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University of Western Ontario
Economics 3370b Section 570
Instructor: Dr. Jae-Dong Han
Phone 433-3491, Ext. 4372
Office: DL Room # 320
Class Hours and Location:
Monday 1:30- 3:30 pm at W168
Friday 1:30 -2:30 pm at SA150
Course Website: http://instruct.uwo.ca/economics/370b-570
Office Hours: M/W 10:30 am -12:00 pm
The study of foreign exchange markets and countries' policies towards balance of payments adjustment. Topics include balance of payments accounting, alternative exchange rate regimes, currency markets and hedging, balance of payments adjustment issues, international investment, international liquidity, and the third world debt crisis.
Dominic Salvatore, International Economics, 9th edition, John Wiley and Sons, Co.
Other reference materials are coming from:
University of Southern California, 2003 (ISBN: 0-471-39530-7)
An additional updated list of advanced readings will be given in class. The amount will be substantial. All material covered in class is considered required.
Course Website: http://instruct.uwo.ca/economics/370b-570/
This is a complex course with a variety of contents compacted into a short-term format. Communication is crucial. The course website will post the course materials and announcements, and thus play an important role in this matter. I will make every effort to post the updated power point presentation slides for the upcoming class 12 hours prior to the class. The students are required to read the course materials in advance and are encouraged to participate in class discussion.
1) Grading Scheme:
-One midterm test(110 minutes) 35%
- Final Examination (180 minutes) 55%
- Research Report/paper 10%
Total final grade 100%
Test and Exam Dates:
Midterm test: in class Feb. 9
Final Exam During final exam period (3 hours), date and time TBA by the Registrar's Office
2) Investigation Report/Paper:
(1) How to choose the topic?
The instructor will post the list of topics on the course website, from which a student can choose. Students are welcome to come up with new topics. However, the topic must be discussed with the instructor by October 22nd before it becomes a legitimate topic for the paper and is to be put on the list.
(2) How to write the report/paper?
The report/paper should start with the theoretical part, which is to be related to the class lectures and course materials. And then it would extend to the specific issue or topic.
Some sample topics and PPP are shown on the course website. The reference material section of the course website will be helpful in your search for a topic and statistics although it has only a
subset of vast financial information available on web.
It should be in the format of the Power Point Presentation with a minimum length of 15 slides. It should also include a separate reference section, which specifies reference sources, such as the title of books, web addresses and links, and so forth.
The report is due in the last class. Late submission will NOT be accepted unless an arrangement is made with the instructor one week prior to the deadline. You should submit both the diskette containing the power point slides as well as the hard copy of the power point slides (one slide on one page).
1) Tests and Examinations
Students are expected to complete all required evaluation components in order to receive a grade in this course. Students with course conflicts and approved inter-university athletic conflicts, or students unable to write an exam or test based on medical or compassionate grounds, may apply to be excused.
There is no make-up midterm test. If a student misses a test, and has a valid document for it, s/he must see the counselor at the Academic Dean’s office immediately. The instructor will be advised on the validity; if an academic concession is granted, the midterm test weight will be reassigned to the final exam.
Students who are excused from writing the final exam will receive an “Incomplete” (INC) in the course, and will be required to write the final exam at the next available opportunity (likely in the following term or year when the course is offered again).
Requests to be excused for medical or compassionate grounds must always be accompanied by appropriate documentation – either with the request or as soon as possible after the fact. A Medical Excuse Documentation Form is available from the Academic Dean’s office.
Students who have any problems that may hinder their academic performance are encouraged to discuss these issues with the instructor or the appropriate College official before exams.
The UWO Academic Calendar states: “Any student who, in the opinion of the instructor, is absent too frequently* from class or laboratory periods in any course, will be reported to the dean (after due warning has been given). On the recommendation of the department concerned, and with the permission of the dean, the student will be debarred from taking the regular examination in the course”. * More than 25% of classes missed are considered too frequent.
3) Prerequisites & Antirequisites
Antirequisite(s):Economics 2164a/b, Economics 3353a/b
Prerequisite(s): Economics 2221a/b.
The student is responsible for ensuring he/she has successfully completed the prerequisites for this course. Lack of prerequisites cannot be used as grounds for an appeal in this course. You also are responsible for ensuring that this course is not an antirequisite to another course that you have already taken.
Unless you have either the requisites for this course or written special permission from your Dean to enroll in it, you may be removed from this course and it will be deleted from your record. This decision may not be appealed. You will receive no adjustment to your fees in the event that you are dropped from a course for failing to have the necessary prerequisites.
4) Policy for the Use of Electronic Device
The use of personal computers during examinations will not be permitted. This prohibition also applies to any programmable calculators that allow storage of programmed information. When in doubt, check with the professor at least 24 hours prior to an exam. No dictionaries are allowed, either
5) The University Statement on Academic Offences
Scholastic offences are taken seriously and students are directed to read the appropriate policy, specifically, the definition of what constitutes a Scholastic Offence, at the following Web site: http://www.uwo.ca/univsec/handbook/appeals/scholoff.pdf.) All required papers may be subject to submission for textual similarity review to the commercial plagiarism detection software under license to the University for the detection of plagiarism. All papers submitted for such checking will be included as source documents in the reference database for the purpose of detecting plagiarism of papers subsequently submitted to the system. Use of the service is subject to the licensing agreement, currently between The University of Western Ontario and Turnitin.com (http://www.turnitin.com.). Computer-marked multiple-choice tests and/or exams may be subject to submission for similarity review by software that will check for unusual coincidences in answer patterns that may indicate cheating.
6) Accommodation for Religious Holidays
Please refer to the Senate Policy on Accommodation for Religious Holidays http://www.uwo.ca/univsec/handbook/. (See Policy on Academic Rights and Responsibilities.).
The Calendar of Religious Accommodation for the 2008-09 academic year is available on the Equity & Human Rights Services ( website: http://www.uwo.ca/equity/docs/mfcalendar.htm,) This calendar shows religious holidays for which Equity and Human Rights Services has confirmed students of different faiths may require academic accommodation.
7) Important Dates
January 26 Lunar Calendar New Year
Overview of the World Financial Flows
Chapter 13: Balance of Payments
Chapter 14: Foreign Exchange Markets and Exchange Rates
Chapter 15: Exchange Rate Determination
Chapter 16: The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates
Chapter 17: The Income Adjustment Mechanism and Synthesis of Automatic Adjustments
Chapter 18: Open-Economy Macroeconomics: Adjustment Policies
Chapter 19: Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply
Chapter 20: Flexible versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination
Chapter 21: The International Monetary System: Past, Present, and Future