Economics 3564:  International Monetary Economics

Fall, 2024

Although we use the 12^th edition, older editions are mostly OK. But if you use old edition, you must be careful since different editions sometimes have same content in different parts in the textbook.

Student Support Services

The following academic support services are available to support you:

Office of Student Services

University Library (You can find old edition of the textbook.)

Career Development Office

Academic Advising Office

Counseling Services (in person, online and via phone)

Disability Resources and Services

TEMPLE AND COVID-19

Temple University’s motto is Perseverance Conquers, and we will meet the challenges of the COVID pandemic with flexibility and resilience. The university has made plans for multiple eventualities. Working together as a community to deliver a meaningful learning experience is a responsibility we all share: we’re in this together so we can be together. 

I. Course Objectives:  

This is a course of extending Macroeconomics to open economy, i.e., international economy. We study the determinants and the evolution of macroeconomic aggregates for economies that exchange goods, service, and financial assets with the rest of the world. The course focuses on the exchange rate determination, devaluation and real adjustment, the role of monetary and fiscal policies in open economies, central bank intervention in foreign exchange markets and exchange rate regimes, capital flows and balance of payments crises, and the costs and benefits of macroeconomic policy coordination among countries.

Consultations:

You are encouraged to consult with me regarding any problems you may have in the course. The information on the office hours is provided above. If the official office hour time does not work for you, you can ask a different time or make an appointment for online office hour meeting. Also, please understand that if your grade is not good, I might ask you to come to the office hour.

II. Course Requirement:

Students are expected to:

• Attend all class sessions,

• Complete all required assignments,

• Be prepared to answer questions and take an active and constructive role in discussions

Technology Requirements:

Canvas

We will be using the Temple University’s Canvas learning management system for this course. You can log in to Canvas at https://canvas.temple.edu. You can also access Canvas from the TUPortal.

To log into Canvas, enter your Temple University AccessNet Username and Password.  If you have never used Canvas before, watch this Canvas Overview for Students before class starts.

Computer equipment, internet, operating system, and peripherals

You are required to have access to a computer and internet to participate in this course. If you do not have access to a computer off campus, you can borrow a laptop daily from the ITS Helpdesk (5th floor, room 501). Laptops must be returned each day before the Helpdesk closes.

Technical Assistance

If you need technical assistance using Canvas, you can chat with their 24/7 Technical Support Center at https://cases.canvaslms.com/liveagentchat?chattype=student .

For support using Zoom, go to the Temple University Zoom support web page.

It's also helpful if you let me know about any technical difficulties you encounter so I can continue to improve the course.

If you have trouble with your username and password, contact TUHelp for assistance.

Assignments:  

Assignments consist of voluntary ones and required ones.

Voluntary: Reading assignments & Quizzes

Required: 12 tests, 3 mid-terms, and the final exam

Reading assignments:  After each lecture, I will give you a reading assignment, which is the part of the textbook I will cover in the next lecture.

Quizzes:  After each lecture, I will post a quiz on CANVAS to check if you really understood the lecture. You can receive extra points from the quiz. However, the quizzes assignments are voluntary, not required. It will not hurt your grade even if you miss them.

Tests:  I will post a test on CANVAS after Monday (or Wednesday) lecture. Check the class schedule below.

Exams:  We have three mid-term exams and the final exam. Unlike other assignments, exams are not given online; you have to take them in the classroom. Exams are closed-textbook, closed-notebook, and no electric gadget is allowed except a simple calculator (you may not use smart phone as your calculator!) But, you may have one A4 size paper as a cheating paper. You may write on the paper equations, formulas or anything that you think will help you in exam by HAND.

Assignments and Information on Canvas:

When I post a quiz or a test, I make an announcement on CANVAS with its due. Unfortunately, I cannot promise you the exact time I will post them (especially quizzes, since I will make them after lectures on which quizzes are based.) So, please do not forget checking the announcements.

Important:
Check your answers before you submit it and after it graded!

III. Evaluation

Points of quizzes are extra, and as you can see below, the sum of test and exam points is 100. This means, you do not need to answer quizzes to obtain 100%. The points of quizzes are extra, given to help your grade, but not necessary for you to receive good grade. However, answering quizzes helps not just your grade but also your understanding of Economics!

