Understanding the Global Economy
You can contact staff by:
- Calling +64 7 838 4466 select option 1, then enter the extension.
Extensions starting with 4, 5 or 9 can also be direct dialled:
- For extensions starting with 4: dial +64 7 838 extension.
- For extensions starting with 5: dial +64 7 858 extension.
- For extensions starting with 9: dial +64 7 837 extension.
Understanding the Global Economy introduces various essential aspects of the global economy on which the individual economy interacts. It offers a principles-level introduction to the core theories, together with policy analysis and the institutional and historical context of global economic relations. The objective of the paper is to make economic reasoning about the global economy accessible to a diverse group of students. The central theme of the paper is to provide a solid platform to understand how global economic institutions, commercial trade and finance, and regional issues help shape the current global economic order under which the world economy functions.
The paper will help students develop an understanding of the global issues that are critical for rational and sustainable decision making in today's business world.
The paper is supported online through Moodle, and the class has its own Facebook group (https://www.facebook.com/Econs200/), which you are encouraged to join and make use of.
Students who successfully complete the course should be able to:
Understand the world economy and global economic institutions since World War II;Linked to the following assessments:
INTERNATIONAL TRADE & FINANCE
Understand commercial policy, the political economy of protectionism and use the theories of trade and balance of payments, exchange rates and exchange rates system to recommend policies towards solving global economic problems;Linked to the following assessments:
THE MACROECONOMY IN GLOBAL SEETING
Understand the aggregate demand and aggregate supply, fiscal and monetary policies and the theories of current account imbalances and use descriptive or graphical models to apply these theories to issues involving global policy coordination at the macro level;Linked to the following assessments:
GLOBAL ECONOMIC CRISIS
Understand how global economic imbalances and volatile capital flows can trigger financial crisis causing global recession and learn how to apply these knowledge to create an innovative global financial architecture;Linked to the following assessments:
Understand regional issues in the global economy including the influences of European Union, United States, China, South- and East-Asia in the world economy. This knowledge is expected to help students develop skills for general policy making in an integrated global business environment;Linked to the following assessments:
CASE STUDY METHOD
The paper emphasises learning via case study as one of its preferred approaches to learning. Students' understanding of the main theoretical and empirical concepts underlying the global economy will mainly come from their abilities to apply their acquired knowledge within a context of a particular case study, either related to a country or to a topic.
This skill will enable students to mature their understanding of the global system and to use a holistic approach to provide sustainable solutions to business and economic problems affected by globalization.Linked to the following assessments:
Room allocations for the Mid Semester Test will be advised nearer the test date.
The internal assessment/exam ratio (as stated in the University Calendar) is 50:50. There is no final exam. The final exam makes up 50% of the overall mark.
The internal assessment/exam ratio (as stated in the University Calendar) is 50:50 or 0:0, whichever is more favourable for the student. The final exam makes up either 50% or 0% of the overall mark.
Error: Assessment components must add up to 100%
At least one Assessment Component needs to be entered
|Component Description||Due Date||Time||Percentage of overall mark||Submission Method||Compulsory|
|2. Mid Semester Test||
4 Sep 2018
|3. Case Study||
8 Oct 2018
Required and Recommended Readings*
Gerber, James (2018). International Economics, 7th Edition (Global Edition). Pearson Education Limited.
Stiglitz, J., Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump, Penguin, 2017
Marthinsen, J., Managing in a Global Economy, 2nd Edition, Cengage Learning, 2015
McTaggart, D., Findlay, C., and Parkin, M., Macroeconomics 7th edition, Pearson, 2013
Hickson, S., The NZ Macroeconomy, Pearson-New Zealand, 2013
Littleboy, B., Taylor, J., and Weerapana, A., Macroeconomics: Principles & Practice, Cengage Learning, 2013
Serra, N., and Stiglitz, J., The Washington Consensus Reconsidered: Towards a New Global Governance, Oxford University Press, 2008
Stiglitz, J., Globalization and Its Discontents, W.W.Norton, 2002
"Moodle" is a one-stop website for access to materials and grades for papers you are enrolled in, WMS databases and more. It can be accessed from www.mngt.waikato.ac.nz/myweb. Enter your username and password, and a page of useful, personalised links will appear.Internet Support:
If you need extra support with understanding the material covered in this course, then visit the main website suggested in the textbook and the study plan available in Mylab.
Many other introductory macroeconomics economics texts are also worthwhile to use as extra support. They can mostly be found at the HB172.5 classification in the library.
Linkages to Other Papers*
Restricted papers: ECON200