Course Syllabus
ECON 433: Advanced International Trade Theory and Policy
Description
This course will cover advanced topics in international trade theory and policy. It is composed of three distinct units. Unit One sets up foundational material, in particular the Ricardian Theory of Comparative Advantage as well as a “Workhorse” Model that will be the basis of our advanced theoretical analysis. Unit Two develops the Heckscher-Ohlin theory of trade, as well as some more contemporary models related to imperfect competition and factor mobility. The course concludes in Unit Three, where the more abstract theories we have developed thus far are blended into the study and evaluation of government trade policy.
Objectives
At the end of this course, you will be able to:
- Describe the theoretical reasons why countries engage in international trade
- Solve (graphically or numerically) for the equilibrium in simple trade models, and see how changes in the underlying economic factors that will change that equilibrium
- Identify the gains from trade a country enjoys when it participates in world markets
- Discuss why, even though a country will gain overall from trade, some groups/individuals within a country may not gain as much as others, or may even become worse off
- Analyze the effects of government policies on trade flows and economic wellbeing
- Describe in detail the trade patterns/policies of one specific country. (This will be in a short end-of-semester capstone project.)
Organization
This course includes 12 lessons.
For each lesson, you will complete the following activities and assignments:
- Explore online course content
- Read a few assigned readings
- Answer practice questions
In addition, you will complete reading quizzes, drawn entirely from the textbook. Six problem sets – inspired largely from the lecture materials – will be completed on an alternating weekly cycle. An end-of semester capstone project will have you examining the trade patterns/policies of a particular country. You will also take two midterm exams and one comprehensive final exam.
Online Learning and Attendance
This course has been developed to promote asynchronous learning. The instructor and students do NOT meet on a designated day and time each week. For each lesson, there is a time frame to complete all activities and assignments, and you may work at your own pace within that time frame. However, you must adhere to the due dates outlined on the Calendar. (Due dates can also be viewed under the Syllabus tab.) You should log into the course daily to check for updates, review lessons, and participate in activities.
Texts and Other Materials
There is one required text.
- Robert C. Feenstra and Alan M. Taylor. International Trade, 3rd edition or later. Worth Publishers.
- This class is not specific to any one version of the text. The text is currently in its 5th edition. Slightly older versions are still acceptable if you can find them for sale, new or used. The following ISBNs are acceptable:
- 3rd edition: 978-1429278447
- 4th edition: 978-1319061739
- 5th edition: 978-1319218454
- This class is not specific to any one version of the text. The text is currently in its 5th edition. Slightly older versions are still acceptable if you can find them for sale, new or used. The following ISBNs are acceptable:
Other required article readings and videos will be posted to the course website.
You will need to have regular access to a scanner for exams. You will submit these by completing your work on paper (such as drawing graphs) and then scanning your papers to create an electronic file and submitting the electronic file to the appropriate dropbox on the course website. Please make sure to familiarize yourself with the submission procedure and the appropriate deadlines.
Library Services
Penn State Libraries provides a wide variety of services and resources. To learn how to take advantage, refer to the Online Student Library Guide at http://guides.libraries.psu.edu/onlinestudentlibraryguide. This guide serves as your starting point for access to all that Penn State Libraries can offer you as an online student. Use this guide if you have questions on library services offered to you, how the library can help you, how to use the library, or what resources you can access via the library! The guide will connect you to important pages and resources within Penn State Libraries and save time from you searching for the information you need.
Grading
Final letter grades will be assigned based on the scale below.
| LETTER GRADE |
MINIMUM PERCENT |
|---|---|
| A | 93 |
| A- | 90 |
| B+ | 87 |
| B | 83 |
| B- | 80 |
| C+ | 77 |
| C | 70 |
| D | 60 |
| F | 0 |
Due Dates
Please be aware that Canvas follows the Eastern Time (EST) time zone. Assignment due dates adhere to this time zone, and it is your responsibility to submit them accordingly. If you are outside of the EST time zone, you can set your Canvas account to sync to it. Refer to the Set a Time Zone article in the Canvas Guide.
All assignments are due by 11:59 PM Eastern Time on the date indicated on the Calendar. (Due dates can be also be viewed under the Syllabus tab.) Assignments will be available for submission until 4:00 AM Eastern Time the following day, but any submissions made between 11:59 PM and 4:00 AM will be marked late and points may be deducted at the instructor's discretion, up to and including all points, resulting in a zero. As a general rule, you will NOT be able to go back and make up missed assignments. It is your responsibility to keep up with your assignments. Students with an excused absence (e.g., hospitalization, jury duty, family emergency, or military service) may be asked to produce proper documentation in order to make up graded work. All make-up work is at the discretion of the instructor.
