Terry D. Monson

Terry D. Monson
Professor of Economics
School of Business and Economics
Michigan Technological University

E-Mail: tmonson@mtu.edu
Address: 1400 Townsend Dr., Houghton, MI 49931
Phone: (906) 487-3174
Fax: (906) 487-2944


 

 

 

 


 

EC3100 International Economics

Second Summer Track, 2007

INSTRUCTOR:

Terry Monson, 116 Academic Office Building

PHONE:

487-3174

E-MAIL:

tmonson@mtu.edu

TEXT:

Sawyer and Sprinkle, International Economics, 2nd edition

OFFICE HOURS:

MTWR 11:00 – 12:00

PREREQUISITES:

EC3001 or equivalent

 

Contact Information

Email:  tmonson@mtu.edu

Phone: 487-3174

Office: 116 Academic Office Building and later 105 Academic Office Building

 

IMPORTANT DATES

 

Quiz One

Monday,  July 9 (in-class)

Quiz Two

Monday, July 16 (in-class)

Quiz Three

Monday, July 23 (in-class)

Quiz Four

Monday, July 30 (in-class)

Quiz Five

Monday, August 6 (in-class)

Quiz Six

Monday, August 13 (in-class)

Quiz Seven

Friday, August 17 (take-home)

 

EC3100 Syllabus

Extra credit assignment

Please advise your instructor if you find questions for which you think the identified correct answer is, in fact, incorrect

Sample Questions on Comparative Advantage

Sample Questions on the HOS and Other Trade Models (chs. 3-5)

Notes on the Factor Proportions Theory

Handout on wages and K/L Ratios

Practice Questions for Quiz 2

Sample Questions on Tariffs and Nontrade Barriers (chs.  6-7)

Handout: Large Country Analysis of a Tariff

Handout:  Effective Protection

Comparison of Tariffs, Subsidies and Quotas

More practice questions on trade barriers

Sample Questions on Trade Policy and Preferential Trading Arrangements (chs. 8-9)

Sample Questions on Balance of Payments Accounts and Foreign Exchange markets (chs. 11-12)

Notes on balance of payments accounts

Classification of Exchange Rate Regimes - handout

Handout on chapter 14

Handout on chapter 15

Sample Questions for Chapters 14-15

Quiz 7 (Take-Home due Friday, August 17)

Zimbabwe's hyperinflation

Supplemental notes for chapters 16-18

Power Points

Micro Portion (Trade Theory)

Ch. 8

Ch. 1

Ch. 9

Ch. 2

Macro Portion (BoP and XRs)

Ch. 3

Ch. 11

Ch. 4

Ch. 12

Ch. 5

Ch. 13

Ch. 6

Ch. 14

Ch. 7

Ch. 15

 


 


Professional

Research Interests

Currently, my research involves investigation of monopsonistic practices in the determination of university faculty salaries. Other research activity focuses on the impacts of anti-dumping actions on U. S. industry.

Teaching Interests

My primary teaching interest is EC3100 International Economics. This course is required for SBE majors and is often elected by non-SBE majors. It is a policy-oriented course intended to provide an understanding of current international economic issues (such as NAFTA, US-Japanese trade problems, and charges of unfair import competition) and their implications for the US government, businesses, and consumers. Its goal is to provide students with a background to be able to understand and intelligently interpret current economic controversies. Besides EC3100, I also regularly teach EC3700 Labor Economics, and have taught courses in economic theory, money and banking, mineral economics, and development economics.

I believe that the ultimate aim of a course is student learning and that a good teacher is one who provides every opportunity for students to learn, understand, and apply course material. Good teachers not only present course material but facilitate student learning of this material through applications, relevant examples, and frequent testing. In my EC3100 classes, I allow students to take "second chance" tests to improve their performances. Students can take these second chance tests and have their scores averaged with their scores on their first attempt at the tests. On average, this procedure has raised the average GPA of the class by about 0.15 since it was instituted. Student reactions have been uniformly positive.

Biographical

My educational background includes a Ph.D. in international economics (1972) and a M.A. in economics (1968) from the University of Minnesota and a B.A. in economics (1966) from Oakland University. I have spent my career almost entirely in academia. Prior to joining the SBE faculty in 1977, I taught at Washington State University (1971-72), at the National University of the Ivory Coast (1972-75) under the auspices of a program of the Center for Research on Economic Development at the University of Michigan, and at Illinois State University (1975-77). On professional leave from MTU during 1990-2, I worked for the United States Treasury Department on assignment as a senior economist in the Saudi Arabian Ministry of Finance and National Economy. During 1992-94, I served as the SBE's interim dean. From 1994-2002, I served as the SBE's associate dean.

My career has involved extensive international experience as a student, teacher, researcher, and consultant. Besides my two years in Saudi Arabia, I spent the summer of 1965 as an undergraduate at the University of Nssuka (Nigeria), traveled extensively in Turkey and West Germany during 1970-71 collecting data for my Ph.D. dissertation, spent six months in France in 1972 for language training, taught two years in the Ivory Coast, revisited the Ivory Coast in the summer of 1978 as a consultant for the National Bureau of Economic Research, and consulted for the World Bank in Liberia during the summers of 1979 and 1980. I took advantage of these overseas opportunities to visit most countries on the Arabian Peninsula and in western Africa and Europe, as well as Kenya, Egypt, and Cyprus. This broad international experience has provided a solid background for my primary teaching responsibility in the SBE (EC3100 International Economics).

As a native of the Upper Peninsula, I was very pleased to join the SBE faculty in 1977. I found that the SBE offered quality programs, that it was a pleasure to be involved in the education of MTU's superior students, and that, despite the long winters, the Keweenaw's quality of life was unbeatable. Those features have not changed during the past 23 years.

Links

The Dismal Scientist
St. Louis Fed
Resources for Economists
Chicago Fed
Dr. T's Economics Links
Jokes about economists
Exchange Rates
US International Trade Commission

 


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