Economic Sciences 327/International Business 470
International Trade and Finance

Course Instructor

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Course Overview

The course will cover international trade and international finance topics. We will work at a fairly high conceptual level, primarily using formal economic models (e.g., Ricardian, specific-factors, and Heckscher-Ohlin) to gain insights into the effects of international economic integration and policies. Newer explanations of trade will also be presented, such as increasing returns to scale, outsourcing, and trade agreements. Exchange rates and international monetary policy will be addressed in some detail, as well as national income accounting. Broadly speaking, we will examine the international flows of goods, labor, capital, and financial assets in the increasingly globalized world economy. Upon successful completion of the course, students should have a strong working knowledge of the economic foundations of international trade and finance.

Text and Resources

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Course prerequisites

EconS 101 and EconS 102 (or EconS 198), or consent of the instructor.

In addition to having command over the concepts taught in the introduction of microeconomics and macroeconomics, working with algebra is a necessity in this course. If you need refreshing on algebraic concepts (e.g. how to write the equation of a line in slope-intercept form or how to solve a system of two equations), you will need to do this on your own time.

MyLab Economics

You must register with Pearson's MyLab Economics (formerly known as "MyEconLab") to access the materials (including the e-book) for this course, and you need to pay for the subscription of MyLab Economics. If you buy the textbook in-print, then make sure you buy the one that comes with an access code, because used books usually do not come with the complimentary access. Please link your BlackBoard account with MyLab Economics account so that your scores automatically get updated. Use the following direction: 

1. On your left, click "MyLab Economics".

2. Click on MyLab Economics Course Home

3. Search for course ID: choi49404

If you do not have MyLab Economics and BlackBoard linked, you'll see "Get Started for Students". Click on that and then follow the instructions for registration.

If you already have linked MyLab Economics and BlackBoard accounts, then you see "MyLab Economics Course Home". Click on that link and start your study!

More help is available at this link.

Please note: Your instructor or the Virtual Mentor cannot solve any technical issues regarding the use of BlackBoard and MyLab Economics. Call the respective help lines ASAP if you face any technical difficulties in your account.

Course Work

Term Paper

Write a term paper based on the topics covered in this class, and you need to accomplish the following tasks.

1. Choose a topic related to contemporary issues in International Trade and Finance, and write an introduction of one to two pages of (i) what motivates you to choose this topic (that is, what interests you?), (ii) your plan of analyzing the topic (such as the tools and resources you are going to use), and (iii) your expected results. Please submit the document in *_Intro.docx format on Blackboard, where * stands for your FirstName_LastName. (For example, the instructor's submission will be PakSing_Choi_Intro.docx, and similarly for all subsequent documents.)

2. Submit the first draft of around ten pages (*_Draft.docx) on Blackboard, with the following sections: (i) introduction, (ii) information/data source, (iii) analysis, (iv) results, and (v) conclusion. I tend to be flexible on the page limit since you may include some tables, figures, and graphs to facilitate your illustration, but as a rule of thumb, it should be no less (more) than 8(12) pages.  Formatting requirements: letter size, 1½ to double spacing, Times New Roman, font size: 12, and 1 inch margin on all sides, with references properly cited in APA format (6th edition).

3. Review two students' papers that the instructor sends to you, and provide constructive feedback. You can leave some specific comments in the Word document, and also write a paragraph or two for some general comments at the end. Send them back to the instructor on Blackboard.

4. Based on the comments received, work on and submit the final paper (same sectional arrangements and formatting requirements as the first draft) entitled *_Final.docx on Blackboard. You need to exercise sound judgment to evaluate the comments received based on your understanding of the materials covered in class.

The purpose of this term paper is to help you reflect upon and synthesize the concepts in International Trade and Finance, search for new information and apply the knowledge learned to solve real-world problems, and articulate your arguments in a logical and consistent manner that deepen your understanding of the topic of your choice.

The Critical Thinking Rubric will be used to evaluate the term paper for a total of 200 points; within which, the introduction: 20, first draft: 40, paper review: 40 (20 each), and final draft: 100. Altogether, all components of the term paper account for 15% of your course grade.


