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    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.

    Since the beginnings of modern capitalism in the 18th century, the history of economic thought has developed in the context of a rapidly changing world economy. The role of profit and power in this history can shed light on some of today’s most pressing issues.

    This paper explores the origins of the neoclassical economic theory covered in BSNS 113, how it came to dominate competing schools of thought, and relates this outcome to issues affecting the world economy today. More specifically, we examine historical economic debates and the context that animated them, as well as their implications for major current issues affecting the world today. Topics covered are arranged into two main sections: history of economic thought and issues in international monetary and trade relations.

    About this paper

    Paper title The World Economy
    Subject Economics
    EFTS 0.15
    Points 18 points
    Teaching period Semester 2 (On campus)
    Domestic Tuition Fees ( NZD ) $993.75
    International Tuition Fees Tuition Fees for international students are elsewhere on this website.
    Prerequisite
    One of BSNS 104, BSNS 113 or PTWY 111
    Schedule C
    Arts and Music, Commerce, Science
    Contact
    economics@otago.ac.nz
    Teaching staff

    Co-ordinator and lecturer: Trent Smith

    Lecturer: Aleisha Lord

    Textbooks

    Heilbroner, Robert L. (1999) The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers, 7th ed., Touchstone.

    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

    Students who successfully complete this paper should have:

    • A critical perspective on current and historical schools of thought in economics
    • A general understanding of the international monetary system and international trade relations
    • 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
    • Learned to analyse current issues and policy debates in this area and be able to assess and critique international monetary and trade policies

    Timetable

    Semester 2

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

    Lecture

    Stream Days Times Weeks
    Attend
    A1 Tuesday 13:00-13:50 29-35, 37-42
    Wednesday 13:00-13:50 29-35, 37-42
    Thursday 09:00-09:50 29-35, 37-42

    Tutorial

    Stream Days Times Weeks
    Attend one stream from
    A1 Wednesday 11:00-11:50 34, 41
    A2 Wednesday 14:00-14:50 34, 41
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