Economics 103, Intro to World
Economy, Fall 2004
Kirsten K.
Madden, Ph.D.
Section/meeting time: MWF 00:
2 p.m. Office: 379 McComsey
McComsey Hall, Room 201 Office
Phone: 872-3576
Office
Hours: MW 9-10:30 a.m.; F
10:55 a.m.-12:55 p.m. and by appointment kirsten.madden@millersville.edu
Course Prerequisites. Economics 101 or Economics 102.
Overview of Course & General Learning Objectives.
This semester we will focus on the issue of globalization in the world economy. We begin the semester introducing the subject with a number of interesting case studies and general overviews of the various perspectives about and institutions involved in globalization. The class then turns to the technical side of globalization: economic measurement, evaluation and objectivity; the fundamentals of capitalism; and international trade, including the theory of comparative advantage, understanding balance of payments and exchange rates and an introduction to ecological issues. We then consider more case studies concerning globalization, with this second round of cases utilizing the technical knowledge you obtain from the previous weeks’ studies. We end the semester evaluating globalization and considering solutions to its problems as well as potential alternatives.
By semester's end, you will have a basic understanding of globalization and the major arguments for and against this phenomenon. In establishing an understanding of globalization, you will develop a working knowledge of a number of economic indicators, the process of economic evaluation, capitalism, and international trade. You will be able to apply what you learn about these issues to obtain a fuller understanding of the impact of globalization in the real world. You will develop your ability to work with a team. Finally, you will work on basic research and presentation skills.
Course Outline and Readings.
No textbook provides adequate coverage of the multi-faceted subject of globalization with impartial consideration to all sides involved in its evaluation. The textbooks that do exist are grounded in orthodox economic theory without fully addressing the complex issues associated with globalization in the economic, social, ecological, and political spheres of real people’s lives. In order to address globalization in a fuller, and hopefully richer context, the readings are pulled together from a variety of sources such as books and textbooks, periodicals, the US federal government, and a number of non-profit organizations’ research publications.
One required book is available for purchase at the University Bookstore:
Norberg-Hodge, Helena, Todd Merrifield and Steven Gorelick, Bringing the Food Economy Home: Local Alternatives to Global Agribusiness (2002) Bloomfield, CT: Kumarian Press, Inc. and London: Zed Books. (Please note: in the outline below, this book is referred to in abbreviated form as Food Economy.)
In addition, the readings listed in the outline below are required. The vast majority of the required readings are being made available through Ganser Library’s online reserve reading program. You may access the readings by following these links: from the MU homepage, click “library”; click “semester reserve” (top left hand corner); select an instructor (Madden) and click “go”; click on any of the highlighted links for Econ 103; type in the semester reserve course password and hit enter. The password is the CRN (course number from the Fall Catalogue), which is 5373. You will then see a list of the reserve articles. (These are primarily listed alphabetically by author last name but some are out of order, listed either by title or publishing organization when no author is formally recognized.) Click on the article you would like to review and read or print. Also please note that a few of the longer readings are saved in two parts on the electronic reserve reading list (the two-part articles are all noted below.)
Anderson, Sarah and John Cavanagh (2000), “Top 200: Rise of Corporate Global Power.” Institute for Policy Studies, pp. 1-13.
Cox, W. Michael and Richard Alm, “The Fruits of Free Trade” 2002 Annual Report, Federal Reserve Bank of Dallas. Also available at: http://www.dallasfed.org/fed/annual/2002/ar02.pdf, p. 1-24.
Walt, Vivienne, “Flower Trade,” National Geographic, April, 2001, pp. 104-119.
Robbins, John
(2002), "Is there Slavery in your Chocolate?" Mindfulness in the
Marketplace, Allan Hunt Badiner,
ed. Berkeley, CA: Parallax Press,
pp. 201-213. This article is also
available on the web: http://www.foodrevolution.org/slavery_chocolate.htm
Vanderbilt, Tom, “Whatever Happened to the Domestic Sneaker?” The Sneaker Book: Anatomy of an Industry and an Icon (1998) New York: The New Press, pp. 76-113. (Please note: this article is in two parts in the electronic reserve listing.)
