What Sort of Global Education is Needed? Towards a Modification of International Economics Instruction

Standard instruction in international economics reflects a relatively narrow view of global education and ignores important elements of the literatures on both globalization and international economic policy. The standard syllabus needs to be supplemented with a set of underemphasized topics to make it more relevant to both students and professionals. These topics include intra-industry trade, Foreign Direct Investment (FDI), spatial clusters, open economy accounting and its implications for explanations of exchange rate determination, the policy ‘trilemma,’ international economic institutions, aid, and migration. This paper briefly considers each of these topics and suggests ways to best communicate their important attributes in the classroom. This modified syllabus would increase the global education value of international economics and make it more relevant to the way international economics is practiced in international organizations, including trade ministries, financial ministries, and the major international financial institutions