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Official Course
Description: MCCCD Approval: 05/23/06 |
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ECN213 2007
Spring – 2008 Fall |
L+L |
3 Credit(s) |
3 Period(s) |
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The World Economy |
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An analysis of the economic interdependence among nations, with emphasis on international trade and finance. Consideration given to the role and function of the multinational enterprise. Prerequisites: ECN212 or permission of instructor. |
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Go to Competencies Go to Outline
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MCCCD Official Course Competencies: |
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ECN213 2007 Spring – 2008 Fall |
The World Economy |
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1. |
Describe the impact that the international economy has on a given country's economy. (I) |
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2. |
Relate the impact that the international trade has upon the standard of living of people in a domestic economy. (I) |
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3. |
Identify the Law of Comparative Advantage and provide examples of its application. (II) |
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4. |
Define the importance of factor endowments as stated by the Heckscher-Ohlin Theory. (II) |
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Contrast Free Trade and Protectionism with one another and give examples of each. (II) |
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6. |
Describe and provide examples of Multilateral Trade Agreements. (II) |
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7. |
Relate Trade Policy with the Theory of Economic Integration. (II) |
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8. |
Describe the specific processes involved in the foreign exchange market. (III) |
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9. |
Describe the adjustment mechanisms used by nations used under flexible and fixed exchanged rates systems. (III) |
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10. |
Describe the role of international trade and finance in developing countries. (IV) |
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11. |
Describe the role of multinational corporations and problems/opportunities it offers for countries. (V) |
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12. |
Describe the importance and function of international capital and labor flows. (VI) |
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Go to Description Go to top of Competencies
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MCCCD Official Course Outline: |
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ECN213 2007 Spring – 2008 Fall |
The World Economy |
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I. The International Economy and the National Interest A. Importance of International Economics B. International Trade and the Nation's Standard of Living C. International Politics and Economics D. The Multinational Corporation E. Goals of Foreign Economic Policy II. International Trade A. The Law of Comparative Advantage B. The Heckscher-Olin Model C. Free Trade versus Protectionism D. Multilateral Trade Agreements E. Trade Policy F. Theory of Economic Integration III. International Payments A. Foreign Exchange Markets B. The Balance of International Payments C. Fixed Rate, Variable Rate Systems D. Adjustment Mechanisms IV. International Development A. Importance of Trade B. Developing Nations of the World Economy C. Trade Policies of Developing Nations V. Multinational Corporations A. The Nature and Structure of the Mutlinational Corporation B. Public Policy toward the Multinational Corporation VI. International Resource Movements A. Debt versus Assistance: Policies of Developed Nations toward Developing Nations B. International Capital and Labor Flows |