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Introduction
This is a class on globalization that focuses on economic development and economic growth. Like Adam Smith's masterpiece, our main task is "An Inquiry Into the Wealth of Nations". Our essential question for the semester is: Why are some nations rich and others poor? We will use the conventional economic models you learned in AP Economics as well as some less conventional models from the field of behavioral economics as tools in studying development and growth. Our main text will be the Core Economics ebook (please bookmark it). Our secondary text will be Poor Economics by Abhijit Banerjee and Esther Duflo. We will use the book website (here) and the website for the course that Professors Banerjee and Duflo teach at MIT (here). Please bookmark them too. This calendar contains information about homework, assignments that are due, and class resources. It also has information about what we'll be doing each day. Click here to see a showcase of some of the work that students have done in this class over the years. My email address is phopkins@sas.edu.sg.
THIS SHORT VIDEO IS A GOOD INTRODUCTION TO THE KINDS OF MACRO ISSUES WE WILL STUDY.
AND THIS ONE IS A GOOD INTRODUCTION TO THE KINDS OF MICRO ISSUES WE WILL STUDY.
UNIT 1: THE CAPITALIST REVOLUTION (Guided and Shared Inquiry)
UNIT 1: THE CAPITALIST REVOLUTION (Guided and Shared Inquiry)
Essential Question: What are the domestic determinants of economic development?
January 15/16: Income and Living Standards (Guided Inquiry)
January 17/18: The Permanent Technological Revolution (Guided Inquiry)
January 22/23: The Economy and the Environment (Guided Inquiry)
January 24/25: The Capitalist Economic System (Guided Inquiry)
January 26/29: Capitalism, Causation, and History's Hockey Stick (Guided Inquiry)
January 30/31: Capitalism (Institutions, Government, and the Economy) and Economics (Guided Inquiry)
February 1/2: Work Day (Shared Inquiry Paper #1)
February 5/6: Work Day (Shared Inquiry Paper #1)
February 7/8 (Class before Interim): Shared Inquiry Paper #1 Due (Summative)
UNIT 2: THE NATION AND THE WORLD ECONOMY (Guided and Shared Inquiry)
UNIT 2: THE NATION AND THE WORLD ECONOMY (Guided and Shared Inquiry)
Essential Question: How has globalization affected national economies and economic stakeholders internationally?
February 21/22 (First class after Interim): Globalization and Deglobalization in the Long-run (Guided Inquiry)
February 23/26: Globalization and Investment (Guided Inquiry)
February 27/28: Globalization and Migration (Guided Inquiry)
March 1/2: Specialization - Comparative Advantage and Factor Endowments (Guided Inquiry)
March 5/6: Winners and Losers from Trade (Guided Inquiry)
March 7/8: Migration - Globalization of Labor (Guided Inquiry)
March 9/12: Globalization and Anti-globalization (Guided Inquiry)
March 13/14: Trade and Growth (Guided Inquiry)
March 15/16: Work Day (Shared Inquiry Paper #2)
March 19/20: Work Day (Shared Inquiry Paper #2)
March 21/22:
Shared Inquiry Paper #2 Due (Summative)
Read this summary of 20th Century macroeconomic theory. It was written by Paul Krugman, a Nobel Laureate.
UNIT 3: SAS ECONOMICS CULMINATING PROJECTS (Open Inquiry)
UNIT 3: SAS ECONOMICS CULMINATING PROJECTS (Open Inquiry)
Essential Question: How can we solve pressing development problems (global and local)?
PROJECT #1: RESEARCH PAPER
PROJECT #1: RESEARCH PAPER
March 23 (Day before Spring Break)/April 2 (Day after spring break)
Research question and working thesis due by end of class.
April 3 (Class after Spring Break)/4: Research papers (Initial bibliography and outline due by end of class. Last day to change topic.)
April 5/6: Research papers (Start digital notecards. Use this template for your notecards.)
April 9/10: Research papers (Digital Notecards due by end of class. Use this template for your notecards.)
