Beruflich Dokumente
Kultur Dokumente
Date Credits 3
Course Title International Trade and Course Number MAN 6030
Investments
Pre-requisite (s) None Co-requisite (s) None
Hours 45 Out of Class 90
Work Hours
Book required
(Universidad Autonoma del Caribe recognizes the use of the textbook in the classroom as part of the
educational methodology and strategy applied in diverse materials. The textbook is part of the curriculum
and is used to reach the student in an effective manner in the classroom. Every student is expected to acquire
and use the textbook.)
(La Universidad Autónoma del Caribe reconoce el uso del libro de texto en el aula
como parte de la metodología y estrategia educativa aplicada en diversos
materiales, el cual forma parte del plan de estudios y se utiliza para llegar al
estudiante de manera efectiva en el aula. se espera que el estudiante adquiera y
use el libro de texto.)
International Trade
Author: John McLaren
Publisher: Wiley; 1 edition (October 30, 2012)
ISBN-10: 0470408790 | ISBN-13: 978-0470408797
Attendance Policy
Students are expected to attend all scheduled college classes for the courses that they are registered
for and to achieve the goals set forth by each class instructor. Attendance is taken daily. Enrolled
students are permitted no more than 2 “free” absences in one semester. Students missing 3-5
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classes over the course of the semester will receive a one-letter grade deduction from their final
course grade; missing more than 6 classes will result in failure of the course regardless of grade
average. It is the student's responsibility to arrange to make up work missed because of an absence.
A student is considered tardy/late if he/she comes to class 15 minutes late. With three tardies the
student accumulates one full absence. If the student misses half of the class period, it is a full
absence. When a student has more than 6 tardies, the instructor will contact the Universidad
Autonoma del Caribe Coordinator of Student Affairs and Academic Department and request an
intervention session with the student. The goal of the intervention session is to develop and
implement an intervention program to help students learn new ways to save and manage time.
NOTE: Plagiarism is defined as the use, without proper acknowledgment, of the ideas, phrases,
sentences, or larger units of discourse from another writer or speaker. Plagiarism includes the
unauthorized copying of software and the violation of copyright laws. Students who commit
plagiarism will obtain a grade of “Failure” on their exam or assignment.
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This course will explain standard theoretical constructs and economic models of trade between
countries. Students will assess real-world examples and incidents in order to review principles of
trade, investment, and economics in a global context.
Este curso explicará los constructos teóricos estándar y los modelos económicos
del comercio entre países. Los estudiantes evaluarán ejemplos e incidentes del
mundo real para revisar los principios de comercio, inversión y economía en un
contexto global.
Learning Objectives
Discuss if a country’s citizens are not saving as much as they optimally should the economy
will tend to run a trade deficit higher than it optimally should.
Explain that exchange rate for convertible currencies, which are set by supply and
demand forces of foreign exchange markets.
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DATE WEEK 1
SPECIFIC Describe the course.
OBJECTIVES Discuss how standardized containers revolutionized ocean shipping.
Describe the cost of shipping products worldwide.
Illustrate and explain the British shipping rates for export of coal
during the 1741-1872 periods.
Explain the average tariff tax.
Define General Agreement on Tariffs and Trade.
Discuss offshoring and outsourcing.
Explain why trade may become more volatile.
Identify policy changes that have contributed to globalization.
Explain how the average level of openness in the world economy has
changed over the years.
Discuss piracy and the political ramifications of such actions.
Describa el curso.
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Silaba.
Discutir el curso de orientación de la biblioteca, Instructor para
verificar la terminación
• Explicar cómo la globalización ha impactado la vida de la
gente común.
• Discutir las barreras al comercio internacional.
• Explicar la Organización Mundial del Comercio.
• Definir el producto nacional bruto.
• Discuta cómo el calentamiento global puede aumentar el costo
de los combustibles fósiles.
• Identificar un cambio tecnológico que ha facilitado la
globalización.
• Enumerar y discutir los países que aumentaron y
disminuyeron en la apertura.
• Explicar las inversiones extranjeras directas.
• Discutir las razones del comercio.
• Definir y discutir la ventaja comparativa, los rendimientos
crecientes a escala y la competencia imperfecta.
Discusión de Syllabus.
Discusión en clase de los temas actuales en el comercio
internacional.
