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Eco 328 2005-06 - Spring - Course Outline

This document provides information for the ECO 328Y1Y - International Economics course offered in the spring term of 2005-06 at the University of Toronto. It outlines the course objectives, required textbook, marking scheme, important dates, and course topics. The course will use lectures and readings to provide a systematic analysis of international commercial and financial transactions between nations and major policy issues. It will be evaluated through two midterm tests and two exams.

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74 views2 pages

Eco 328 2005-06 - Spring - Course Outline

This document provides information for the ECO 328Y1Y - International Economics course offered in the spring term of 2005-06 at the University of Toronto. It outlines the course objectives, required textbook, marking scheme, important dates, and course topics. The course will use lectures and readings to provide a systematic analysis of international commercial and financial transactions between nations and major policy issues. It will be evaluated through two midterm tests and two exams.

Uploaded by

thuhien230491
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© Attribution Non-Commercial (BY-NC)
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Department of Economics Prof. François R.

Casas
University of Toronto SS4073, 100 St. George St.
2005-06 (Spring term) Tel. (416)-978-4178/5441
Email: fcasas@chass.utoronto.ca
Office hours: M12:30-1:30

ECO 328Y1Y - INTERNATIONAL ECONOMICS


SECTION L0201, M2-4, BA1190
Course webpage: www.chass.utoronto.ca/~fcasas/eco328

OBJECTIVE:
The primary objective of this course is to provide a systematic analysis of the causes and the effects of the
commercial and financial transactions between nations, and the major policy issues raised by these
transactions. The first half of the course focuses on the balance of payments and foreign exchange
markets, with emphasis on macroeconomic policy in open economies while the second half deals with
international trade and commercial policy.

TEXTBOOK:
For the spring term, the required textbook is D.R. Appleyard & A.J. Field, International Economics (McGraw-Hill,
4th ed., 2001). A custom paperback edition of this text - which includes the first 19 chapters - can be
purchased at the U of T Bookstore. You may also use a new or second-hand copy of the full textbook.

Required supplementary readings will be available in a Reading Package at the U of T Bookstore. A test
package, which includes a number of past tests and exams, will also be available at the U of T Bookstore.
Solutions to most of the test and exam questions in the package are included. Various student
organizations (ASSU, APUS) may have copies of old tests and final exams can be downloaded from the
U of T main library website.

Lecture summaries can be found on the course webpage. These are not intended to be substitutes for the
required readings or for attendance at lectures.

ADDITIONAL HELP:
In addition to the weekly office hour, special tutorial (Q&A) sessions will be offered prior to the midterm test and
prior to the final exam. Times and locations will be announced in class.

Please note that it may be necessary to use the 4-5 p.m. period for makeup lectures or for special tutorials
occasionally. Students should not have a conflict with other courses.

MARKING SCHEME:
As announced by Prof. N. Soboleva, the final course mark will be determined as follows:
Fall midterm test (one hour) 1/6*
December exam (two hours) 1/3**
Spring midterm test (one hour) 1/6***
April-May exam (two hours) 1/3****

* If a student misses the Fall midterm test due to illness and presents a medical note within one week of the date
of the test, the December exam will then be weighted as 1/2 of the final course mark. A student who does
not produce a medical note in time will be assigned a mark of 0.
** If a student misses the December exam due to illness and presents a medical note within one week of the test
date, a make up exam will be offered in early January.
*** If a student misses the Spring midterm test due to illness and presents a certified medical note within one
week of the test date, the April-May exam will then be weighted as 1/2 of the final course mark. A student
who does not produce a medical note in time will be assigned a mark of 0.
**** Students who miss the April-May exam must petition their College Registrar for permission to write a deferred
examination in the summer.
2

The only medical note that will be accepted is the University of Toronto Student Medical Certificate (see the
Registration Handbook & Timetable for a copy of the certificate).

IMPORTANT DATES:
Monday, January 9, 2006 First Spring term lecture
Sunday, February 19 Last day to drop course without academic penalty
February 20-24 Reading Week
Monday, March 6 Spring midterm test – time and location TBA, test will cover Topic 1 in
course outline
Monday, April 10 Last Spring term lecture
April 11-15 Study period; a Q&A tutorial session will be arranged during this week
April 24-May 12 Examination period‡

‡The Faculty of Arts and Science selects the dates for examinations within this period. Students must not make
travel, employment or other plans that may conflict with the date chosen for the examination in this
course and any such conflict will not be accepted as grounds for writing a deferred exam. Instructors
cannot make special arrangements with students who miss the final exam for any reason.

COURSE OUTLINE AND READING ASSIGNMENTS

1. The Basis for and the Pattern of International Trade


(a) Technology and the Classical Model
Mercantilism and the Early Classical Challenge: A&F chap.2
Ricardo and the Theory of Comparative Advantage: A&F chaps.3, 4(39-44,48-9)
(b) Analytical Tools
Indifference Curves and the Production Possibility Curve: A&F chap.5
General Equilibrium and Offer Curves: A&F chaps. 6(81-84),7(97-100, 106-11,115-6)
(c) Factor Endowments and the Heckscher-Ohlin Model:
A&F chap.8(117-125)
(d) The Leontief Paradox and Alternative Bases for Trade:
A&F chaps.8(130-5),9(141-2,144-7),10(160-3,167-9)
P.T. Ellsworth & J.C. Leith, The International Economy (5th ed., 1975) - pp.107-8, 113-123,
181-4
H.G. Grubel, International Economics (1977) - pp. 71-83

2. The Effects of International Trade


(a) Trade and Income Distribution in the short run and in the long run:
A&F chap.8(125-9,136-9)
(b) Trade and Aggregate Welfare:
A&F chap.6(83-8)
(c) The Gains from Trade in the Presence of Market Imperfections:
See Lecture Summary Part 2(c)

3. Economic Growth and International Trade


A&F chap.11(185-9,192-201)

4. The Theory of Commercial Policy


(a) Tariff Theory:
A&F chaps.13(233-4,240-1),14(251-4,262-9),15(287-292, 299)
P.R. Krugman & M. Obstfeld, International Economics: Theory and Policy (6th ed., 2003) - pp.
192-198, 223-4
(b) Other Trade Barriers:
A&F chaps.13(243-6),14(254-6,259-62)
M. Chacholiades, Principles of International Economics (1980) - pp. 233-4
Krugman & Obstfeld - pp. 200-3, 214-7
(c) Customs Unions:
A&F chap.18(351-6)

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