International Economics - Economics 5461

N. Brodsky, Instructor


Text: International Economics, 3rd edition, Feenstra, Robert C. and Alan M Taylor, Worth Macmillan, 2014


Reference Texts: Lectures in International Trade, Bhagwati, Jagdish

            and T.N. Strinivasan, The Oxford University Press, Chicago, 1983.

International Economics, Chocolaides, M., McGraw-Hill, New York, 1976.

World Trade and Payments, Caves, R. and R. Jones,

International Economics, Mundell, R.

The World Economy: Trade and Finance, second ed. Yarbrough, Beth V. and

      Robert M. Yarbrough, The Dyden Press, Chicago, 1992

Handbook of International Economics, Volume 1 (International Trade) and Volume 2

 (International Finance), Edited by Ronald W.Jones and Peter B. Kenen, North-Holland, 1984.


Note: The numbers that appear on the left side of the titles refer to chapter and section in the text.


I. International Trade

A) International Trade Theory

            2 Trade and Technology: The Ricardian Model

            4. Trade and Resources: The Heckscher-Ohlin Model

            5. Movement of Labor and Capital between Countries

                        Rybczynski Theorem and Factor Price Intensity Theorem

            6. Increasing Returns to Scale and Monopolistic Competition

                        Intra-Industry Trade and the Gravity Equation

B) International Trade Policy (Tariffs, Quotas, etc.)

            8. Import Tariffs and Quotas Under Perfect Competition

            9. Import Tariffs and Quotas Under Imperfect Competition

            11. International Agreements: Trade, Labor, and the Environment


II. International Finance

C) Exchange Rates and Open-Economy Macroeconomics

            12. The Global Macroeconomy

            13. Introduction to Exchange Rates and the Foreign Exchange Market

            14. Exchange Rates I: The Monetary Approach in the Long Run

            15. Exchange Rates II: The Asset Approach in the Short Run

            16. National and International Accounts: Income, Wealth, and the Balance of Payments

            18. Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the

 Short Run

19. Fixed Vesus Floating: International Monetary Experience


Learning Objectives:


1.Students will demonstrate the ability to think critically and to use appropriate concepts to analyze qualitatively problems or situations involving the application of International Economics to real world situations.

2. Students will analyze numerous examples of qualitative and quantitative solutions to real world problems that demonstrate the importance of the material being learned and how it might be applied to real world situations.

3. Students will demonstrate ability and knowledge to discuss the material clearly and objectively both orally and in writing in this course.

5. Students can expect to develop International Economic intuition and analytical skills.

6. To apply economic analysis to a variety of domestic and international issues.

7. Acquire an understanding of mechanisms that determine output, employment, interest rates and prices.

8. Understand the interaction between markets and between domestic and international systems.

9. Acquire model building skills.




INTERNATIONAL ECONOMICS                                           Instructor: Noel Brodsky

Economics 5461                                                                      Office: 2831 (215D) Coleman Hall

Spring 2016                                                                             Phone: (910) 688 3788


                                                                                                Hours: 2:00pm-4:00pm MW

                                                                                                or by Appointment



Grade Determination:


    1 Term Paper (100 points)                                                   = 100 points

    1 Final exam (100 points)                                                   = 100 points

                                                                                    Total       200 points



Expected Grade Distribution and Curve Structure:


      Curve Structure:  Average exam score will be set at or near a baseline "B", whenever practical.   The curve is absolutely determined one week after the exam is returned.


    The Cutoffs are as follows:


    88% = A, 77% = B, 66% = C, 55% = D, below 55% is an F


Special Information: Term paper: The paper must utilize a word processor, done by the student turning the paper in for his or her grade. Failure to do this will result in a failing grade for the paper. The paper is absolutely required for the course, and regardless as to the point value of the paper, failure to turn it in will result in an automatically failing grade for the course. The paper is of your own making, subject to my approval. The paper must be on a topic related to International Economics. A poor topic choice is serious, and can result in a loss of 3 (three) letter grades on the paper. It is a longer paper, say about 15-25 pages. Do not ever copy from someone else.


Important Dates:


Paper: Proposal Due April 1, 2016 Paper Length: 15-25 pages, word processed, double-spaced, your work. Final Draft Due Monday April 25, 2016, at 4:00pm. The paper may be turned in on Wednesday, April 27, 2016, with the loss of 2 letter grades, each day thereafter, one letter grade is lost.  The paper must be submitted in print and electronic form.


If you have a documented disability, and wish to discuss academic accommodations, please contact me as soon as possible.