COURSE TITLE: ECONOMIC INTEGRATION COURSE CODE: ECON 3020 (EC 32F) LEVEL: UNDERGRADUATE LEVEL NO OF CREDITS: 3 PREREQUISITES: ECON 2000, ECON 2002

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1 COURSE TITLE: ECONOMIC INTEGRATION COURSE CODE: ECON 3020 (EC 32F) LEVEL: UNDERGRADUATE LEVEL NO OF CREDITS: 3 PREREQUISITES: ECON 2000, ECON 2002 COURSE DESCRIPTION / RATIONALE: This course seeks to provide students with a relatively strong foundation in integration theory measurement and policy. The course will discuss the critical theoretical concepts in integration developed by Balassa, Viner, Meade, Bhagwati, Panagariya, Cooper-Masell, Johnson and Demas. The course will review as far as possible integration experiences in the Single European Market, the North American Free Trade Area (NAFTA), the Caribbean Community (CARICOM) and the Central American Common Market (CACM). PURPOSE OF THE COURSE The purpose of the course is to highlight some of the important trade matters affecting the region and which are currently taking place at regional, hemispheric and global levels. INSTRUCTOR INFORMATION LECTURER: Dr. Roger Hosein LECTURER s [email protected] LECTURER s PHONE CONTACT: EXT 3041

2 2 CONTENT 1. Macroeconomic overview of the international, regional and global economy in the context of the economic slowdown. 2. Theoretical fundamentals of economic integration, including the Cooper Massel condition 3. Economic Integration through Sports: Olympics, Athletics and building social cohesion in CARICOM. 4. Central American Economic Integration: Case SICA. 5. Economic Integration and the informal sector: The role of Informal commercial importers: Case Caribbean Higglers 6. Growth, structural change and vulnerability, in CARICOM countries 7. CARIFORUM-EU economic partnership agreement: the welfare impact and implications for policy in T&T 8. CARICOM: some salient factors affecting trade and competitiveness 9. Trade policy, integration and growth in the Caribbean 10. CSME and the intra regional migration of nurses: some proposed opportunities GOALS/AIMS To equip students with an adequate set of tools; theoretic and practical; to understand regional trading blocs. GENERAL OBJECTIVES To simplify the theory of regional integration into practical easy to follow steps. TOPIC OR UNIT OBJECTIVES ASSIGNMENT Students will be required to attempt tutorial sheets and attend tutorial sessions Students will also be required to undertake a project The Project questions are as follows: COURSE ASSESSMENT 20% Coursework 80% final Examination TEACHING STRATEGIES The mode of teaching will be via face to face lecturers and tutorials sessions.

3 3 RESOURCES Lecture notes will be provided to the class via the online course profile Readings from texts are also provided. READINGS Recommended and General Texts on Integration Tewarie B. and Hosein R, (2007), Trade Investment and Development in the Contemporary Caribbean, Ian Randle. Readings required per topic is listed below

