Registry

Module Specifications

Current Academic Year 2012 - 2013
Please note that this information is subject to change.

Module Title	Global Economic Issues
Module Code	EF331
School	DCUBS
Online Module Resources
NFQ level	8	Credit Rating	5
Pre-requisite	None
Co-requisite	None
Compatibles	None
Incompatibles	None

Description

The purpose of this module is to examine issues in globalisation from an economics perspective. The course will introduce core international economics theory, as well as applying tools from micro and macroeconomics. Fundamental issues such as global growth, the impact of globalisation on income distributions, migration and environmental degradation will be examined. The course will emphasise ethical issues arising from globalisation and discuss policies to address these. While the focus is Economics, the course material will lend itself to interdisciplinary discussion, suited to the nature of the students' degree. Students are expected to attend lectures, participate in class discussion and complete an independent research project.

Learning Outcomes

1. Describe core theories of international trade and foreign direct investment and assess their strengths and weaknesses in light of empirical evidence.
2. Apply economic theory appropriately in addressing arguments surrounding issues of globalisation.
3. Assess equity/fairness issues surrounding globalisation and critically evaluate possible solutions.
4. Independently research case studies to substantiate arguments.

Workload	Full-time hours per semester
*Type*	*Hours*	*Description*
Lecture	24	No Description
Independent learning time	46	Reading in preparation for lectures
Assignment	35	Project - Reading related theory, independent research for case studies, write up
Independent learning time	20	Exam preparation
Total Workload: 125

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities

Content.
Topics 1 and 2 below will be covered in each year. Other material will be expected to vary over time depending on current events. Topics currently covered are 3,4 and 5. For all topics both theory and empirical evidence will be discussed..

1. International Trade Theory.
Development of core international trade theories, including the theory of Comparative Advantage, Hecksher Ohlin, the Stolper-Samuelson Theorem and 'New' International Theories. How does trade liberalisation affect economic growth? What makes for successful Regional Trade Agreements? What is the predicted impact of international trade on income distributions of trading partners? Why do the predictions of the free trade models fail to hold in reality?.

2. International Production.
Economic theories of FDI. What is the impact of multinational enterprise on the host nation? What conditions favour positive returns to the host nation?.

3. International Finance.
Models of Exchange rate determination: Monetary model, Mundell-Fleming model, Dornbush model, Redux model. What are the arguments for and against monetary union? Modelling uncertainty in financial markets: forward rates, impact of 'news' and risk premiums. International financial crises and contagion..

4. Environment.
Approaches of national and international bodies to counteract environmental degradation. Aspects considered may include: (i) is there a causal link between globalisation and environmental degradation (eg. global warming), environmental Kuznets curve; (ii) how can we model global environmental issues in order to shed light on cooperative international solutions and (iii) how are international agreements upheld in the presence of global commons problems and uncertainty over the costs and benefits of actions. Is there a need for a new international agency specifically devoted to environmental control?.

5. Migration.
What are the implications of migration for the countries of outflow and inflow? To what extent is brain drain a problem? Under what circumstances could brain gain result from outward migration? Is it observed in practice? How do countries and regions regulate migration? Should they do so?.

Assessment Breakdown
Continuous Assessment	50%	Examination Weight	50%

Course Work Breakdown
Type	Description	% of total	Assessment Date
Project	Independent research project.	50%	Week 10

Reassessment Requirement
Resit arrangements are explained by the following categories; 1 = A resit is available for all components of the module 2 = No resit is available for 100% continuous assessment module 3 = No resit is available for the continuous assessment component
This module is category 1

Indicative Reading List

Krugman, P and M Obstfeld: 0, International Economics: Theory & Policy,
Stiglitz, Joseph: 0, Globalisation and its Discontents,
Moosa, Imad A: 0, Foreign Direct Investment: theory, evidence and practice,
Copeland, Laurence: 0, Exchange Rates and International Finance,
Kutting, Gabriela: 0, Globalization and the environment: greening global political economy,
Ostrom, Elinor: 0, The drama of the commons,
Daniele Joly: 0, International migration in the new millennium: global movement and settlement,

Other Resources

1347, Website, 0, Links to sites of relevance will be available from Moodle,

Array

Programme or List of Programmes

BSSAO

Study Abroad (DCU Business School)

EPL

BA in Economics, Politics and Law

EPLYA

BA in Economics, Politics and Law

Timetable this semester: Timetable for EF331

Date of Last Revision