Jacques, P. R. Thomas and D. Foster (2003), “Wal-Mart or World-Mart? A Teaching Case Study.” Review of Radical Political Economics, vol. 35, no. 0, pp. 513-533.
No Author Given. “Learning to Love Wal-mart.” The Economist, April 17-23, 2004, p. 9.
Stiglitz, Joseph E. “Chapter 1: The Promise of Global Institutions,” Globalization and Its Discontents (2003) New York: W.W. Norton and Co., pp. 3-22.
Food Economy (purchased at bookstore), Chapter 1.
Globalization:
Technical Issues (Measurement and Evaluation; Capitalism; International Trade,
Ecology).
Angresano, James, “Chapter 2, Evaluating and Comparing Economies,” Comparative Economics, 2nd ed. (1996), Uppersaddle River, NJ: Prentice Hall, pp. 23-37.
Yates, M.D. (2004)
“Poverty and Inequality in the Global Economy.” Monthly Review
55(9) pp. 37-48.
Schnitzer, Martin C. “Chapter 2: Market Mechanisms and Capitalism,” Comparative Economics Systems, 7th Edition (1997) Southwestern College Publishing, pp. 25-33.
Rosser, J. Barkley Jr. And Marina V. Rosser, “Chapter 2: The Theory and Practice of Market Capitalism” Comparative Economics in a Transforming World Economy (1996), Boston: Irwin/McGraw-Hill, pp. 25-55. (Please note: this chapter is in two parts in the electronic reserve listing.)
Case, Karl E. and Ray C. Fair, Chapter 21, “International Trade, Comparative Advantage, and Protectionism,” Principles of Macroeconomics, 4th ed. (1996), Uppersaddle River, NJ: Prentice Hall, pp. 480-503.
Daniels, Joseph P. and David D. VanHoose, “Chapter 6: Balance of Payments and Foreign Exchange Markets” Global Economic Issues and Policies (2004) Thomson-Southwestern Publishers, pp. 160-196. (Please note: this chapter is in two parts in the electronic reserve listing.)
Daniels, Joseph P. and David D. VanHoose, “Chapter 7: Exchange Rate Systems, Past to Present” Global Economic Issues and Policies (2004) Thomson-Southwestern Publishers, pp. 202-225.
Todaro, Michael and Stephen Smith, “A Brief History and Analysis of the International Monetary Fund and World Bank” Economic Development (2003), 8th edition, Addison-Wesley, pp. 626-633.
Todaro, Michael and Stephen Smith, Sections entitled “The 1980s Debt Crisis”, and “Attempts at Alleviation” Economic Development (2003), 8th edition, Addison-Wesley, pp. 605-619.
Costanza, Robert, John Cumberland, Herman Daly, Robert Goodland and Richard Norgaard (1997) Chapter 1: “Humanity’s Current Dilemma.” An Introduction to Ecological Economics. Boca Raton, FL: St. Lucie Press.
Food Economy (purchased at bookstore), Chapters 2-4.
Kwa, Aileen, Power Politics in the WTO (2003), Bangkok, Thailand: Focus on the Global South. Also available on the web at http://www.focusweb.org/publications/Books/power-politics-in-the-WTO.pdf.
Palley, T. (2003). “After Cancun: An Optimistic Case.” Challenge 46(6): pp. 16-31.
Global Exchange (no author given), “How the International Monetary Fund and the World Bank Undermine Democracy and Erode Human Rights: Five Case Studies” September 2001, pp. 2-16.
No author given, “Wanted: A New Regional Agenda for Economic Growth,” The Economist, April 26-May 2, 2003, pp. 27-29.
Witness for Peace (no author given), “A Hemisphere for Sale: The Epidemic of Unfair Trade in the Americas” (2001), pp. 1-24. Also available at: http://www.witnessforpeace.org/pdf/hemisphere.pdf.
