Course’s Description: This course examines the economic aspects of globalization. Attention is paid to international trade in goods and services, international flows of capital (through international lending and borrowing), and migration. Topics include trade theory, tariffs and other protectionist policies, trade agreements between nations, the World Trade Organization, balance of payments, exchange rates, and the European Monetary Union. On Occasion 3 credits. (From the Undergraduate Bulletin 2008–10.)

Textbook: International Economics: Theory and Policy by Paul R. Krugman and Maurice Obstfeld, Eighth Edition, Addison-Wesley, Reading, Massachusetts, 2009, ISBN: 0-321-48883-0. The seventh edition—or even the sixth edition—would be a very good substitute. I will keep a copy of the textbook on reserve at the library’s circulation desk throughout the semester.

The textbook has a Study Guide (ISBN 9780321548283). It provides a review of central concepts from the text, further illustrative examples, and additional practice problems. You are not required to buy the Study Guide. I will keep a copy of the Study Guide on reserve at the library’s circulation desk throughout the semester.

Course Outline: This course falls neatly into two parts: International Trade and International Finance. (If you are familiar with the terms “microeconomics” and “macroeconomics”—lookup any introductory economics textbook if you aren’t—you may, for now, think of International Trade and International Finance as, respectively, the microeconomic and macroeconomic parts of this course.) I will do International Trade up until the Midterm, after which, I will switch to International Finance. The Midterm will be on International Trade and the Final will be on International Finance.

For International Trade, I will pick and choose from chapters 2–11 of the course textbook. For International Finance, I will pick and choose from chapters 12–22.

Of all the international economics textbooks I have seen, the course textbook is the most suitable for this course. But in some ways it is not the perfect or ideal textbook. So, I will rely heavily on my own lecture notes.

Supplementary Reading: As I have just indicated, my lectures will sometimes draw on sources other than the textbook. See the attached list for further details.

Examinations and Grading: The Midterm will be held on Wednesday, October 28. The Final will be held during Finals Week. Apart from the Midterm and the Final, several pre-announced short quizzes and homework assignments will be given throughout the semester.

In preparing the course grade I will use the following weights: 30% for the Final, 30% for the Midterm, 20% for the quizzes, and 20% for a few homework assignments.

Homework Assignments on WebCT: The homework assignments will consist of computer-graded online quizzes within the WebCT course management system. You will have to log on at http://webct-fe.liu.edu and then go to the WebCT page for this course to find and complete the online homework assignments. To log on at http://webct-fe.liu.edu, use the firstname.lastname format as your username. Your password should be the same password you use to access our My LIU Web portal.

If you do not have a My LIU password, please go to http://www.liu.edu/it/cwpost/webct_info.html for further instructions. (This page also has links to documents that explain how to use WebCT.) If you are still unable to log on to WebCT, please contact the Office of Information Technology. You could email them at webct@cwpost.liu.edu or call them at 516 299 2281 or go to their offices on the main floor of the Library building.

Attendance Policy: The best possible grade (BPG) that you could get will depend on the number of your absences; see the accompanying table for details. You will be marked absent if you are late for a lecture by ten minutes or more or if you leave early or if you are not attentive in class.

No make-up tests will be given for the Midterm or the Final unless there are compelling medical reasons supported by a valid doctor's note. In case you cannot take a test at the scheduled time, you (or someone representing you) must inform me of the reason(s) not later than twenty-four hours after the test. Ideally, I should be told before the test. The reason(s) you give for missing a test will affect my decision on whether or not you should get a make-up test but it will not affect your BPG. No make-ups will be given for the quizzes. Assignments completed late will not count.

Contact Information: My office is at Room 206, Hoxie Hall (across from the Bookstore). My office phone number is (516) 299 2405/2321. My e-mail address is uroy@liu.edu. My own Web site is at http://myweb.liu.edu/~uroy/. My mailing address is: Udayan Roy, Economics Department, Long Island University, Brookville, NY 11548.

Office Hours: My office hours are: 12:30 p.m.–2:00 p.m. on Mondays and Wednesdays and 4.00 p.m.–5.30 p.m. on Wednesdays. For any other hours, a prior appointment will be necessary. Please stop by whenever you need any help with your coursework.

Web Sites: This course's Web site is at http://myweb.liu.edu/~uroy/eco41/. Also, the textbook has a support Web site at http://wps.aw.com/aw_krgmnobstf_interecon_8/  that may be password protected.

Have a great semester!