HOMEWORK Review the Syllabus.
& ASSIGNED Complete the Library Orientation Course. Instructor to verify
READINGS completion.
Read chapters 1.
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Revise el Syllabus.
Completar el curso de orientación de la biblioteca. Instructor
para verificar la finalización.
Lea los capítulos 1.
Read chapter 2.
Answer the Questions and Problems on page 11, 1 to 6.
Answer the Questions and Problems on page 28, 1 to 8.
Lea el capítulo 2.
Responda a las preguntas y problemas en la página 11, 1 a 6.
Responda a las preguntas y problemas en la página 28, 1 a 8.
DATE WEEK 2
SPECIFIC Identify differences that may drive comparative advantage.
OBJECTIVES Explain the comparative advantage formalized.
Discuss the autarky in the Ricardian Model.
Explain free trade in the Ricardian Model.
Describe the Ricardian model as a comparative advantage theory
that is based on differences in production technology.
Explain why every country has a comparative advantage in
something and a comparative disadvantage in something.
Discuss how absolute advantages determine the international
distribution of income.
Explain how small countries specialize completely in equilibrium.
Discuss the results of a large country that does not specialize
completely it does not gain from trade.
Describe how the logic of comparative advantage argues against a
policy of using import restrictions to advance the goal of food self-
sufficiency.
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completamente en equilibrio.
• Discutir los resultados de un gran país que no se especializa
completamente que no gana del comercio.
• Describir cómo la lógica de la ventaja comparativa se opone a
una política de uso de restricciones a las importaciones para
avanzar en el objetivo de la autosuficiencia alimentaria.
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LEARNING Participate in a forum: discuss the Melitz effect, see figure 3.4 on page 43.
ACTIVITIES Discussion of assigned questions and problems.
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Lea el capítulo 6.
Responda a las preguntas y problemas en la página 84-85, 1 a 5.
Responda a las preguntas y problemas en la página 105-107, 1 a
5.
DATE WEEK 4
SPECIFIC Define specific factors model.
OBJECTIVES Explain the real income earned by factors specific to an export sector
increases with trade liberalization.
Discuss factors of production that are not specific, but are freely
mobile across sectors and can be made better off or worse off by
trade liberalization.
Identify occupations that require sector specific skills.
Discuss the average tariffs of 1790-1836.
Explain the Heckscher –Ohlin model.
Describe how the in a Heckscher-Ohlin world, factor prices are
determined by output prices through each industry’s zero profit
condition.
Explain the Stolper-Samuelson theorem.
Discuss how the mobility or immobility of factors across industries
affects the nature of political conflict that can be expected over trade
policy.
Describe production with factor substitution.
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LEARNING Participate in a forum: discuss whom are the WTO, and what do they have
ACTIVITIES against Dolphins.
Discussion of assigned questions and problems.
Examen
• Explicar cómo cualquier política comercial impone una
externalidad de términos de intercambio en otros países.
• Discutir cómo una reducción mutua coordinada de las
barreras comerciales tiene el potencial de mejorar a cada país.
• Describir el GATT que data de 1948 y es el principal acuerdo
multilateral para reducir las barreras comerciales.
• Explicar cómo la política comercial y cualquier regulación
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Lea el capítulo 9.
Responda a las preguntas y problemas en las páginas 169-171,
1 a 7.
Escriba un informe de 300 palabras sobre la necesidad de
defender la protección de la industria infantil en una falla del
mercado.
DATE WEEK 7
SPECIFIC Explain neoliberal economist claim rich countries got that way by
OBJECTIVES removing barriers to trade.
Describe and discuss infant industry protection.
Explain how a market failure is needed to make a case for infant
industry protection.
Identify one of the most important sources of market failure – credit
market failures.
Illustrate and discuss the family tree of trade model
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Discuss how companies use employees from other countries to make
apparel for leasing American retailers.
• Explicar los antecedentes de la industria infantil.
• Identificar los condados que utilizaron la protección de la
industria infantil en el pasado.
• Explicar la evidencia de la efectividad de la apertura comercial
como estrategia de crecimiento es mixta.
• Discutir cómo la importancia de la política comercial se
encuentra en áreas distintas del crecimiento.
• Explicar cómo los empleados mejoran el proceso con el
tiempo.
• Discutir "capaz de enfrentar la competencia internacional".