Veterans and currently serving military personnel and/or spouses with unique circumstances (e.g., upcoming deployments, drill/duty requirements, disabilities, VA appointments, etc.) are welcome and encouraged to communicate these, in advance if possible, to the instructor in the case that special arrangements need to be made.
Notes
- To Do List: Some assignments may not appear in the To Do list under the Home tab. Use the Calendar or Syllabus to ensure that you are fully aware of assignment due dates.
Valid Excuses
A major advantage of an online course is the flexibility it affords students for doing assignments. All assignments are intended to be accessed and completed within a window of several days duration, and can be done from anywhere in the world. (The necessary technology, even if you are not at home, will frequently be available at internet cafes, copy shops, or libraries.) The dates of these assignments have been provided to you well ahead of time in the course calendar. Given this flexibility, an unexpected event that makes it impossible for a student to complete an assignment on time should be very rare. It is expected that students plan ahead and allocate their time accordingly
In general, there will be no extensions given on the weekly lesson assignments (quizzes). This is because the course is already set up to accommodate occasional extenuating circumstances by dropping the lowest two quizzes and the lowest single problem set grade. Early access to exams or extensions on exams will only be given in the case of a valid conflict, and a student must inform the instructor as early as possible if they anticipate being unable to complete the exam within the assigned window. Valid conflicts are items that make it impossible for a student to complete the assignment at the scheduled time, primarily including illness, hospitalization, or family emergencies. Travel plans (except as required by university-sponsored activities) DO NOT constitute a valid conflict. Students should plan to be available online until they finish the assignment. Encountering technical problems at the last minute is not a valid conflict. For more information on valid excuses, please see the Department of Economics policy on valid excuses, which is available at the Department website.
Assignments
Basic information about each assignment group is provided below. For detailed directions about an individual assignment, see the assignment information under the Modules tab.
| ASSIGNMENT GROUP |
WEIGHT |
|---|---|
| Discussions | 20% |
| Reading Quizzes | 10% |
| Midterm Exams (2*20%) | 40% |
| Final Exam | 20% |
| Capstone Project | 10% |
| Extra Credit | 1% |
| Total | 101% |
Discussions (20%)
There are six discussions due throughout the semester. These will give students an opportunity to explore the economic concepts covered in this course in terms of real-world examples.
Quizzes (10%)
There are ten quizzes made up of multiple choice questions. These are based on the readings only. The lowest two quiz scores will be automatically dropped at the end of the term.
Midterm Exams (2*20% = 40% total)
There are two midterm exams. These exams will be short answer questions, similar to those of the ungraded practice problem sets. You will need to write, scan, and upload your answer document into the exam. These questions will be a mix of quantitative and short essay. Midterm 2 will only explicitly ask questions on material covered after Midterm 1. The exams will be based predominantly on lecture materials.
Final Exam (20%)
At the end of the semester, you will take a comprehensive final exam. The exam covers all lessons from the course, but with an emphasis on the lessons after the second midterm exam. The exam format will be the same as the midterms, with a mix of quantitative/short answer and essay questions.
Capstone Project (10%)
During the final week of the semester, you will write a short essay on a (somewhat) randomly selected country. You will be asked to describe trade flows and recent trade policies of your country, and in particular relate your research on that country to the theoretical principals we have discussed at length in class.
Extra Credit (1%)
There will be a single quiz early in the course, made up of multiple-choice questions, based on an optional reading.
University Policies
Academic Integrity
According to Penn State policy G-9: Academic Integrity, an academic integrity violation is “an intentional, unintentional, or attempted violation of course or assessment policies to gain an academic advantage or to advantage or disadvantage another student academically.” Unless your instructor tells you otherwise, you must complete all course work entirely on your own, using only sources that have been permitted by your instructor, and you may not assist other students with papers, quizzes, exams, or other assessments. If your instructor allows you to use ideas, images, or word phrases created by another person (e.g., from Course Hero or Chegg) or by generative technology, such as ChatGPT, you must identify their source. You may not submit false or fabricated information, use the same academic work for credit in multiple courses, or share instructional content. Students with questions about academic integrity should ask their instructor before submitting work.