There will be three discussions on topics relevant to current issues in International Trade and Finance. During the first week of a discussion, students are required to make an original discussion post (referred to as the Initial Post), a brief essay no shorter than 250 words, that thoroughly and thoughtfully addresses the questions raised in the discussion topic. This initial post should be written clearly, and should demonstrate a comprehensive understanding of the materials covered (i.e., it should be a critical and well-polished argument with properly-cited evidences and theories to back up). Initial posts are due on Sunday at 11:00PM Pacific Time during the first week of a discussion. In the second week of a discussion, each student must respond to at least two of their classmates' initial posts (referred to as responses) by the Sunday at 11:00PM Pacific Time following the deadline for the initial post (see the Course Schedule for specific due dates).

Responses should demonstrate careful consideration of the initial post and a reasoned, constructive argument or reaction ("That's a great post!", or simply reiterating what the initial post has mentioned, is not sufficient). The Rubric for Discussions will be used to evaluate discussion posts and responses, which are graded at 80% and 20% (for all the responses together) respectively. Overall quality, writing, and clarity will also be considered.

Each discussion contributes 5 percent to your course grade. Altogether, discussions account for 15 percent of your course grade, and no discussion scores will be dropped. Please note that, when grading, the instructor will ignore responses made in the first week of a discussion, so as to ensure that everyone has a chance to make an Initial Post before the class begins responding. Discussion posts must be completed on time according to the schedule. Posting after the deadlines will not be graded.

If you have any medical/family emergencies, court appearances, military service obligations, or other extenuating circumstances that prevent you from participating in the discussions and/or responses on time, please e-mail the instructor as soon as possible with scanned/electronic copies of the relevant documentations. The instructor will make a decision and inform the student of the decision within one week's time. The instructor reserves the right not to grant an extension or make alternative arrangements if the student fails to make the request in a timely fashion (such as weeks after the discussion/responses due is considered unacceptable) or provide documentary proof (such as the doctor's note, police report, court summons, advance notice of military service, etc.).


Every week there will be MyLab Economics assignment, which comprises both homework and quiz, and you need to do both. There are altogether 15 sets of assignments, one for each week. Your average grade will be computed as a percentage based on the total points answered correctly from each assignment relative to the total possible points. Within MyLab Economics, you will get two attempts to answer each question. Each assignment (including homework and quiz) contributes 2 percent to your course grade. Altogether, MyLab Economics assignments account for 30 percent of your course grade. No late submissions are allowed without prior approval, and no assignment scores will be dropped.

Assignments must be completed and submitted in MyLab Economics by the due date each Sunday at 11:00PM Pacific Time (unless otherwise specified). Please note: For any tasks on MyLab Economics, the deadline is the time you need to submit the assignment, not the time you begin working on it. For example, if you start your assignment on 10:59PM, you have (less than) 1 minute to work on it. The instructor recognizes that occasionally situations arise beyond students' control, so students will be allowed to request an extension for a maximum of two assignments for at most one week (for homework and/or quiz of the same or different chapters), but no more than that. This design is to protect you from extenuating circumstances that get in the way of completing the assignment on-time, rather than an excuse to procrastinate. To request an extension, send an e-mail to the instructor at least 24 hours in advance of the deadline. Any request made within 24 hours, or after the deadline, will not be granted. The instructor reserves the right not to grant an extension.


There are three "midterm" exams and a comprehensive final exam. Exam availability, materials covered, and due dates are posted in the Course Schedule. Exams 1 and 3 will not be proctored, while Exam 2 and the Final Exam will be proctored by Examity or on-site proctors as approved by the WSU Global Campus, which you need to arrange for early on in the semester (please refer to for details). You are allowed to use handheld (4-function or scientific non-graphing) or on-screen calculator (no other electronic devices such as cell phones, smart watches, or tablets are allowed) and blank sheets of paper or dry erase board with cloth/eraser for your calculation and scribbles. For the "midterm" exams, you can carry with you a 8.5 inch by 11 inch printed/handwritten handout on both sides, and for the final exam, you can bring at most three 8.5 inch by 11 inch printed/handwritten handouts on both sides. This is to hone your skills in summarizing and connecting different concepts and ideas in a clear and concise manner, and also help you focus on thinking through the questions instead of spending too much time flipping through the pages.