April 11(Wednesday before IASAS)/12: Research papers (Begin first draft.)
April 13/16 (IASAS): Research papers (Continue working on first draft.)
April 17/18: Research papers (First draft due at the end of class.)
April 19/20: Research papers (First Draft Peer Review and Work Day)
April 23/24: Research papers (Work on revised draft)
April 25/26: Research papers (Revised draft due at the end of class.)
April 27/30: Research papers (Final Draft Due at the End of Class - Summative)
PROJECT #2: SOCIAL ENTERPRISE PROBLEM
PROJECT #2: SOCIAL ENTERPRISE PROBLEM
May 2/3: Begin Social Entrepreneurship Project
Problem Presentation: Yoke Pean (founder of Wise-Wash) will present a problem that her social enterprise (Wise-Wash) is currently trying to solve.
May 4/7: Why is Wise-Wash's work important?
Group work: Form groups and discuss Wise-Wash problem in groups after watching these videos.
Blog post: The economics of hygiene and sanitation
What are the root economic causes of problems related to hygiene and sanitation?
What are the economic effects of poor hygiene and sanitation?
What are some strategies to improve hygiene and sanitation in poor countries?
May 8/9: How does thinking automatically cause irrational behavior and does it apply to our problem?
Read and annotate Chapter 1 of the 2015 World Development report. Base your annotations on the question above.
Work with your group on the Wise-Wash problem.
May 10/11: How does thinking socially cause irrational behavior and does it apply to our problem?
Read and annotate Chapter 2 of the 2015 World Development Report. Base your annotations on the question above.
Work with your group on the Wise-Wash problem.
May 14/15: How does thinking with mental models cause irrational behavior and does it apply to our problem?
Read and annotate Chapter 3 of the 2015 World Development Report. Base your annotations on the question above.
Work with your group on the Wise-Wash problem.
May 16/17: Is our problem one that is similar to what Banerjee and Duflo call "low hanging fruit"?
Read and annotate Chapter 3 of Poor Economics. Base your annotations on the question above.
Work with your group on the Wise-Wash problem.
May 18/21: How do Banerjee and Duflo's ideas about saving behavior apply to our problem?
Read and annotate Chapter 8 of Poor Economics. Base your annotations on the question above.
Work with your group on the Wise-Wash problem.
May 22/23: Work with your group on the Wise-Wash problem.
May 24/25: Update Presentation Due (10% of Exam/Presentation grade). It should be 8-10 minutes long. The purpose of this presentation is to update the class on the progress you have made so far and to get some feedback before the final workday. Respond to each of these prompts in your presentation:
This is what we thought: What was your initial guess at the answer to this problem?
This is what we did: What process did you use to validate/invalidate your hypothesis?
This is what we learned: Explain what you know now about the problem, how it relates to the economy and economic decisions, and also what you have learned about whether your initial guess is plausible. Every assertion should be supported by specific (sourced) evidence in this part of the presentation.
This is what we are doing next: What have you not done that still needs to be accomplished in order for you to deliver an exemplary presentation? How will you get these things done?
This is what we are keeping in mind: What are some of the limitations of our project and the challenges/hurdles we still face?
May 28/30 (Exam Review Days): Work with your group on the Wise-Wash problem.
May 31 (A3) and June 5 (B2): Group presentations on the Wise-Wash problem.
EXTENSION PROJECT: POOR ECONOMICS DOCUMENTARY
EXTENSION PROJECT: POOR ECONOMICS DOCUMENTARY
This project is intended for those students interested in demonstrating further mastery of the course content. Documentaries are non-fiction films. In this documentary video (5-7 minutes) you will explore the ideas in one or more of the chapters of Poor Economics by Abhijit Banerjee and Esther Duflo. Your documentary should highlight a problem or issue discussed in the book by telling the story of one or more people. The documentary should include interviews that reflect multiple sides of the story, voiceover narration, music, and researched evidence about the issue or idea you are documenting.
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