tolerated• all cheaters will be
o discoveredo reported to the Honor Committeeo issued F’s for the courseo suspended or expelled from GMU
• honor codeo you must not cheat yourselfo you must report cheating of others
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CalculatorsCalculators• There will be no calculators on exams• You should know basic math:
o additiono subtractiono multiplicationo divisiono fractions (+, –, ×, ÷)o simple algebra
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Bias DisclosureBias DisclosureLibertarian(politically)
anarcho-capitalist(philosophically)
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GovernmentGovernment
governmentgovernment –a legitimized monopoly on coercion
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Why Take International Economics?Why Take International Economics?• economy is increasingly global / interconnected• public is dangerously clueless of good policies:
free trade, open immigration, & sound money• develops knowledge base for high income jobs
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QuotesQuotes
“When goods don’t cross borders, armies will.” – Frederic Bastiat
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QuotesQuotes
“It is not from the benevolence of the butcher, the brewer, or the
baker that we expect our dinner, but from their regard to their own
interest.” – Adam Smith
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QuotesQuotes“It is no crime to be ignorant of economics,
which is, after all, a specialized discipline and one that most people consider to be a
dismal science. But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.” – Murray Rothbard