• Explicar una de las razones por las que los mercados de
crédito pueden fallar es la información asimétrica.
• Describir y explicar las externalidades de la aglomeración.
• Explicar de qué manera los retornos de aprendizaje que
generan un incremento externo regresan en una industria que
conduce a la falla del mercado.
• Discuta cómo las compañías usan empleados de otros países
para confeccionar prendas para alquilar minoristas
estadounidenses.
LEARNING Participate in a forum: discussed how Japanese firms made more money by
ACTIVITIES being partially shut out of the American market.
Discussion of assigned questions and problems.
Participa en un foro: discutió cómo las firmas japonesas
ganaban más dinero al quedar parcialmente fuera del mercado
estadounidense.
Discusión de las preguntas y problemas asignados.
HOMEWORK Continue research and work on final project.
& ASSIGNED Read chapter 10.
READINGS Answer the Questions and Problems on pages 185-186, 1 to 9.
DATE WEEK 8
SPECIFIC Explain how trade policy can have very different effects in the
OBJECTIVES presence of oligopoly compared to perfect competition.
Describe the rent shifting motive, which gives rise to strategic
policy.
Discuss perfect competition, under which export subsidies are never
welfare promoting for an exporting country.
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TOPIC (S) Discuss the best method of interpreting the US-Japanese automotive
voluntary export restraint (VER).
Describe how oligopoly allows for the possibility that trade policy
can be used to shift oligopoly profits from foreign firms to domestic
firms.
Explain how with Cournot oligopoly both tariffs and export
subsidies can both fill the same role.
Discuss the causes of the decline if the US auto industry in the
1970’s.
Illustrate the residual demand under VER.
Describe a tariff with a Bertrand Oligopoly.
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Explain how automakers act the way a cartel act and they agree to
raise prices.
Describe and discuss randomization of prices.
Describe and explain Stackelberg leader.
Discuss export subsidy.
• Discutir el mejor método de interpretación de la restricción
voluntaria de exportación (VER) automotriz estadounidense-
japonesa.
• Describir cómo el oligopolio permite la posibilidad de que la
política comercial pueda ser utilizada para cambiar las
ganancias de oligopolio de las firmas extranjeras a las firmas
nacionales.
• Explicar cómo con el oligopolio de Cournot tanto los aranceles
como los subsidios a la exportación pueden cumplir el mismo
papel.
• Discutir las causas de la declinación de la industria automotriz
de Estados Unidos en los años setenta.
• Ilustre la demanda residual bajo VER.
• Describir un arancel con un Oligopolio de Bertrand.
• Explicar cómo actúan los fabricantes de automóviles de la
manera en que actúan los cárteles y están de acuerdo en subir
los precios.
• Describir y discutir la asignación al azar de los precios.
• Describir y explicar el líder de Stackelberg.
• Discutir las subvenciones a la exportación.
LEARNING Participate in a forum: discuss should the iPod be made in the United States.
ACTIVITIES Discussion of assigned questions and problems.
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Explain that in the event that net fiscal transfers to immigrants are
positive the optimal level of immigration from the point of view of
the native born population will generally be positive but finite.
Illustrate studies based on the idea of a national labor market for
each category of worker have found evidence of negative effects of
immigration of a given category on wages of that category.
Discuss the distributional issues that may be dealt with through
redistributive policy.
Explain the creation of a greater variety of local goods and services
due to demand externalities.
Illustrate how to compute the relative supply of a product.
Discuss general equilibrium effects with labor complimentarity.
• Ilustrar la inmigración asumiendo sustitutos laborales
extranjeros para el trabajo doméstico.
• Describir y discutir el enfoque nacional del mercado de
trabajo.
• Ilustre la elasticidad del enfoque de la sustitución.
• Discuta cómo la inmigración reduce el salario interno.
• Explique que en caso de que las transferencias fiscales netas
a los inmigrantes sean positivas, el nivel óptimo de inmigración
desde el punto de vista de la población nacida en los Estados
Unidos será generalmente positivo pero finito.
• Ilustrar estudios basados en la idea de un mercado de trabajo
nacional para cada categoría de trabajadores ha encontrado
pruebas de los efectos negativos de la inmigración de una
categoría dada sobre los salarios de esa categoría.
• Discutir los problemas de distribución que pueden tratarse
mediante la política redistributiva.
