Contacts | Class structure | Text | Podcasts | Questions | Requirements | Schedule | Policies | Readings |
Classes: | 8/26 | 8/28 | 9/4 | 9/9 | 9/11 | 9/16 | 9/18 | 9/23 | 9/25 | 9/30 |
10/2 | 10/7 | 10/9 | 10/16 | 10/21 | 10/23 | 10/28 | 10/30 | |||
11/4 | 11/6 | 11/11 | 11/13 | 11/18 | 11/20 | 11/25 | 12/2 | 12/4 |
CONTACTS
Alan Deardorff:
Office: 5304 Weill (But I may never be there, unless you ask for an in-person appointment)
Phone: 734-239-5914 (My cell, but I prefer you to use email)
Office Hours:
Mondays and Thursdays 10-11 AM via Zoom
E-mail: alandear@umich.edu
Feel free to e-mail me with questions or to request a virtual meeting outside of my office hours.
Zoom Links: (for classes and office hours)
Class sessions:
https://umich.zoom.us/j/95778615598
Passcode = 541
Office hours: Sign in through Canvas / Zoom
Course Home Page:
https://websites.umich.edu/~alandear/courses/541/541.html
PURPOSE: | The aim of this course is to teach you a lot about the economics -- and a little about the institutions -- of international trade and trade policy. The course is companion to SPP 542, International Finance Policy, which deals with international macroeconomic topics such as the balance of trade and balance of payments, determination of exchange rates, and international macroeconomic policies. Each course also includes some bare essentials of the other course so that if you take only one of them, you won't be lost in the world economy.
The course is mainly about trade policy. You will learn what trade policies are, how they are used by the United States and other countries, and how their use is restricted by international agreements. More importantly you will learn how to use economic modeling to understand the effects of trade policies and to quantify those effects. Along the way you will also learn about the institutions of the world economy, especially those that have to do with trade. And you will learn a little bit about the economic theories of why nations trade, why economists argue that nations gain from trade, and why there are also losers from trade.
|
Prerequisite: | PubPol/Econ 555 or equivalent course in intermediate microeconomics |
Organization: | The course meets twice a week, Mondays and Wednesdays, 8:30-9:50 AM, online via Zoom. |
Room reserved: | While the class will meet only online, some of you may need a quiet place to access it if you need to be on campus for other courses. The registrar has reserved 1220 Weill Hall for your use during the MW 8:30-9:50 class time, and you are welcome to use that space to access the course with your own laptop. |
Jackson, John H., The World Trading System: Law and Policy of International Economic Relations, Second Edition, MIT Press, 1997, isbn #0-262-60027-7, out of print (see below).
NOTE on the Krugman, Obstfeld, Melitz text:
The most recent edition, the 12th, came out in 2022. I list page numbers for that and for the previous edition, the 11th. An earlier edition exists in a trade-only version that would be acceptable except that it excludes chapters on exchange rates and balance of payments, which I also assign, so I've made those available on Canvas.
NOTE on the Jackson text:
There are also many additional readings that are required. All are available under Files/Readings on Canvas, and are linked to on this syllabus. Many of the readings are also available free to the public on the web, through links included on this syllabus. A few readings are available through subscription sites, including ones subscribed to by U of M (e.g., JSTOR). And many (especially from news sources) are available only on Canvas.
Because of the speed with which issues evolve, readings selected in advance can never cover all of the latest developments. We will therefore spend time each week discussing recent news related to trade and trade policy. You should follow current issues of international trade policy by reading daily periodicals such as the Wall Street Journal, New York Times, or Financial Times or weekly publications such as Business Week or The Economist. Student subscriptions to these publications are available at reduced prices. I also post links to relevant news items on my personal website. We will devote some time each week to discussing the news.
PODCASTS
For the last siz years, the Peterson Institute for International Economics has provided weekly podcasts, Trade Talks, most of them featuring Soumaya Keynes of The Economist and PIIE scholar Chad Bown, discussing topics of international trade policy. I include links to a number of these at appropriate points in the syllabus marked Optional to Hear. I have not listened to many of them myself, but I've heard enough to know that they are valuable, if you can take the time to listen to them.
QUESTIONS ON READINGS
REQUIREMENTS
Requirements for the course consist of three graded short papers handed in during the term, graded weekly quizzes, and class participation. There is also a series of problem sets that you may wish to work through, though they will not be graded, and are not particularly relevant for the papers nad quizzes.
