ARGOSYUNIVERSITY - CHICAGO

SYLLABUS

Course TitleComparative Economic Systems

Course NumberB7607

Course SessionFall I, 2008

InstructorElias A. Demetriades, PhD

Course Description

The course focuses on applications of economic theory, including the impact of international trade, the World Trade Organization (WTO), the General Agreement on Trade and Tariffs (GATT), regional economic integration such as the European Union (EU) and the North American Free Trade Agreement (NAFTA), and international trade. Particular emphasis is given to the Foreign Exchange markets and the impact of foreign investment on the national accounts and development.

Educational Approach

In a seminar environment, the professor will lead the student through achievement of the course objectives by explaining and demonstrating the various economic issues, then providing the student with an opportunity to apply the knowledge to in-class discussion and out-class work (papers). Active student participation is welcomed.

Textbook

King, Philip G. and Sharmila Kumari King (2005). International Economics and International Economics Policy: A Reader (4th Ed.), Boston, MA: Irwin McGraw-Hill

ISBN: 0-07-287333-7

Class Schedule

Week 1

Issues in Trade and Development

Week 2

WTO, Trade Labor, and the Environment

Week 3

Trade and Development; NAFTA

Globalization

Paper #1 Due: The Effects of Job Outsourcing on the Global Economy

Week 4

The Balance of Payments
Exchange Rates and Macroeconomic Policy

Week 5

The Euro

Paper #2 Due: A Comparison of the Effects of the Exchange Rate Regime on the Growth of Developed vs. Developing Economies

Week 6

Financial Crises

Restructuring the New World

Week 7

EU, India, China, Russia, and the US: Gentle Giants or Clashing Titans?
Final Exam

Course Requirements:

Class participation is fundamental to your learning. Communicate your ideas and questions so that you have a clear understanding of the theoretical concepts examined, as well as their limitations under real world conditions.

We will have a take-home final exam. The questions on it will be open-ended (essay).

We will have two (2) Papers with an approximate length of seven (7) pages. The topics are stated in the Class Schedule above.

Grading:

The following weights are assigned to the above course requirements:

Class Participation100 pointsA >= 90%

2 Papers @ 120 points240 pointsB >= 80%

Final Exam160 pointsC >= 70%

Total500 pointsD >= 60%

Faculty Biography:

Elias A. Demetriades

For most of my career I have worked in various managerial and consulting engagements in the US, Europe and Africa. I have taught undergraduate and graduate courses for fifteen (15) years.

I currently teach undergraduate math and economics courses, as well as economics, management and finance at the graduate level while consulting in finance (quantitative modeling, risk management, alternative investments).

I hold a BS in Business Administration (concentration in Marketing), an MBA from IMD in Switzerland and a PhD in Management Science (concentration in Finance).

I am a founding member of the Education Committee of Professional Risk Managers’ International Association (

Contact me at:

, or (312) 301-1025 (cell).