The Syllabus for International Trade and Monetary Policy of Korea
The Syllabus for International Trade and Monetary Policy of Korea
The Syllabus for International Trade and Monetary Policy of Korea
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<strong>The</strong> <strong>Syllabus</strong> <strong>for</strong><strong>International</strong> <strong>Trade</strong> <strong>and</strong> <strong>Monetary</strong> <strong>Policy</strong> <strong>of</strong> <strong>Korea</strong><strong>The</strong> Masters in <strong>Korea</strong>n Economy ProgramGraduate School <strong>of</strong> Pan-Pacific <strong>International</strong> StudiesKyung Hee University22 June ~ 14 Aug. 2009Instructor : Pr<strong>of</strong>. In-chul KimEmail address : ickim@skku.ac.krClass Period : 09:00 ~ 11:45, Mondays & WednesdaysTel.: 02-760-0428Office Visit : By appointment Fax : 02-745-4367Ⅰ. Course ObjectivesThis course is designed to teach first-year graduate students boththeoretical <strong>and</strong> institutional aspects <strong>of</strong> <strong>Korea</strong>’s trade <strong>and</strong> monetarypolicy. Those who take this course <strong>for</strong> credit are expected to learn<strong>Korea</strong>’s economic background against which trade <strong>and</strong> monetarypolicies have been undertaken. Also they are expected to learn<strong>Korea</strong>’s trade <strong>and</strong> financial policy instruments In addition, they canapply the lessons from the <strong>Korea</strong>n experience into other countriesthat are moving towards industrially advanced countries.Ⅱ. PrerequisitesExposure to a couple <strong>of</strong> economic principles courses, introductorylevel <strong>of</strong> international trade <strong>and</strong> monetary economics, basic statistics isdesirable but not m<strong>and</strong>atory.- 1 -
4. Asian Currency Crisis(1) Determinants <strong>of</strong> Financial Crisis(2) <strong>The</strong> IMF’s Response to the Asian CrisisⅣ. <strong>The</strong> Course ScheduleDate Topic ReadingsWeek 1(Mon)Introduction to <strong>Trade</strong> policy(Wed) Benefits from <strong>Trade</strong>Conventional <strong>Trade</strong> <strong>The</strong>ories<strong>The</strong> Instruments <strong>of</strong> <strong>Trade</strong> <strong>Policy</strong>Week 2 <strong>Trade</strong> Protection <strong>The</strong> Instruments <strong>of</strong> <strong>Trade</strong> <strong>Policy</strong>Tariff ProtectionInfant Industry ArgumentWeek 3 <strong>Trade</strong> <strong>Policy</strong> in Developing countries Import Substitution<strong>Korea</strong>`s <strong>Trade</strong> policyExport PromotionWeek 4 Pros <strong>and</strong> Cons <strong>of</strong> FTAFree <strong>Trade</strong> Agreements <strong>and</strong> theStructure <strong>of</strong> <strong>Trade</strong> protectionMid- termWeek 5 Introduction to <strong>Monetary</strong> <strong>Policy</strong>Mishikin`s Chapter 17( Tools <strong>of</strong> <strong>Monetary</strong> policy)Goal <strong>of</strong> <strong>Monetary</strong> policyBOK`s <strong>Monetary</strong> <strong>Policy</strong> OperationWeek 6 <strong>Monetary</strong> <strong>Policy</strong> FrameworkMishikin`s Chapter 18(Goal & Targets)<strong>Monetary</strong> <strong>Policy</strong> InstrumentBOK`s <strong>Monetary</strong> <strong>Policy</strong> DecisionWeek 7 Effectiveness <strong>of</strong> <strong>Monetary</strong> <strong>Policy</strong>Mishikin`s Chapter 20(<strong>Monetary</strong> <strong>Policy</strong> Strategy)<strong>The</strong> IMF`s Response to the Asian<strong>The</strong> 1997 Financial CrisisCrisis.What Happened to Asia ?Week 8 Future Direction <strong>of</strong> <strong>Monetary</strong> <strong>Policy</strong> <strong>Policy</strong> mix <strong>Monetary</strong> CooperationFinal ExamⅤ. References- Baldwin, Robert E., "Determinants <strong>of</strong> the Commodity Structure <strong>of</strong>U.S <strong>Trade</strong>," American Economic Review, March 1971.- Grubel, H.G. <strong>and</strong> P.J Lloyd, "Intra-Industry <strong>Trade</strong>: <strong>The</strong> <strong>The</strong>ory <strong>and</strong>Measurement <strong>of</strong> <strong>International</strong> <strong>Trade</strong> in Differentiated Products,"1975.- Heckscher, Eli, “<strong>The</strong> Effect <strong>of</strong> Foreign <strong>Trade</strong> on the Distribution <strong>of</strong>- 3 -
Income,” Economisk Tidsktift, 1919. Reprinted in Readings inthe <strong>The</strong>ory <strong>of</strong> <strong>International</strong> <strong>Trade</strong>, eds. Howard S. Ellis <strong>and</strong>Lloyd A. Metzler, Philadelphia: <strong>The</strong> Blakiston co.,1949, Chap.Ⅻ.- Jagdish Bhagwati, "Protection, Real Wage <strong>and</strong> Real Income,"Economic Journal, December 1959. Reprinted in <strong>International</strong><strong>Trade</strong>, ed. Jagdish Bhagwati, Baltimore: Penguin books, Inc.,1969.- Jones, Ronald W., "Factor Proportions <strong>and</strong> the Hecksher-Ohlin<strong>The</strong>orem," Review <strong>of</strong> Economic Studies, 1956~1957. Reprintedin <strong>International</strong> <strong>Trade</strong>, ed. Jagdish Bhagwati, Baltimore:Penguin books, Inc., 1969.- Leontidef, Wassily W., "Domestic Production <strong>and</strong> Foreign <strong>Trade</strong>:<strong>The</strong> American Capital Position Reexamined," Economic<strong>International</strong>, February 1954.- Ohlin, Bertil, Interregional <strong>and</strong> <strong>International</strong> <strong>Trade</strong>, Cambridge:Harvard University Press, 1933.- Rybczynski, T.M., "Fact Endowment <strong>and</strong> Relative CommodityPrices," Economica, November 1955.- Samuelson, Paul A., "<strong>International</strong> <strong>Trade</strong> <strong>and</strong> the Equalization <strong>of</strong>Factor Prices," Economic Journal, June 1948.- IMF, <strong>The</strong> IMF`s Response to the Asian Crisis, January 1999.- Krugman, Paul, What Happened to Asia?, May 2004.- Mishikin Frederik R, Money <strong>and</strong> Banking, Chapter 17-20- <strong>The</strong> Bank <strong>of</strong> <strong>Korea</strong>. <strong>Korea</strong>`s <strong>Monetary</strong> <strong>Policy</strong> , a few Chapters,2001.- <strong>The</strong> Bank <strong>of</strong> <strong>Korea</strong>, "<strong>Monetary</strong> <strong>Policy</strong> Operation", <strong>Monetary</strong> <strong>Policy</strong>Report, March 2003.- <strong>The</strong> Bank <strong>of</strong> <strong>Korea</strong>, "<strong>Monetary</strong> <strong>Policy</strong> Decision", Quarterly Bulletin,March, 2004.- <strong>The</strong> Bank <strong>of</strong> <strong>Korea</strong>, Financial System in <strong>Korea</strong>, December 2003.- 4 -
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