To familiarize yourself with the setting of the proctored final exam, I also make one of the midterm exams, i.e., exam 2, proctored. You are strongly advised to book an appointment with Examity at least two weeks prior to the exam date, and please avoid taking the exam at the last minute, because it usually takes around 20 minutes (depending on your internet connection and computer/browser setting) to setup the exam. Please note that it is your responsibility to make all the necessary arrangements to schedule in advance and take the proctored exams within the time periods prescribed in the syllabus, and failure to do so does not constitute a valid excuse to take the exam at any other time. Please check your browser setting at before taking the exam. Each exam contributes 10 percent to your course grade. Altogether, exams account for 40 percent of your course grade. No exam scores will be dropped, and no early/make-up exams will be offered.

The instructor will also make available practice exams at least a week ahead which prepare you for the exams. Taking the practice exams are voluntary, and scores of the practice exams are not counted towards the course grade. Practice exams are found on MyLab Economics, not proctored, do not need be scheduled in advance.

Office Hours

Thursday, 6-7pm, Pacific Time (select "Virtual office hours" in the map menu on the left); or by appointment (e-mail the instructor at least 24 hours in advance if you need extra consultation sessions, and this is subject to the instructor's availability).

If the instructor is unavailable at the captioned time period, an announcement will be made as soon as possible regarding make-up office hours.

Extra Credits

Extra credit assignments may be offered at the discretion of the instructor.

Instructor Interactions

The instructor will be available for Questions & Answers via the Discussion Board. To access the Discussion Board, if you haven't done so already, expand the content folder in the map menu on the left by clicking the plus sign (+), and then select Discussion Board.

For matters that cannot be addressed via the Discussion Board, students should contact the instructor via e-mail. Make sure to specify the course prefix, number & section: ECONS 327/IBUS 470 Global Campus in the Subject window of your e-mail. End your e-mail with your full name & student ID number. 

The instructor will be in the course space daily throughout the semester and answer e-mail in a timely fashion (no longer than two business days after reading a post or receiving an e-mail, and possibly faster). If there are any exceptions or periods during which the instructor must be away for more than 48 hours, the instructor will make an announcement.


As an indication of the student's progress to date, students should be able to calculate their grades using the following table by adding up the scores they have received in each category weighted by the percentages below. You can check the score of each task at "My Grades" in the map menu on the left, and calculate the current grade yourself instead of asking the instructor from time to time. Note that mid-semester grades are advisory and do not appear on the student's permanent record, the WSU transcript.

Your course average will be calculated using the following weights:

Category Percent
Term Paper 15
Discussions (5% each) 15
Assignments (2% each) 30
Exams (10% each) 40
Total 100

After calculating your course average, letter grades for the course are then assigned according the following schedule:

Letter Grade Course Average
A 93.0 - 100
 A- 90.0 - 92.9
  B+ 87.0 - 89.9
B 83.0 - 86.9
 B- 80.0 - 82.9
  C+ 77.0 - 79.9
C 73.0 - 76.9
 C- 70.0 - 72.9
  D+ 65.0 - 69.9
D 60.0 - 64.9
F <60.0

Note: You have to attain the lower bound of the grade range in order to obtain that grade. For example, if your course average is 79.999, you will get a C+, and only when you attain 80.000 will you get a B-.

Couse Evaluation

Your constructive assessment of this course plays an important role in shaping education at Washington State University. Please take time to fill out the online course evaluation. Do not include your name or any other individually-identifiable information. Your written comments are included exactly as you submitted them.

WSU Disability Statement

Students with disabilities: Reasonable accommodations are available for students with a documented disability. If you have a disability and need accommodations to fully participate in this class, please either visit or call the Access Center to schedule an appointment with an Access Advisor. All accommodations MUST be approved through the Access Center. For more information contact a Disability Specialist at 509-335-3417,, or

WSU Academic Honesty Statement

As an institution or higher education, Washington State University is committed to principles of truth and academic honesty. All members of the University community share the responsibility for maintaining and supporting these principles. When a student enrolls in Washington State University, the student assumes an obligation to pursue academic endeavors in a manner consistent with the standards of academic integrity adopted by the University. To maintain the academic integrity of the community, the University cannot tolerate acts of academic dishonesty including any forms of cheating, plagiarism, or fabrication. Washington State University reserves the right and the power to discipline or to exclude students who engage in academic dishonesty. Students found responsible for academic integrity violations may receive an F on the particular assignment or exam, as well as an F for the course. Serious and/or repeated offenses may result in referral to the conduct board and expulsion from WSU.

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