Points of assignments: 

Test ...................................…. 2 points each (24 points in total)

Mid-term ............................. 15 points each (45 points in total)

Final Exam …...…………... 31 points

Grade Scale:

If you do not miss any required assignments (i.e., tests and exams), the percentage score CANVAS gives you is correct. However, if you miss any of the required assignments without receiving their makeup, the percentage score CANVAS gives you is NOT correct, higher than the true percentage. So, if you miss any of the required without makeup, you need to calculate the true percentage score by yourself. After the final exam, finding your true percentage score is easy. Since the total points of all required assignments are 100 points, your points are equal to your percentage score. However, finding your tentative grade in the middle of the semester is a bit more cumbersome. To find it, first, check your total points. Second, calculate the total points from the required assignments already done. Third, calculate your percentage score by dividing your total points by the points of the required already done. Then, check the grade scale below.

    93 -  100:  A 90 - 92.99:  A-

87 - 89.99:  B+     83 - 86.99:  B 80 - 82.99:  B-

77 - 79.99:  C+     73 - 76.99:  C 70 - 72.99:  C-

67 - 69.99:  D+     63 - 66.99:  D 60 - 62.99:  D-

00 - 59.99:  F

   Example: Consider the situation after the 1^st mid-term exam. So, there have been 4 tests and the mid-term exam. But you missed one test without receiving a makeup for it. From the assignments, you obtained 2 points from quizzes, 6 points from tests, and 10 points from the exam. Then, your total points are 2 + 6 + 10 = 18 points, and the total of the required (4 tests, not 3 tests, and the 1st mid-term) is 4×2 + 1×15 = 23 points. So, your percentage score is 18/23, which is about 78.3%. So, your grade is C+.

Warning: I will NOT curve!

IV. (Tentative) Semester Schedule:

This schedule is subject to change. Please check email and Canvas regularly for important updates.

   Exam dates:

1^st mid-term on Oct. 4

2^nd mid-term on Nov. 1

3^rd mid-term on Dec. 2

Final exam on Monday, December 9, 14:00 - 16:00

Date           Exam/Test        Chapter

Sep. 2 Syllabus explanation & Ch.2

Sep. 4 Ch.2

Sep. 6 Ch.2

Sep. 9     Test Ch.3

Sep.11 Ch.3

Sep.13 Ch.3

Sep.18  Test Ch.3

Sep.20 Ch.4

Sep.25  Test Ch.4

Sep.27   Ch.4

Sep.30  Test   Ch.4

Oct. 2   Ch.5

Oct. 4 Exam 1

Oct. 7  Test Ch.5

Oct. 9    Ch.5

Oct.11 Ch.5

Oct.16      Test Ch.5

Oct.18        Ch.6

Oct.21  Test  Ch.6

Oct.23   Ch.6

Oct.25 Ch.6

Oct.28  Test Ch.6

Oct.30 Ch.6

Nov. 1 Exam 2

Nov. 6  Test Ch.6

Nov. 8 Ch.6

Nov.11  Test Ch.6

Nov.13 Ch.6

Nov.15   Ch.7

Nov.18  Test   Ch.7

Nov.20 Ch.7

Nov.22   Ch.7

Nov.25  Test Ch.8

Nov.27   Ch.8

Nov.29   Ch.8

Dec. 2 Exam 3

Dec. 9       Final Exam

V. Four Notes:

1. Check your answer after it’s graded!  I will post on the CANVAS the answers of quizzes, tests and exams as soon as possible. So, after I post the answer, check your graded answer. If you find any mistake in my grading, let me know about it BEFORE THE NEXT LECTURE except exams. Then, I will correct my mistake. If you report a mistake in my grading in assignments other than exams after the next lecture, I will NOT CORRECT MY MISTAKE! So, NO CHANGE IN YOUR GRADE! Regarding exams, since I will return your graded answer in the next lecture (other than final exam), you need to report the mis-grading in exams before the two lectures after the exam given.

2. Makeup and Late submission penalty:

There will be NO MAKEUP FOR QUIZZES. If you miss them (or submit them after their due), you will receive no point from them. However, if you miss (or late-submit) a test or an exam for some legitimate reason (like illness, family trouble, or internet connectivity problem, etc.), please give me the proof. If I am convinced that it was not your fault, then I will consider what I can do. However, I do not guarantee that I will give you a makeup (Maybe I would not do anything, and you would simply lose points of the exam). Moreover, even if I accept your answer, please expect SOME PENALTY like you lose one point.

3. Use email or Inbox:

When you want to contact me, use the email or Inbox on CANVAS. However, since the online assignments are given on the Assignments on CANVAS, sometimes students use the comment section in the Assignment of CANVAS to contact me. But if you use the comment section, very often I do not notice your comments. So, when you want to tell me something, use the Email or Inbox.

4. No Extra Assignment and No curve:

There will be no assignment after the final. Also, please understand that I will not curve!