4 4 COURSE CALENDAR Topic Reading Week Macroeconomic i. UNECLAC (2009), Preliminary Overview of Caribbean Economies overview of the ii. Lall (2008) IMF Predicts Major Global Slowdown Amid Financial international, regional Crisis. World Economic Outlook. Available at and global economy in the context of the iii. Central Bank of Trinidad and Tobago (2008) Speech by the Governor economic slowdown. of the Central Bank, The Impact of Global Events of Caribbean Economies. Available at: iv. CMMB: Emerging Markets Weekly (2009): A Reversal of Luck for Trinidad and Tobago in 2009? Theoretical fundamentals of i. Chapter 11-15: Trade Text Manuscript: International Trade Theory, with Application to the Caribbean. economic integration, ii. Vamvakidis, A., (1998), Regional Integration and Economic Growth. including the Cooper The World Bank Economic Review, vol.12, no.2 pp Massel condition iii. Tewarie B. and Hosein R, (2007), Trade Investment and Development in the Contemporary Caribbean, Ian Randle. Chapter 3. iv. Viner, J., (1950), The customs union issue. Carnegie Endowment for International Peace, New York, NY, USA; Stevens and Sons, London, UK. Economic Integration through Sports: Olympics, Athletics and building social cohesion in CARICOM. Central American Economic Integration: Case SICA Economic Integration and the informal sector: The role of Informal commercial importers: Case Caribbean Higglers Growth, structural change and vulnerability, v. Hosein, R and Khadan, J (forthcoming) i. Robinson P. L. (2007), Jamaica Track and Field, A Model for the World. ii. Tcha, M. and Pershin, V. (2003). Reconsidering Performance at the Summer Olympics and Revealed Comparative Advantage, Journal of Sports Economics, Vol. 4 (3), August, iii. Bernard, A. B. and Busse, M. R. (2000). Who Wins the Olympic Games: Economic Resource and Medal Totals. NBER working paper, August iv. Sinclair Donald 2005, 537- Sports Education a Priority for Caribbean Sports Tourism. International Journal of contemporary Hospitality Management Vol 17, no FTAA, Output Adjustments and Income redistribution in a Small Open Economy: The case of Peru. Journal of Economic Development, Vol 29 # 1, June i. Witter, M. (ed). (1989). Higglering, Sidewalk Vending, Informal Commercial Traditions in the Jamaican Economy. Proceedings of a Symposium. UWI, Department of Economics, Occasional Paper No. 4, Jamaica ii. Women in Informal Employment: Globalizing and Organizing (WIEGO) (2001). A Policy Response to the Informal Economy, WIEGO, iii. Vaknin, S. (2005), Trading from a suitcase: Shuttle trade and Global Black Market, iv. ILO (2001), Booklet 4, Organizing the unorganized informal economy and other un protected workers. v. Hosein et al (2008) Informal Commercial Importers in the Caribbean: Evidence from Trinidad and Tobago and Guyana. (paper sent to Social and Economic Studies) i. World Bank, (2005), A Time to Choose: Caribbean Development in the 21 st Century

5 5 in CARICOM countries CARIFORUM-EU economic partnership agreement: the welfare impact and implications for policy in T&T CARICOM-Canada FTA: the welfare impact and implications for CARICOM countries. CARICOM: some salient factors affecting trade and competitiveness ii. Jessen A., and Vignoles C., (2003), Trinidad and Tobago Trade Policy Issues in an Era or growing Liberalization. INTAL-IND Occasional Paper iii. Arthur, O., (2001), The Promise and the Peril: A Caribbean Perspective on the FTAA. Key Note Address at the CLAA Miami Conference on Free Trade and Integration Implications for the Caribbean Basin CLAAMiamiConference.pdf iv. Aron, J., (2000), Growth and Institutions: A Review of the Evidence. The World Bank Research Observer, vol. 15, no. 1, pp v. Hosein R., (2008) Regional Economic Partnership Agreement and the Implications for CARICOM Development into the 21 st Century. Caribbean Journal of International Relations. vi. (2002) Growth, Structural Change and Vulnerability in Caricom Countries Global Development Studies 21 century International Development Options Winter 2002 Spring pp vii. Tewarie B. and Hosein R, (2007), Trade Investment and Development in the Contemporary Caribbean, Ian Randle. Chapters 1 and 6 i. Greenaway D., and Milner C., (2003), A Grim REPA. GEP Research Paper 03/ _30.pdf ii. Nicholls, S., Christopher-Nicholls J., and Colthrust P., (2000c), Evaluating the Fiscal Impact of a Regional Partnership Agreement between the European Union and CARICOM. iii. Bhagwati, J., Greenaway D., and Panagariya, A., (1998), Trading Preferentially: Theory and Policy. Economic Journal 108(449), iv. Arora, V., and Vamvakidis, A., (2004), How much do trading partners matter for economic growth. IMF Paper, WP/04/26. v. Hosein R., (2008) CARIFORUM-EU Economic Partnership Agreement: the Welfare Impact and implications for policy in T&T, Journal of Business, Finance and Economics in Emerging Economies. vi. Girvan, N. (2009). The Caricom-Canada FTA: What s the hurry? vii. Wharton, Carlos (2009). The Future of CARICOM Trade Relations with the US and Canada: A Review of CBI & CARIBCAN and Prospectus for Future Trade Relations. viii. Khadan, J and Hosein, R. (forthcoming). The proposed CARICOM- Canada FTA: What is in it for CARICOM states? i. Brewster, H and Thomas, C.Y. (1967) The Dynamics of West Indian Integration, Mona,Jamaica: I.S.E.R., University of the West Indies. ii. Kolodko G., (2003), Structural Reform and Economic Growth in The Opening and Closing Balance, TIGER Transformation, Integration and Globalization Economic Research, Leon Kozminski Academy of entrepreneurship and Management (WSPiZ), Warsaw ( ). iii. Rodrik D (2004), Getting Institutions Right. iv. Hosein R., (2008) CARICOM: Some Salient Factors Affecting Trade and Competitiveness, Journal of Commonwealth International Affairs. 7 8 Trade policy, integration i. Gonzales, A. (2001), Caribbean Integration in the Next Decade: A 9