The weights on each of these requirements in determining your grade will be as follows:
Problem Sets | 0%
Papers | 45% | (15% for each of three papers)
| Quizzes | 40% | (4% for each of your top ten)
| Class participation | 15%
| |
Quizzes: | Due every Friday (except 11/29) | 11:59 PM (Accepted late to Sat 11:59 PM with 1 point penalty) |
Paper #1: | Wednesday, October 2 | 8:30 AM |
Paper #2: | Wednesday, November 6 | 8:30 AM |
Paper #3: | Wednesday, December 11 | 8:30 AM |
WRITING ASSISTANCE
I will grade your papers on both content and presentation, which means you should take full advantage of the Ford School resources for helping you with your writing. See http://fordschool.umich.edu/writing-center/ for more information, including links to the websites for signing up for advising appointments. This assistance is available to all students in Ford School courses, such as this, whether or not you are enrolled in a Ford School program. |
FORD SCHOOL POLICIES AND EXPECTATIONS
Ford School Public Health Protection Policy:
In order to participate in any in-person aspects of this course, including meeting with other students to study or work on your group papers, you must follow all the public health safety measures and policies put in place by the State of Michigan, Washtenaw County, the University of Michigan, and the Ford School. Up to date information on U-M policies can be found here. It is expected that you will protect and enhance the health of everyone in the Ford School community by staying home and following self-isolation guidelines if you are experiencing any symptoms of COVID-19.
Inclusivity: Members of the Ford School community represent a rich variety of backgrounds and perspectives. We are committed to providing an atmosphere for learning that respects diversity. While working together to build this community we ask all members to:
Accommodations for Students with Disabilities: If you believe you need an accommodation for a disability, please reach out to U-M Services for Students with Disabilities (SSD) office to help determine appropriate academic accommodations and how to communicate about your accommodations with your professors. Any information you provide will be treated as private and confidential. Student Mental Health and Well-Being Resources: The University of Michigan is committed to advancing the mental health and wellbeing of its students. We acknowledge that a variety of issues, both those relating to the pandemic and other issues such as strained relationships, increased anxiety, alcohol/drug problems, and depression, can directly impact students’ academic performance and overall wellbeing. If you or someone you know is feeling overwhelmed, depressed, and/or in need of support, services are available. You may access counselors and urgent services at Counseling and Psychological Services (CAPS) and/or University Health Service (UHS). Students may also use the Crisis Text Line (text '4UMICH' to 741741) to be connected to a trained crisis volunteer. You can find additional resources both on and off campus through the University Health Service and through CAPS. Academic Integrity: The Ford School academic community, like all communities, functions best when its members treat one another with honesty, fairness, respect, and trust. We hold all members of our community to high standards of scholarship and integrity. To accomplish its mission of providing an optimal educational environment and developing leaders of society, the Ford School promotes the assumption of personal responsibility and integrity and prohibits all forms of academic dishonesty, plagiarism and misconduct. Academic dishonesty may be understood as any action or attempted action that may result in creating an unfair academic advantage for oneself or an unfair academic advantage or disadvantage for any other member or members of the academic community. Plagiarism involves representing the words, ideas, or work of others as one’s own in writing or presentations, and failing to give full and proper credit to the original source. Conduct, without regard to motive, that violates the academic integrity and ethical standards will result in serious consequences and disciplinary action. The Ford School's policy of academic integrity can be found in the MPP/MPA, BA, and PhD Program handbooks. Additional information regarding academic dishonesty, plagiarism and misconduct and their consequences is available at: http://www.rackham.umich.edu/current-students/policies/academic-policies/section11#112. Use of Technology Students should follow instructions from their instructor as to acceptable use of technology in the classroom, including laptops, in each course. All course materials (including slides, assignments, handouts, pre-recorded lectures or recordings of class) are to be considered confidential material and are not to be shared in full or part with anyone outside of the course participants. Likewise, your own personal recording (audio or video) of your classes or office hour sessions is allowed only with the express written permission of your instructor. If you wish to post course materials or photographs/videos of classmates or your instructor to third-party sites (e.g. social media), you must first have informed consent. Without explicit permission from the instructor and in some cases your classmates, the public distribution or posting of any photos, audio/video recordings or pre-recordings from class, discussion section or office hours, even if you have permission to record, is not allowed and could be considered academic misconduct. Technology in this class: Regarding technology, you will of course be using it for our class meetings, since they are all online. You are welcome to use whatever devices you find helpful during class, such as looking up current news and other information relevant to class discussion. Quizzes will be open book, and you will be welcome to use online resources (but not other students) to help you, subject to the quiz time limit. In this class, contrary to what is stated above, not all course materials are confidential, because I post them on my publicly available website. Specifically, this syllabus and the associated list of readings, slides for each class, and the assignments are all available there. Therefore you are also free, if you wish, to share them with others. The questions that I provide on the readings for each class are also posted on my public website, as will my answers to those questions after the quizzes associated with them have been graded, so these too can be shared if you wish. Quiz questions and answers, however, should not be shared. Please review additional information and policies regarding academic expectations and resources at the Ford School of Public Policy at: https://intranet.fordschool.umich.edu/academic-expectations. |