• Explicar la creación de una mayor variedad de bienes y
servicios locales debido a las externalidades de la demanda.
• Ilustrar cómo calcular la oferta relativa de un producto.
• Discutir los efectos de equilibrio general con la
complementariedad laboral.
LEARNING Participate in a forum: discuss trade in the environment: is globalization
ACTIVITIES green.
Discussion of assigned questions and problems.
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TOPIC (S) Explain why lower income countries have a comparative advantage
in dirtier industries.
Describe and discuss the Pollution Haven Hypothesis.
Explain high income countries have a comparative advantage in
capital intensive industries.
Explain the sneeze hypothesis.
Discuss how the pollution have hypothesis emerges of the abatement
costs in the capital abundant country are high enough to reverse the
natural pattern of comparative advantage.
Explain how trade has had a positive effect in the environment.
Describe and discuss industry composition effect.
Discuss how researchers have looked at the relationship between
globalization and the environment from many angles.
Explain local pollution effects.
Describe total world emissions in which case this is a model of cross
border pollution.
• Explicar por qué los países de bajos ingresos tienen una
ventaja comparativa en las industrias más sucias.
• Describir y discutir la Hipótesis del Ataque de la
Contaminación.
• Explicar que los países de altos ingresos tienen una ventaja
comparativa en las industrias de capital intensivo.
• Explicar la hipótesis del estornudo.
• Discutir cómo la contaminación tiene hipótesis surge de los
costos de reducción en el país capital abundante son lo
suficientemente altos como para revertir el patrón natural de
ventaja comparativa.
• Explicar cómo el comercio ha tenido un efecto positivo en el
medio ambiente.
• Describir y discutir el efecto de la composición de la industria.
• Discutir cómo los investigadores han examinado la relación
entre la globalización y el medio ambiente desde muchos
ángulos.
• Explicar los efectos locales de la contaminación.
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MIDTERM EXAM II
• Discutir cómo la globalización puede, como cuestión de teoría,
aumentar o disminuir el uso del trabajo infantil.
• Explicar cómo en la práctica el efecto de los ingresos parece
dominar y el trabajo infantil cae cuando la pobreza disminuye.
• Discutir cómo en Vietnam el comercio abierto parece haber
tenido el efecto neto de reducciones significativas en el trabajo
infantil.
• Explique que la causa raíz no es la globalización sino la
pobreza.
• Discutir la evidencia empírica que sugiere que las
multinacionales mejoran los salarios medios debido
principalmente a los mayores salarios que pagan.
• Describir cómo la inversión extranjera directa ha tenido fuertes
efectos en la democratización,
• Explicar una teoría de que la apertura comercial ayuda a
facilitar el progreso hacia la democracia.
• Describir la evidencia empírica de un efecto pro-democracia de
la apertura comercial durante un largo período de tiempo.
• Discutir la vigilancia internacional sobre la importación de
productos de conflicto, junto con la promoción de la
manufactura intensiva en mano de obra.
• Explicar el tipo adecuado de globalización que ofrece una
esperanza parcial de aliviar el mercado laboral mundial.
TOPIC (S) Explain how each hour of leisure will also raise the opportunity cost
of an hour.
Discuss evidence suggests that in low income countries,
globalization tends to raise the use of child labor in import
competing sectors and to lower in export sectors.
Define and explain sweatshops.
Discuss that there is a good theoretical reason to expect that
multinationals hiring in low-income labor markets will lower
poverty by increasing the demand for labor.
Explain why low wage workers still capture only a small share of the
surplus generated by the exports they produce.
Discuss why there are numerous examples of multinationals helping
most government’s crackdown on dissidents.
Explain how trade openness in low-income countries can reduce
income inequality.
Discuss the most troubling interaction between globalization and
human rights springs from civil wars over exportable primary
commodities.
Explain how globalization can have significant indirect effects on
women’s rights by expanding women’s roles in the paid labor force.
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Describe how PTAs lower trade barriers, but they also introduce a
discriminatory element to trade policy.
Explain why the losses from trade diversion must be weighed
against the gains from trade creation in evaluating the welfare effects
of a PTA.
Discuss trade diversion acts as an incentive to reduce most favored
nation tariffs.
Explain the expectation that PTAs can become a self-fulfilling
prophecy inducing private investments that reinforce regional
patterns of trade.
