Contemporary Issues in the Global Economy

USF Course Code: ECO 4935

Prerequisite: none; taught in English.

Students: ISA students.

Contact hours: 45

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I. Course Description:
For four decades we have witnessed a trend towards globalization. Are we facing the beginning of process of deglobalization? This course provides a comprehensive analysis following the views, forecasts and policy prescriptions of top international economists on the economic measures that have been taken. Students will also methodically examine the reason for the policies undertaken, immediate consequences and the long term effect. 

Experiential learning component: 
This courses provides first hand approach to the subject: 
1)    Optional distance practicum in Global Intelligence Work with students from other countries under the guidance of professors. Participants will collaborate on researching and producing a report from the Internet (out of a wide selection of international media and think tanks) on all major topics with a global impact. 
2)    Experiential Learning Friday (date to be announced): students will visit the regional department of Economy or a regional top startup accelerator or alternatively there will be an on-line connection. 
3)    The course will also have relevant guest lecturers for the topic. 

Schoology will be the primary Learning Management System used to facilitate this course. Students will have access immediately after the placement test. 

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III. Course contents:

PART I – THE IMPACT OF THE PANDEMIC ON THE MAJOR PLAYERS
How the crisis has unfolded in each country and the way in which they have responded: 
from relief assistance and short term fiscal and monetary responses, to structural changes in the way the economy works: from the banking system to the welfare state, healthcare and education at all levels, including changes in market regulations plus labor relations & work patterns, with a special attention given to the shifting balance between the public and the private sector. 

1.1.    China.
1.2.    USA.
1.3.    European Union.
1.4.    Japan.
1.5.    South Korea
1.6.    Russia

PART II – THE UNFOLDING CRISIS ON DEVELOPING COUNTRIES
Different countries, with different economic and technological levels have reacted differently, and culture and political systems have played a crucial role in the immediate response to the threat to public health, but also in the economic policies put in place to contain the economic downturn. 

2.1.     India.
2.2.     Brazil.
2.3.     Mexico.
2.4.     South Africa. 
2.5.     Iran.
2.6.     Turkey. 
2.7.     The Coronavirus and the debt trap: the debt risks for sovereigns and corporates in 
    many developing economies. 

PART III – THE EFFECTS ON THE GLOBAL ECONOMY: A GLOBAL CRISIS OR A CRISIS OF GLOBALIZATION? 
3.1.    The global trading system 
3.2.     Global value chains 
3.3.     Travel and tourism 
3.4.     The international monetary system: the dollar, the euro, the yuan and the yen 
3.5.    Global financial flows and the role of the central banks 
3.6.     Migration and workers across borders 
3.7.     The global economic institutions in the thick of the crisis: IMF, World Bank and World Trade Organization / the G-20 
3.8.     Is multilateral cooperation dead or alive? 

PART IV – ETHICAL QUESTIONS AND ECONOMIC MANAGEMENT IN TIMES OF PANDEMICS. 
Policymakers, regulators, bankers, employers, unions, heads of international 
organizations are facing a once-in-a-life-time situation where decisions affecting the lives
and well-being of millions are without precedent. 

4.1.     What are the ethical implications when deciding between health and the  
economy, self-protection and solidarity, trust or suspicion, nation and international cooperation, closed borders or open exchanges; the short-run and the long-term. 
4.2.     Will capitalism, the corporation and the working-place survive as we know them? 
4.3.     What are the civilizational consequences for tomorrow of decisions being taken today? 

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IV. Bibliography: 
Compiled by lecturer.

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:

Matrícula de Honor = 10
Sobresaliente = 9 – 9,9
Notable = 7 – 8,9 
Aprobado = 5 – 6,9
Suspenso = 0 – 4,9
No presentado = Student attended class but did not complete the exams
No asistencia = Student exceeded the maximum number of allowed absences

Please find as a reference the following grading scale conversion. However, it is ultimately the responsibility of the student’s home university or institution to determine the final grade equivalencies. 
Matrícula de Honor = A+                                      
Sobresaliente = A                                                    
Notable = B                                                             
Aprobado =C  
Suspenso = F
No presentado = Incomplete (attended classes but did not take the final exam)            
No Asistencia = Incomplete (enrolled in the course but did not attend class)

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.