university of papua new guinea international economics lecture 1: introduction
TRANSCRIPT
The University of Papua New GuineaSlide 2
Lecture 1: Introduction Michael Cornish
Overview
• Aim of the course
• Structure of the course
• Some basic concepts…
• Guest lecturers
• Assessment
• Textbook
The University of Papua New GuineaSlide 3
Lecture 1: Introduction Michael Cornish
Aim of the course
• Critical thinking!
• To understand:
– Current major issues and debates in the global
political economy
– The major models used to understand
international trade, and how to apply them
The University of Papua New GuineaSlide 4
Lecture 1: Introduction Michael Cornish
Aim of the course
• To understand (cont.):
– What trade policy tools government has, their
effect, and how best to apply them
– A basic introduction to international monetary
policy
– The effects of foreign direct investment (FDI) and
international aid
…and all with at least a little enthusiasm!
The University of Papua New GuineaSlide 5
Lecture 1: Introduction Michael Cornish
Structure of the course
• Wks 2 to 4: Introduction / political economy
• Wks 5 to 8: Trade models and theorems
• Wk 9 and 10: Trade policy
• Wk 10 and 11: International monetary theory
• Wk 12: FDI and international aid
• Wk 13: Revision!
Trade
Intro
Monetary
The University of Papua New GuineaSlide 6
Lecture 1: Introduction Michael Cornish
Some basic concepts...
• What is international trade?
• What do our trade models try to do?
• What is the purpose of trade policy?
• What is international monetary theory?
» Why is all this important???
The University of Papua New GuineaSlide 7
Lecture 1: Introduction Michael Cornish
Guest lecturers
• Mr. Paul Flanagan (Aust. National University)
– Undertakes analysis on PNG’s economic prospects,
focusing on the 2015 PNG Budget
Strongly suggest you read:
• http://www.businessadvantagepng.com/papua-new-guinea-20
15-budget-analysis-dealing-with-debt-and-deficits/
• http://www.abc.net.au/news/2014-12-02/papua-new-guinea-ec
onomy-set-to-grow-15-per-cent-in-2015/5933664
The University of Papua New GuineaSlide 8
Lecture 1: Introduction Michael Cornish
Guest lecturers
• Also read:
– http://devpolicy.org/papua-new-guineas-vanishing-ln
g-export-boom-20141220/
• Detailed brief:
– http://devpolicy.org/policy_briefs/PB10VanishingPNG
LNGexportboom.pdf
The University of Papua New GuineaSlide 9
Lecture 1: Introduction Michael Cornish
Guest lecturers
• Homework:
– Write down one question to ask Mr. Paul Flanagan
for the question and answer session after his lecture
– Bring your written question to the first tutorial
(Wk4) – it will count for tutorial participation for
Week 3!
• Hopefully I can get more guest lecturers for us…
• Don’t worry, I will put all these links up online!
The University of Papua New GuineaSlide 10
Lecture 1: Introduction Michael Cornish
Online resources
• All material in the course will be made available at:
– http://michaelcornish.org/international-economics/
• This means:
– The course outline
– Lecture powerpoints
– Links to articles and .pdfs
– Anything else relevant or useful !
The University of Papua New GuineaSlide 11
Lecture 1: Introduction Michael Cornish
Textbook
9th Edition
The University of Papua New GuineaSlide 12
Lecture 1: Introduction Michael Cornish
Assessment
• Tutorial Participation: 10%
– Tutorials every week (except not today, and not
on Easter Friday)
– Tutorial questions handed out on Mondays
• Individual Assignment: 15%
– Details in Course Outline
– Due Monday 13th April (Wk 5) by 1pm
The University of Papua New GuineaSlide 13
Lecture 1: Introduction Michael Cornish
Assessment
• Group Assignment: 25%
– Details to be provided after individual
assignment is submitted
• Final Exam: 50%
– Details about time, date and location to be
provided as soon as they are confirmed
The University of Papua New GuineaSlide 14
Lecture 1: Introduction Michael Cornish
Some final words…