6 6 and growth in the Caribbean Strategic Vision for the New Millennium, in Kenneth Hall eds, The Caribbean Community: Beyond Survival, Inn Randle Publishers, Kingston. ii. Nicholls, S. et. al. (2000), The State and Prospects for the Deepening and Widening of Caribbean Integration. Paper prepared for submission to a special issue of the World Economy on Global Economic Developments (Trinidad). iii. Pollard, Duke, (1998), The Community: Restructuring for the New Millennium, CARICOM Perspective, Vol. 68, pg. 25. iv. Schiff, M (1997), Small is Beautiful: Preferential Trade Agreements and the Impact of Country Size, Market Share, Trade Policy and Smuggling, Journal of Economic Integration, 12 (3), CSME and the intra i. Stilwell B., et. al Migration of Health Care Workers from regional migration of Developing Countries: Strategic Approaches to its Management. nurses: some proposed Bulletin of World Health Organization 82 (8) , WHO, Geneva, opportunities Switzerland. ii. Stubbs. J. and Reyes, H Migration in the Caribbean: A Path to Development. En Breve, May, No. 48. iii. Thomas-Hope E Skilled Labor Migration from Developing Countries: Study on the Caribbean Region. International Migration papers 50. International Labor Organization, Geneva, Switzerland. iv. Yan, J Caribbean Nurses Develop Strategy for Nurse Shortages. International Nursing Review, 49: v. Yan, J Managed Migration of Skilled Nursing Personnel, 10 th COHSOD Meeting, Tobago. vi. Hosein R., (2006) Conceptualizing A Strategic Approach to Mode 4 and the Managed Migration of Nursing Skills. Social and Economic Studies Vol 55, No 4 pp vii. Hosein R., (2007) Caribbean Single Market Economy (CSME) and the Intra-Regional Migration of Nurses: Some Proposed Opportunities, Global Social Policy Vol 7, pp

7 7 ADDITIONAL INFORMATION Students are reminded of the University s Examination Regulations for First Degrees, Associate Degrees, Diplomas and Certificates including GPA Regulations: 19 Any candidate who has been absent from the University for a prolonged period during the teaching of a particular course for any reason other than illness or whose attendance at prescribed lectures, classes,... tutorials,... has been unsatisfactory or who has failed to submit essays or other exercises set by his/her teachers, may be debarred by the relevant Academic Board, on the recommendation of the relevant Faculty Board, from taking any University examinations. The procedures to be used shall be prescribed in Faculty Regulations. 97. (i) Cheating shall constitute a major offence under these regulations. (ii) Cheating is any attempt to benefit one s self or another by deceit or fraud. (iii) Plagiarism is a form of cheating. (iv) Plagiarism is the unauthorized and/ or unacknowledged use of another person s intellectual effort and creations howsoever recorded, including whether formally published or in manuscript or in typescript or other printed or electronically presented form and includes taking passages, ideas or structures from another work or author without proper and unequivocal attribution of such source(s), using the conventions for attributions or citing used in this University (i) If any candidate is suspected of cheating, or attempting to cheat, the circumstances shall be reported in writing to the Campus Registrar. The Campus Registrar shall refer the matter to the Chairman of the Campus Committee on Examinations. If the Chairman so decides, the Committee shall invite the candidate for an interview and shall conduct an investigation. If the candidate is found guilty of cheating or attempting to cheat, the Committee shall disqualify the candidate from the examination in the course concerned, and may also disqualify him/her from all examinations taken in that examination session; and may also disqualify him/her from all further examinations of the University, for any period of time, and may impose a fine not exceeding Bds$ or J$ or TT$ or US$ (according to campus). If the candidate fails to attend and does not offer a satisfactory excuse prior to the hearing, the Committee may hear the case in the candidate s absence. HOW TO STUDY FOR THIS COURSE Students should keep up-to-date with lectures, office hours and tutorials.

8 8 GRADING SYSTEM GRADE GPA MARKS% A and Over A A B B B C C C D D F