The World Economy

University of Otago

Course Description

  • Course Name

    The World Economy

  • Host University

    University of Otago

  • Location

    Dunedin, New Zealand

  • Area of Study

    Economics, International Economics, International Studies

  • Language Level

    Taught In English

  • Prerequisites

    BSNS104 and ECON112

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    The development of the world economy and ways in which different economies impinge on each other. Provides a broad perspective on the structure of the world economy and an introduction to some important current issues.

    This paper applies the economic theory you have covered in both BSNS 104 and ECON 112 to historical and current issues in the world economy. Some new models may also be introduced. This paper discusses the ideas and institutions that formed the world economy and explores current globalisation issues. The topics are divided into two main sections: international monetary relations and international trade relations. The first section highlights developments in the international monetary system (including the gold standard and Bretton Woods systems); implications of a country's choice of foreign exchange regime; currency crises; and issues surrounding single currency areas like the Euro. The second section covers issues about globalisation: mercantilism versus economic liberalism; the World Trade Organisation (WTO) versus regional trading arrangements; and the importance of international trade in New Zealand.

    Learning Outcomes
    Upon successful completion of this paper:
    -Students should have a general understanding of the international monetary system and international trade relations
    -Students should develop both knowledge and appreciation of applying general micro- and macro- economic principles and theory in evaluating behaviour and interactions in our growing world of economic integration
    -Students should learn to analyse current issues and policy debates in this area and be able to assess and critique international monetary and trade policies from a more knowledgeable perspective

    Husted, S. and Melvin, M. (2013) International Economics (International Edition), 9th ed., Pearson.

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Some courses may require additional fees.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.