International Trade in the Global Economy

USF Course Code: ECO 3703

Prerequisite: none*; taught in English.

Students: ISA students

Contact hours: 45

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I. Course Description:
This course requires students to take an active role in interpreting theoretical approaches, language and concepts pertaining to the field of economics, as well as the discipline of political science. The course will provide a framework that will enable students to thoroughly analyze the evolution of the international systems and contemporary international relations. This framework will consist of information related to regionalism, globalization, legal and institutional context, theoretical concepts, international organizations, multinational corporations, trade agreements and treaties, along with a myriad of other factors that influence international trade. Special attention will be paid to the practice of international trade in different world regions. Students will conduct a final project based on the internationalization of an enterprise in a market or geographic area.  The business internationalization project will be developed along the entire course and will be presented at the end.

*Recommended prior knowledge: 
Although it’s not mandatory, the students in this course will benefit from having some previous basic knowledge of theories, key actors, policies and case studies pertaining to the fields of Economics, Political Science, and International Relations.

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II. Learning outcomes:
Students will be able to: 
-    Understand theories of trade 
-    Analyze the impact of trade on growth 
-    Relate the theory with practical cases 
-    Trace current developments in the global economy
-    Understand the role of the global monetary system
-    Understand the current trade and investment trends
-    Develop the ability to comprehend international economic and financial issues
-    Learn how the foreign exchange market works

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III. Course contents (order of content may be modified):

Unit 1. CONCEPTUALIZING INTERNATIONAL TRADE
-    Definitions, significance, importance of International Trade
-    Historical perspective: Evolution of International Trade
-    Instruments: tariff and non tariff barriers 
-    Globalization

Unit 2. TRADE ACTORS ON THE WORLD STAGE 
-    GATT& the new WTO (World Trade Organization)
-    EU (European Union) 
-    NAFTA (North American Free Trade Agreement) 
-    MERCOSUR and the Pacific Allience
-    ASEAN (Association of Southeast Asian Nations) 
-    APEC (Asia Pacific Economic Cooperation)
-    The great regional trade deals under negotiation: 
a)    The Transatlantic Free Trade Area (TTIP): USA-EU
b)    The Trans-Pacific Partnership (TPP): Asia-Pacific and the Americas

Unit 3. INTERNATIONAL TOPICS FOR A GLOBAL ECONOMY
-    Non-traded goods 
-    International Trade in services
-    Cross-border investment flows (FDI)
-    Multinational companies
-    Intellectual property 

Unit 4. COMMERCIAL PROBLEMS AND PRACTICES IN DIFFERENT CULTURAL 
SETTINGS
-    The Political Economy of Protection: Western world (USA – Europe), East Asia (China, Japan, South Korea), India and Russia
-    Trade Policy and the Less Developed Countries: Latin America, Arab and Islamic World and Africa

Unit 5 INTERNATIONAL MONETARY SYSTEM
-    The Evolution of the international monetary system
-    Current debates over exchange rates
-    Optimum currency areas. The European Experience
-    China´s undervalued currency    

Unit 6. PRACTICAL CASES IN INTERNATIONAL TRADE

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IV. Course Material: 
International Business The challenges of globalization., plus MymanagementLab with Pearson eText, Global Edition, 8/E.
Every student will purchase a personal code for access to the online platform from where all course management (eText, assignments, reviews, activities, etc) will take place.

The online learning platform is a mandatory tool to pass this course.
Text book, homework, assignment, tasks are in the platform.
The individual performance appraisal will be carried out through the work every student does in the platform. 

Very important notice: The code is personal and not transferable, once you purchase the code this cannot be neither returned, nor refunded. Unless you are 100% sure you are going to take the Comparative Economics class do not buy it. In case of any doubt contact your host Academic Coordinator.

Please note that Administration Department at ISA Study Center can not take payments by card. 

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V.I. How to succeed in this course
To successfully complete this course, attendance is essential as enables the necessary participation. Both spontaneous and prepared interaction are categories used in the evaluation.
Due to the variety of topics covered in this course, come prepared. Listening to lectures, watching videos and participating in class activities and discussions is much more effective than reading someone else’s notes or watching a video later. Remember that active and meaningful participation is taken into account as part of the evaluation. Reading prior to the class sessions is essential to keep track of the course due to all the material that will be covered and the pace. 
Becoming an active learner is one of the best ways to finish successfully this course: come always prepared to class: use the syllabus to be aware about will be covered or due in class, do all assignments before class, review before the class and be organized. 

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VI. Grading scale
Final grades will be calculated according to the following scale:

Grading Scale (%)

94-100         A

90 – 93        A-

87 – 89        B+

84 – 86        B

80 – 83        B-

77 – 79        C+

74 – 76        C

70 – 73        C-

67 – 69        D+

64 – 66        D

60 – 63        D-

0 – 59          F

Grade dispute: 
The deadline for claiming grades is 30 days from the receipt of the certificate at the university of origin.

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VII. Course policies

VII.I. Attendance
Class attendance is mandatory and is taken every class day and reflected in the course attendance sheet. 
An 85% attendance rate is required for the successful completion of the course. Perfect attendance will be taken positively into account in the participation section. 
If a student exceeds this limit, 1 point will be taken off of the final grade (Spanish grade). Reaching a 20% of unexcused absences means that the transcript for this subject will show “not attended course”. 
Excused absences: Medical Certificates that will be considered only if issued by a physician (not notes from the family explaining the student’s absence). The certificates must include the exact dates for which a student should be excused for having missed classes. Courses cannot be audited, so attendance is possible only for students enrolled in a specific class. 
Punctuality: Students are expected to arrive on time to class and to return directly to class after class breaks. Arriving 10 minutes late (or more) and/or early class departures are considered unexcused absences and will be taken into account as half an absence. 
 
Attending class is not only the presence in the classroom. The professor will encourage active participation in the course and it will be taken into account as part of the evaluation.  

Auditors: Courses cannot be taken as auditors, thus attendance is possible only for students enrolled in a specific class.

VII.II. Conduct in class
Students who actively participate in classroom activities and who maintain a professional and respectful attitude will be evaluated positively. Students must not eat or use laptops during the class (unless specifically authorized by the teacher).  

VII.III. Late work 
One half point will be taken off (from the learning activities grade) for homework that is submitted late repeatedly. Late assignments will be corrected but will not be graded. 
Missing a class does not release the student from completing the homework assigned or studying the topics covered in class that day.

VII.IV. Make-up Exams
If a student cannot be present for an examination for a valid reason (see V.II.) and approved by the professor and academic direction, a make-up exam will be given.

VII.V. Exam retention
After exams are graded, the teacher will review the examination with the class and collect all exams. The exams will be retained for one semester following the current one, and then they will be destroyed.

VII.VI. Academic Honesty
Students are expected to act in accordance with their university standards of conduct concerning plagiarism and academic dishonesty.

VII.VII. Special accommodations 
Students with special needs who require reasonable accommodations, special assistance or specific aid in this course (either for properly making-up classes, taking exams, etc.) should direct their request to Academic Coordination during the first days of the course.

Teaching staff is required to report any disclosures harassment or violence of any kind.