Describe the case of NAFTA where mechanisms were set up in a
manner that appears to have endangered the ability of signatory
governments to pass environmental regulations.
Discuss the effects of NAFTA in Mexico.
Describe and discuss stumbling block theory 1 and 2.
Explain how NAFTA reduced poverty in Mexico.
• Explicar las excepciones más importantes del principio de la
nación más favorecida del GATT.
• Discutir las normas de origen, que son importantes en los
acuerdos de libre comercio, pero no en las uniones aduaneras.
• Describir cómo las PTAs reducen las barreras al comercio,
pero también introducen un elemento discriminatorio en la
política comercial.
• Explicar por qué las pérdidas derivadas de la desviación del
comercio deben sopesarse frente a las ganancias derivadas de
la creación de comercio al evaluar los efectos sobre el bienestar
de un PTA.
• Discutir los actos de desviación comercial como un incentivo
para reducir las tarifas de nación más favorecida.
• Explicar la expectativa de que las APT pueden convertirse en
una profecía autocumplida que induzca a las inversiones
privadas que refuercen los patrones regionales de comercio.
• Describir el caso del TLCAN donde se establecieron
mecanismos que parecen haber puesto en peligro la capacidad
de los gobiernos signatarios para aprobar las regulaciones
ambientales.
• Discutir los efectos del TLCAN en México.
• Describir y discutir la teoría de los obstáculos 1 y 2.
• Explicar cómo el TLCAN redujo la pobreza en México.
LEARNING Participate in a forum: discuss is the trade deficit a time bomb.
ACTIVITIES Discussion of assigned questions and problems.
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LEARNING Participate in a forum: discuss trade and exchange rates: is the Renminbi
ACTIVITIES the culprit.
Discussion of assigned questions and problems.
aumenta el PIB.
• Discutir la infravaloración del reminbi por parte de China,
• Ilustrar cómo la productividad cambia el tipo de cambio.
LEARNING Group discussion: explain the economy today, and should we be worried of
ACTIVITIES our deficit.
Discussion of assigned questions and problems.
Student presentations.
Instructional Methods
In developing methodological strategies, it is best to discuss them between teachers and students
in an environment of freedom and mutual agreement in order to ensure that the students make them
their own and take responsibility for their execution and for attaining the goals of this course.
The Handbook of International Trade and Finance: The Complete Guide for International Sales,
Finance, Shipping and Administration
Author: Anders Grath
Publisher: Kogan Page; Third Edition (December 28, 2013)
ISBN-10: 0749469544 | ISBN-13: 978-0749469542
International Trade
Authors: Robert C. Feenstra, and Alan M. Taylor
Publisher: Worth Publishers; Third Edition (March 11, 2014)
ISBN-13: 978-1429278447 | ISBN-10: 1429278447
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97 – 100% A
90 – 96% A-
87 – 89% B+
83 – 86% B
80 – 82% B-
73 – 79% C+
70 – 72% C
67 – 69% C-
63 – 66% D+
60 – 62% D
57 – 59 % D-
< 57% F
Generally, the grades “A” and “B” are considered passing grades. Grades "W" and "I" indicate that no grades
were earned for the course. A "W" grade indicates that the student withdrew from the course. An "I" grade
indicates that the student was passing the course, but failed to complete all the required course work. The
instructor, in his/her discretion may grant an "I" grade instead of an "F", pending completion of the course
work by the student within a specified time arranged by the instructor and told to the student. It is the student's
responsibility to follow-up with the instructor to complete the course work. If the course work is not completed
by the arranged time, the “I” grade becomes an “F".
Homework: 15%
Exams I, II, III: 30%
Final Presentation: 30%
Final Research Project: 25%
Total: 100 %
Tareas: 15%
Exámenes I, II, III: 30%
Presentación final: 30%
Proyecto Final de Investigación: 25%
Total: 100%
STUDENT AGREEMENT
Print Student’s Name: _______________________________________
Date: ______________
Course Number and Prefix: _______________
Instructor: _____________________
Semester: _____________________________
Contact Information:
Telephone Number: _______________________________
Cell Number: _____________
Student’s E-mail: __________________________________
I ___________________________ have received a copy of the syllabus
for the above course. I understand and agree to abide by the terms of this
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