Syllabus

I 203 – Global Markets and Governance

Fall 2004, Class Nos. 26363 and 28428

 

 

Gerhard Glomm                                                Jeffrey Hart

Department of Economics                                 Department of Political Science

355 Wylie Hall                                                 346 Woodburn Hall

Email: gglomm@indiana.edu                              Email: hartj@indiana.edu

Office Hours:    T, Th  12:30-1                          Office Hours: W 1-3 and by appointment

                        M  1-2, & by appointment

 

The following required textbooks have been ordered for purchase and will be available at the Indiana Memorial Union bookstore:

 

Doug Irwin, Free Trade Under Fire

Joan Spero and Jeffrey Hart, The Politics of International Economic Relations, 6th Edition

 

Class Meeting Place and Times:

 

Class No. 26363          TuTh 1:00-2:15pm                   Foster Quad 012B

Class No. 28428          TuTh 11:15am-12:30pm           Foster Quad 012B

 

Course Content:

 

In this course we will study how resources are allocated in market economies and how governance influences the performance of markets.  We will pay special attention to international trade, international economic relations, and global political economy issues.  We will draw mostly on the insights from economics and political science but we will also take into consideration research in the other social sciences.

 

The class will be split into two halves: the first half, which is taught by Professor Glomm, covers mostly economic issues and analysis; the second half, which is taught by Professor Hart, covers mostly the politics of international economic relations.

 

Course Requirements:

 

(i)                  Research Project:  This is a team project.  Each team consists of three students.  We will make the team assignments and supply a list of topics.  Papers will be approximately 15 pages in length (12 point font, double-spaced).  You are invited to consult with us on this project as often as you like and hand in many drafts.  At a minimum we expect drafts from you at the beginning of class as indicated in the course outline.  The final draft is due on the last day of class.  In this research project as in any other assignments or projects in class you should strive for excellence.  The research project will be 40 percent of your final grade.

 

(ii)                Exam 1:  after the first half of the course covering the material presented by Professor Glomm. This exam will by 30 percent of your final grade.

 

(iii)               Exam 2:  at the end of the course covering the material presented by Professor Hart. This exam will be 30 percent of your final grade.

Course Outline and Calendar:

 

            We will try as much as possible to stick to the following calendar.  Periodically we might be induced to make small deviations from this plan.  In any case you can use this schedule to guide your reading of the course material.  You are expected to have read the relevant material before class.

 

Dates

Topics

Readings

Aug. 31

Introduction

Glomm Lecture Notes Ch. 0

Sept. 2-14

Competitive Markets

Glomm Lecture Notes Ch. 1

Sept. 16-21

Labor Markets

Glomm Lecture Notes Ch. 2

Sept. 23-28

Inefficiencies

Glomm Lecture Notes Ch. 3

Sept. 23

First Draft of Project Due

 

Sept. 30 - Oct. 7

International Trade

Spero and Hart, Ch. 3, Irwin Chs. 2 and 3

Oct. 12-14

Income Facts

Glomm Lecture Notes Ch. 5

Oct. 14

Second Draft of Project Due

 

Oct. 17

Review Session – 8:30 p.m.

 

Oct. 19

Exam 1

 

Oct.21-28

International Monetary Affairs

Spero and Hart, Chs. 2 and 6

Nov. 2-4

Foreign Direct Investment

Spero and Hart, Chs. 4 and 8

Nov. 9-11

North-South Issues

Spero and Hart, Chs. 5-7, review Ch. 8

Nov. 9

Third Draft of Project Due

 

Nov. 16-18

Oil and Natural Resources

Spero and Hart, Ch. 9

Nov. 23-25

Globalization and Global Governance

Spero and Hart, Chs. 1 and 11; Irwin, Chs. 1, 5-6

Nov. 30 - Dec. 7

End of the Cold War and 9/11

Spero and Hart, Ch. 10

Dec. 9

Final Review (in class)

none

Dec. 16

Exam 2

Class No. 26363: 5-7pm

Class No. 28428: 12:30-2:30pm

 

Helpful Hints:

 

1.      Study hard.  Come to class prepared.  We expect that you read the relevant material before class.

 

2.      Spend lots of time reading, and spend lots of time discussing the issues with your classmates (in a civilized manner, of course).  Always remember that, while grades matter, the most important thing is for you to learn.

 

3.      Do not hesitate to ask questions.  Our standards and expectations of the quality of your work are high.  We will tell you when you are right; we will also tell you when you are wrong.  Our criticism of your work will always be professional and courteous.  In our opinion, criticism is one of the most important tools we have with which to improve our work.  So, do not hesitate to ask.  You may ask us in person, during office hours or before, during, and after class, or via e-mail.  E-mail is great for shorter questions/answers.  For longer questions/answers, please see us in person.

4.      On any research paper, we expect you to do your own research.  Doing your own research means gathering your own data and coming up with your own interpretation of those data.  It is not good enough to quote famous people.  You are invited to consult any useful source for your research project(s), but you must acknowledge all your sources.