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ECON
312: Economics of Globalization
Fall
Semester, 2007-2008
Joseph
P. Joyce
Room 413 PNE
Department of Economics
Wellesley College
Tel: 781-283-2160
E-mail: jjoyce@wellesley.edu
Goals: This course is an introduction to globalization for students who will make a difference in the world. The process of globalization has aroused great controversy.
This course examines the reasons for the integration across
borders of the markets in goods and the factors of production,
and the consequences of these trends. In the first part of
the course we discuss the history of globalization and the
emergence of international public goods. Next we analyze
the consequences of international trade, the migration of labor,
and global financial flows. We then examine the implications of globalization
for growth and poverty, the environment and governance.
Prerequisites: The prerequisites for the course are ECON 201.
Readings: The main text for the course is:
Lomborg, How to Spend $50 Billion to Make the World a Better Place
The other readings are available at the Knapp Reserve Desk or
through electronic reserves.
Requirements: The course grade will be determined by the results
of four short papers (15% each), a joint presentation (15%),
class participation (5%) and a final paper (20%).
Class Conference and Blogs: We have a FirstClass conference
that we will use to post announcements, answer questions, etc.
In addition, there are several blogs with relevant material,
such as Managing Globalization, the blog of Daniel Altman of
the International Herald Tribune; and Yale Global Online.
Office Hours: Wednesdays from 11- 12 noon and Thursdays
from 2 – 3 p.m.
Honor Code: All members of the course are expected to adhere
to the Honor Code of Wellesley College.
I. Introduction 9/4, 9/11, 9/14
1. Background
2. History
Frieden, 2006, Global Capitalism
Bordo, Eichengreen and Irwin, 1999, “Is Globalization Today
Really Different Than Globalization a Hundred Years Ago?” in
Martin Richardson (ed.), Globalisation and International Trade
Liberalisation, Ch. 3
II. IPGs and IGOs 9/18, 9/21
1. International Public Goods
2. Intergovernmental Organizations
Kaul, Grunberg and Stern, 1999, “Defining Global Public
Goods,” in Kaul, Grunberg and Stern (eds.), Global Public
Goods
Sandler, 2004, Global Collective Action, Ch. 2
CONFLICTS (Lomborg, Ch. 3) 9/25
FIRST PAPER 10/2
III. Trade 9/28, 10/2, 10/5
1. Comparative Advantage
2. Trade Restrictions
3. Trade Policies
Salvatore, 2005, Introduction to International Economics, Chs.
3.2-3.6, 4.2-4.5, 5.2-5.5, 6
Goldin and Reinert, 2006, Globalization for Development, Ch.
3
Barriers to Trade (Lomborg, Ch. 9) 10/12
FALL BREAK 10/9
IV. Immigration 10/16
Salvatore, 2005, Introduction to International Economics, Ch.
9.10 (Appendix 9.2)
Goldin and Reinert, 2006, Globalization for Development, Ch.
6
Migration (Lomborg, Ch. 7) 10/19
V. Finance 10/23, 10/26, 10/30, 11/2, 11/9
1. Exchange Rates
2. Currency Unions
3. Balance of Payments
4. Capital Flows and Crises
5. IMF
Salvatore, Introduction to International Economics, 2005, Chs.
11.2-11.3, 11.5, 15, 10
Isard, Globalization and the International Financial System,
2005, Chs. 2 - 5
Goldin and Reinert, 2006, Globalization for Development, Ch.
4
SECOND PAPER 10/30
TANNER CONFERENCE 11/6
Financial Instability (Lomborg, Global Crises, Global Solutions, Ch. 5) 11/13
VI. Growth and Poverty 11/16, 11/19
Salvatore, Introduction to International Economics, 2005, Ch.
8
Williamson, "Did the Washington Consensus Fail?" 11/6/02
Dollar, 2005, “Globalization, Poverty, and Inequality” in
Weinstein (ed.), Globalization: What’s New, Ch. 5
Goldin and Reinert, 2006, Globalization for Development, Ch.
2
THIRD PAPER 11/19
THANKSGIVING 11/23
Malnutrition and Hunger (Lomborg, Ch. 6) 11/27
VII. Environmentalism 11/30
Frankel, 2005, “The Environment and Economic Globalization,” in
Weinstein (ed.), Globalization: What’s New, Ch. 6
Climate Change (Lomborg, Ch. 1) 12/4
VIII. Governments 12/7
De la Dehesa, 2006, Winners and Losers in Globalization, Chs.
6, 7
Governance and Corruption (Lomborg, Ch. 5) 12/11
FOURTH PAPER 12/11
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