Students facing allegations of academic misconduct may not drop/withdraw from the affected course unless they are cleared of wrongdoing (see G-9: Academic Integrity). Attempted drops will be prevented or reversed, and students will be expected to complete course work and meet course deadlines. Students who are found responsible for academic integrity violations face academic sanctions, which can be severe, and put themselves at jeopardy for other outcomes (see G-9: Academic Integrity).
Disability Access
Penn State welcomes students with disabilities into the University's educational programs. Every Penn State campus has an office for students with disabilities. The Student Disability Resources website provides contact information for every Penn State campus at http://equity.psu.edu/student-disability-resources/campus-offices. For further information, please visit the Student Disability Resources website at http://equity.psu.edu/student-disability-resources.
In order to receive consideration for reasonable accommodations, you must contact the appropriate disability services office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation described at http://equity.psu.edu/student-disability-resources/applying-for-services. If the documentation supports your request for reasonable accommodations, your campus’s disability services office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.
Counseling and Psychological Services
Penn State's Counseling and Psychological Services (CAPS) office offers residential and distance-based Penn State students non-emergency mental health services in the form of case management, community resource referrals, supportive listening, care giver support, and much more.
Students may request assistance from CAPS regarding a variety of common mental health issues, including anxiety, depression, relationship difficulties, and stress. CAPS services are designed to enhance students' ability to fully benefit from the University environment and academic experience. Call CAPS at 814-863-0395 (8 am-5 pm, Monday-Friday EST) or submit an inquiry online at https://studentaffairs.psu.edu/form/caps-contact-form to schedule an appointment with a mental health advocate, who can help you address mental health concerns that may interfere with your academic progress or social development. This appointment will include a one-on-one session that can be conducted via telephone, teleconference (Skype, FaceTime, etc.), or locally at Penn State University Park. For more information on services provided through CAPS, please visit the Penn State CAPS website at http://studentaffairs.psu.edu/counseling/. Students enrolled at the World Campus are also encouraged to visit its Mental Health Services page at http://student.worldcampus.psu.edu/student-services/mental-health-services.
Reminder: These services are for non-emergencies only. If you or someone you know is experiencing a crisis situation, please call your local crisis center or 911.
Nondiscrimination
Penn State is committed to equal access to programs, facilities, admission and employment for all persons. It is the policy of the University to maintain an environment free of harassment and free of discrimination against any person because of age, race, color, ancestry, national origin, religion, creed, service in the uniformed services (as defined in state and federal law), veteran status, sex, sexual orientation, marital or family status, pregnancy, pregnancy-related conditions, physical or mental disability, gender, perceived gender, gender identity, genetic information or political ideas. Discriminatory conduct and harassment, as well as sexual misconduct and relationship violence, violates the dignity of individuals, impedes the realization of the University's educational mission, and will not be tolerated. For further information, please visit the Affirmative Action Office website at https://affirmativeaction.psu.edu/.
Reporting a Bias Incident
Penn State takes great pride to foster a diverse and inclusive environment for students, faculty, and staff. Acts of intolerance, discrimination, or harassment due to age, ancestry, color, disability, gender, gender identity, national origin, race, religious belief, sexual orientation, or veteran status are not tolerated and can be reported through Educational Equity via the Report Bias webpage at http://equity.psu.edu/reportbias/.
TEACH Act
The materials on the course website are only for the use of students enrolled in this course for purposes associated with this course and may not be retained or further disseminated.
University Emergency Procedure
In the event of a University-wide emergency, the course may be subject to changes. Exigent circumstances may require alternative delivery methods, class materials, and interactions with the instructor and/or classmates. In addition, there may be revisions to grading policies and the Calendar, including assignments and their due dates.
In the event of a University-wide emergency, please refer to the Canvas website at https://psu.instructure.com for specific information related to the course. For more general information about the emergency situation, please refer to the Penn State website at https://www.psu.edu or Penn State News website at https://news.psu.edu.
To register with PSUAlert, a service designed to alert the Penn State community when situations arise that affect the ability of a campus to function normally, please go to the PSU Alert website at https://psualert.psu.edu/. Subscribers can receive alerts by text message to cell phones, and also can elect to have alerts sent to an email address.
Syllabus Subject to Change
The class will likely adhere to the information outlined in this Syllabus and the Calendar, but adjustments may be made based on what actually transpires during the semester. Remaining in the course after reading this Syllabus will signal that you accept the possibility of changes and responsibility for being aware of them.
Course Summary:
| Date | Details | Due |
|---|---|---|