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ECON206 The World Economy

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.

Paper title The World Economy
Paper code ECON206
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period First Semester
Domestic Tuition Fees (NZD) $813.45
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

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Prerequisite
(BSNS 104 or BSNS 113) and ECON 112
Schedule C
Arts and Music, Commerce, Science
Contact
economics@otago.ac.nz
Teaching staff
Convenor and Lecturer: Arlene Ozanne
Textbooks
Husted, S. and Melvin, M. (2013) International Economics (International Edition), 9th ed., Pearson.
Graduate Attributes Emphasised
Global perspective, Interdisciplinary perspective, Lifelong learning, Scholarship, Communication, Critical thinking, Cultural understanding, Ethics, Environmental literacy, Information literacy.
View more information about Otago's graduate attributes.
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

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Timetable

First Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
Blackboard

Lecture

Stream Days Times Weeks
Attend
L1 Monday 16:00-16:50 9-15, 17-22
Thursday 16:00-16:50 9-15, 17-22

Tutorial

Stream Days Times Weeks
Attend one stream from
T1 Monday 11:00-11:50 11, 13, 15, 18, 20, 22
T2 Monday 12:00-12:50 11, 13, 15, 18, 20, 22
T3 Tuesday 12:00-12:50 11, 13, 15, 18, 20, 22
T4 Wednesday 09:00-09:50 11, 13, 15, 18, 20, 22
T5 Thursday 09:00-09:50 11, 13, 15, 18, 20, 22

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 course applies the economic theory you have covered in both BSNS 113 and ECON 112 to issues affecting the world economy, though some new models may also be introduced. More specifically, we shall examine the ideas and institutions that formed the world economy and explore major current issues affecting the world today. The topics are arranged into three main sections: core ideas and concepts, issues in international monetary relations and issues in international trade relations.
The first section covers the core theory of international trade, the effects of tariffs, exchange rates and exchange rate regimes, and briefly surveys the history of the international monetary system. The second section highlights implications of a countryÔÇÖs choice of foreign exchange regime; currency crises and issues surrounding currency areas. The third section covers sources of comparative advantage, arguments for and against free trade, multilateral versus regional trading arrangements and the importance of international trade in New Zealand.

Paper title The World Economy
Paper code ECON206
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period Second Semester
Domestic Tuition Fees Tuition Fees for 2018 have not yet been set
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

^ Top of page

Prerequisite
(BSNS 104 or BSNS 113) and ECON 112
Schedule C
Arts and Music, Commerce, Science
Contact
economics@otago.ac.nz
Teaching staff
Convenor and Lecturer: Arlene Ozanne
Lecturer: Alan King
Textbooks
Husted, S. and Melvin, M. (2013) International Economics (International Edition), 9th ed., Pearson.
Graduate Attributes Emphasised
Global perspective, Interdisciplinary perspective, Lifelong learning, Scholarship, Communication, Critical thinking, Cultural understanding, Ethics, Environmental literacy, Information literacy.
View more information about Otago's graduate attributes.
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 world of growing 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.

^ Top of page

Timetable

Second Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
Blackboard

Lecture

Stream Days Times Weeks
Attend
L1 Monday 15:00-15:50 28-34, 36-41
Wednesday 15:00-15:50 28-34, 36-41
Thursday 15:00-15:50 28-34, 36-41

Tutorial

Stream Days Times Weeks
Attend one stream from
T1 Monday 09:00-09:50 30, 32, 34, 37, 39, 41
T2 Monday 10:00-10:50 30, 32, 34, 37, 39, 41
T3 Wednesday 09:00-09:50 30, 32, 34, 37, 39, 41
T4 Wednesday 11:00-11:50 30, 32, 34, 37, 39, 41