Anderson, Sarah and John Cavanagh, “Rethinking the Nafta Record” (August 8, 2002), Washington DC: Institute for Policy Studies, pp. 1-6. Also available at: http://www.ips-dc.org/projects/global_econ/rethinking%20nafta%20aug%202002.pdf.
Human Rights Watch (no author given), Summary section of The price of oil: Corporate Responsibility and Human Rights Violations in Nigeria’s Oil Producing Communities 1999, by NY: Human Rights Watch. Also available on the internet at http://www.hrw.org/reports/1999/nigeria/#P86_4633.
Baran, M. (2003). “Stop Killer Coke Paramilitaries murder union leaders at Coca-Cola bottling plants in Colombia” Dollars and Sense, no. 250, pp. 10-13.
Witness for Peace (no author given) "In our Name? The Cycles of Economic and Military Violence in Latin America" (2002) Washington D.C.: Witness for Peace, pp. 1-43. Also available at http://www.witnessforpeace.org/pdf/ion.pdf.
Patel, Raj with Alexa Delwiche, "The Profits of Famine: Southern Africa's Long Decade of Hunger," In Backgrounder, vol. 8 no. 4. Published by Food First: Institute for Food and Development Policy, Fall 2002, pp. 1-7. Also available at http://www.foodfirst.org/pubs/backgrdrs/2002/f02v8n4.pdf.
Pegg, Scott, "Poverty Reduction or Poverty Exacerbation? World Bank Group Support for Extractive Industries in Africa" (2003) Washington D.C.: Oxfam America, Friends of Earth, etc., pp. 1-31. Also available at http://www.foe.org/res/pubs/pdf/pegg.pdf .
Food Economy (purchased at bookstore), Chapters 5-8.
Other readings may be added to the required list at the instructor’s discretion over the course of the semester.
Finally, two videos are available at Ganser Library, at least one of which will be shown in class: Cappuccino Trail: The Global Economy in a Cup and Globalization: Winners and Losers.
Course Requirements
1. The course outline above gives a preliminary description of the reading material for this course. You are required to keep up with the reading. All the required material should be read prior to coverage in class. The current course plan for reading assignments is attached in table format to this syllabus, but it is fairly likely that this plan will be adjusted as we move through the semester; small adjustments will be handled on a class-by-class basis; if we diverge sharply from the course plan, a new plan will be distributed later in the semester. If you miss a class, it is your responsibility to determine the assignment for the following class and to complete it.
2. To facilitate class discussion, reading assignments will be accompanied by directed writing assignments on a class-by-class basis. Completion of the reading and writing assignments when they are due, regular class attendance and participation in class discussions constitute 20% of your course grade. The reading and writing assignments are a platform from which to begin class discussion and will be checked for completion at the beginning of class. At the instructor’s discretion, assignments may be randomly collected and evaluated. Your ability to participate in class discussion will also signal whether you have completed the reading for the day. If you are missing from class, I will presume you are not prepared for the day. You are allowed to miss three classes or reading/writing assignments over the semester without penalty. The maximum grade you may receive for the reading/writing/class participation component of your grade will drop 3% for each day or assignment missed beyond the three permitted. For example, if you miss five classes or assignments over the semester, the maximum grade you could receive on this component of your evaluation drops from 100% to 94%.* Please note that both skipping class (whether or not you complete the assignment in advance) as well as attending class without a prepared assignment will count as class misses.
3. Student teams will be responsible for creating 15-18 minute oral presentations on an issue relevant to the course focus on globalization. These presentations will take place the last four class meetings in the semester. Earlier in the semester, students will be asked to complete preliminary tasks to motivate project activity. Topics, approaches to researching the chosen topic, and presentation style are left to the discretion of the student teams, subject to approval by the instructor. Students are encouraged to be creative in their choice of topic and in their presentation style and are required to present material that will educate their peers about globalization at the college level. The presentation will be evaluated both by the other students in the class and the instructor. The oral presentation constitutes 15% of your course grade.
