ECONS200-19A (HAM)

Understanding the Global Economy

15 Points

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Division of Management
School of Accounting, Finance and Economics


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Paper Description

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Understanding the Global Economy introduces various essential aspects of the global economy on which the individual economy interacts. It offers a principles-level introduction to the core theories, together with policy analysis and the institutional and historical context of global economic relations. The objective of the paper is to make economic reasoning about the global economy accessible to a diverse group of students. The central theme of the paper is to provide a solid platform to understand how global economic institutions, commercial trade and finance, and regional issues help shape the current global economic order under which the world economy functions.

The paper will help students develop an understanding of the global issues that are critical for rational and sustainable decision making in today's business world.

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Paper Structure

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The paper is taught through lectures (2 hours per week), and tutorials (1 hour per week). Lectures are recorded and available via Panopto for you to refer to later. However, attendance at lectures is strongly recommended.
The paper is supported online through Moodle, and the class has its own Facebook group (Econs200 - University of Waikato), which you are encouraged to join and make use of.
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Learning Outcomes

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Students who successfully complete the course should be able to:


    Understand the world economy and global economic institutions since World War II

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    Understand commercial policy, the political economy of protectionism and use the theories of trade and balance of payments, exchange rates and exchange rates system to recommend policies towards solving global economic problems;

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    Understand the aggregate demand and aggregate supply, fiscal and monetary policies and the theories of current account imbalances and use descriptive or graphical models to apply these theories to issues involving global policy coordination at the macro level;
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    Understand how global economic imbalances and volatile capital flows can trigger financial crisis causing global recession and neo-protectionism, and learn how to apply these knowledge to create an innovative global financial architecture;
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    Understand regional issues in the global economy including the influences of European Union, United States, China, South- and East-Asia in the world economy. These knowledge are expected to help students develop skills for general policy making in an integrated global business environment;
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    The paper emphasises learning via case study as one of its preferred approaches to learning. Students' understanding of the main theoretical and empirical concepts underlying the global economy will mainly come from their abilities to critically apply their acquired knowledge within a context of a particular case study, either related to a country or to a topic.

    This skill will enable students to think critically about globalisation. Using a holistic insight with an aim to provide sustainable solutions to business and economic problems affected by globalisation, they will convert themselves into informed global citizens.

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For business & economics media assignment, and the case study project, you will be given out required materials at least two to three weeks in advance.
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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 50:50. There is no final exam. The final exam makes up 50% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 50:50 or 0:0, whichever is more favourable for the student. The final exam makes up either 50% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. MyLab Online Tests
2. Tutorial Attendance
3. Business and Economics Media Assignment
12 Apr 2019
11:00 AM
  • Online: Submit through Moodle
4. Global Economy Case Study
27 May 2019
11:00 AM
  • Online: Submit through Moodle
5. Exam
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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Gerber, James (2018). International Economics, 7th Edition (Global Edition). Pearson Education Limited.

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Recommended Readings

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Stiglitz, J., Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump, Penguin, 2017

Marthinsen, J., Managing in a Global Economy, 2nd Edition, Cengage Learning, 2015

McTaggart, D., Findlay, C., and Parkin, M., Macroeconomics 7th edition, Pearson, 2013

Hickson, S., The NZ Macroeconomy, Pearson-New Zealand, 2013

Littleboy, B., Taylor, J., and Weerapana, A., Macroeconomics: Principles & Practice, Cengage Learning, 2013

Serra, N., and Stiglitz, J., The Washington Consensus Reconsidered: Towards a New Global Governance, Oxford University Press, 2008

Stiglitz, J., Globalization and Its Discontents, W.W.Norton, 2002

O’Rourke, K. H., and J. G. Williamson; “When Did Globalisation Begin?, European Review of Economic History, Vol. 6, No. 1, pp. 23-50, 2002

Woods, N., (Ed) The Political Economy of Globalization, Palgrave, 2000

Gupta, S., (Ed.)The Political Economy of Globalization, Springer, 1997

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Other Resources

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"Moodle" is a one-stop website for access to materials and grades for papers you are enrolled in, WMS databases and more. It can be accessed from the university or home network Enter your username and password, and a page of useful, personalized links will appear. There are a lot of resources available for students including a dedicated Facebook paper that hosts different media releases.

If you need extra support with understanding the material covered in this course, then visit the main website suggested in the textbook.

Other textbooks:

Many other introductory macroeconomics economics texts are also worthwhile to use as extra support. They can mostly be found at the HB172.5 classification in the library.

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Online Support

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Online resources can be accessed via Moodle or through links on the paper outline. MyEconLab also has excellent online learning resources.
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You might expect to spend approximately 150 hours in total during the semester working for and on this course.
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Linkages to Other Papers

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Note any linkages to other papers where the linkage is of importance.
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Restricted papers: ECON200

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