4. Two exams will be given during the semester. The dates are given in the course schedule. Each exam counts as 20% of your course grade. Missing an exam without a VALID excuse will result in a zero (and validity is determined by the instructor.) Excuses for missing an exam must be given in writing to me with appropriate verification (from doctor, police, etc.) and a phone number allowing me to personally verify the emergency. Students with acceptable documentation after missing an exam will take their make-up exam during finals week on Friday, December 17, 2004 at 2:45 p.m. Repeat: make-up exams will take place the last week of the semester.
5. In addition to the midterms, a final exam will be held during the regularly scheduled exam period. All students in this course are required to take the final at the scheduled time. This exam counts as 25% of your course grade.
6. In all class-related activities, students are expected to act honestly in accordance with the Millersville University “Academic Honesty and Dishonesty” policy statement.
Activity Date Course Grade^
Exam II Monday, November 1, 2004 20%
Reading/Writing Assts./Class Particip. (grade accrues on a class-by-class basis) 20%
Final Exam Thursday, December 16, 2004, 10:15 a.m. – 12:15 p.m. 25%
Oral
Presentation All
teams should be prepared to present Mon., Dec. 6
15%
*In consultation with me
before absences have occurred, this policy may be adjusted for students in highly
unusual circumstances (and with
physical proof of such circumstances.)
Reading Assignment Plan (subject to change at
instructor’s discretion).
|
Week of |
Monday |
Wednesday |
Friday |
|
08/30/2004 |
Intro |
Cox & Alm: fruits of
free trade |
Walt: flower trade ;
Robbins: chocolate |
|
09/06/2004 |
Labor Day: No Class |
Vanderbilt: sneakers |
coffee video |
|
09/13/2004 |
Jacques, et. al article
& Economist article: Wal-Mart |
Stiglitz: Chapter 1 of
Globaliz. and its Discontents |
Norberg-Hodge ch. 1 on
from local to global food |
|
09/20/2004 |
Angresano: econ indicators
|
Angresano: econ indicators |
video/team presentation
workday |
|
09/27/2004 |
Angresano: econ
indicators; Yates: poverty and inequality |
exam 1 |
supply and demand
experiment |
|
10/04/2004 |
what is capitalism?
Schnitzer; Rosser & Rosser |
what is capitalism?
Schnitzer; Rosser & Rosser |
what is capitalism?
Schnitzer; Rosser & Rosser |
|
10/11/2004 |
Fall Break: No Class |
internatl trade experiment |
Case & Fair: compar
advantage theory |
|
10/18/2004 |
Case & Fair: compar
advantage theory |
Daniels & VanHoose,
ch. 6, BOP |
Daniels & VanHoose,
ch. 6, BOP |
|
10/25/2004 |
Daniels & VanHoose,
ch. 7, ERs |
Daniels & VanHoose,
ch. 7 |
Todaro & Smith:
IMF/World Bank; debt/alleviation attempts |
|
11/01/2004 |
exam 2 |
Costanza, et al:
humanity's current dilemma (ecology) |
Norberg-Hodge, Food
Economy, Chs. 2-4 |
|
11/08/2004 |
Kwa: WTO article on power
politics; Palley: "After Cancun" |
Global Exchange: IMF/World
Bank undermine democracy, human rights--5 country cases |
Economist article: new
regional agenda for growth (on Latin Am.) |
|
11/15/2004 |
Witness for Peace--hemisphere
for sale (on Mexico) |
Anderson & Cavanagh:
Rethinking NAFTA (6 pp) |
Human Rights Watch: oil in
nigeria (sum only); Baran: coke paramilitaries |
|
11/22/2004 |
Witness for Peace: cycles
of econ/military violence in Latin Am. (43 pp) |
Thanksgiving Break: No
Class |
Thanksgiving Break: No
Class |
|
11/29/2004 |
Patel and Delwiche: famine
in southern Africa (7 pp) |
Pegg: extractive
industries |
Norberg-Hodge Chs. 5-8 |
|
12/06/2004 |
student team
presentations |
student team
presentations |
student team
presentations |
|
12/13/2004 |
student team
presentations |
Final Exam: Thursday,
Dec. 16, 2004 10:15-12:15 |
|