Department of International Economics and Law
Course Descriptions

Mathematics for Economic Analysis

This course teaches basic mathematical knowledge required to study economic theories. The basics of linear algebra, functions of multi-variables, and optimization theory are taught.

Principles of Economics (1), (2)
Defines the principles of economic consumption and production. Examines how prices are determined in perfect, independent, and imperfect competition markets respectively.

Develops the ability to draw an objective and reasonable conclusion through observation, classification, and analysis of natural and social phenomena. Teaches the basic concepts of descriptive and inferential statistics and methods of their application. Primarily discusses probability distribution, sampling theory, inferences and testing, index analysis, regression and correlation analysis, and time-series analysis.

Business Law
This course provides an examination of private and public law aspects of business transactions, including conflicts of law and foreign law issues. It examines the selection of the optimal business format including branch, subsidiary, joint venture, technology license and distributorship.

International Law
This course provides an examination of private and public law aspects of business transactions, including conflicts of law and foreign law issues. It examines the selection of the optimal business format including branch, subsidiary, joint venture, technology license and distributorship.

Macroeconomic Analysis
This course offers an analytical framework to better understand economic phenomena from a macroeconomic perspective. Students will understand the process through which the level and details of economic activities of a nation are determined and grasp how macroeconomic factors such as national income, prices, unemployment rate, interest rate, consumption, investment, employment, foreign exchange rate and international payments are determined. Students are then exposed to business fluctuations, a dynamic macroeconomic phenomenon, and inquire into the mechanism of continuous, long-term economic growth. Lastly, the impact of government policy on economic phenomena above is analyzed.

Regional Study Methodology
This course offers practical methodology for international and regional studies. The first half of the semester sums up important statistical techniques and concepts to learn how to use a statistics package. The second half utilizes actual data to statistically analyze general issues witnessed in international and regional studies.

International Commerce Law
This course looks at the basic principles and rules of international trade that is being newly formed with the embarkment of the WTO system. It deals with service trade, intellectual property rights, agriculture, and other areas that are emerging as items of the new trade agenda after the launch of the existing GATT system and also examines the dispute resolution procedures of the WTO system.

Microeconomics Analysis
Students examine the process of decision making by individual economic parties, identify the principles that determine market supply and demand of products and production factors, and logically understand the principles that determine and change market prices.

International Contract Law
In-depth knowledge of export and import procedures is required to smoothly carry out trade transactions. This course explores the meaning of trade transactions, market surveys, contract surveys, export and import procedures, export insurance, marine insurance, and letter of credit settlements, etc.

International Trade Theory
This course considers, from the perspective of comparative advantage, causes that trigger trade among nations and how profit from trade and trade patterns is determined. The goal is to understand the process of determining balanced trade conditions and the tendency where the cost ratio of production factors become equalized when trade is effected.
It studies the Leontief Paradox discovered in the process of practically verifying the Hecksche-Ohlin theory and the new trade theory intending to replace the Heckscher-Ohlin theory. Optimal intervention methods by governments to rectify a distorted domestic market are studied and nominal and actual protection rates and the intra-industry trade theory are also touched upon.

International Balance of Payments
Analyzes factors influencing international balance of payments and studies its control and policies.

Economic Development Theory
This course deals with the theories and policy issues of economic development. It examines the significance of economic development, goals and theories of economic development, development strategies and policy tasks. It also includes economic development-related tasks such as poverty, population, urbanization, rural communities and agriculture, trade and capital introduction, and development plans.

International Financial Market Analysis
This course looks at the composition of the international balance of payments and analyzes how a balanced exchange rate is determined in the exchange market. The processes of determining exchange rates under different exchange systems are compared and analyzed. Forward exchanges to hedge the exchange risk and currency futures and options, advanced forms of forward exchanges, are also considered. Determining of equilibrium income and effects of devaluation under an open economy are analyzed as well as the international financial market and international currency system.

Commerce Policy & Negotiation
This course analyzes the status and causes of trade disputes among nations and studies trade negotiation policies, negotiation processes, negotiation results, negotiation impact, etc. to resolve disputes.

Applied Game Theory
The first part, Business Strategy, includes modules on industry analysis, sustained competitive advantage, resources and capabilities, implementation, and strategic flexibility. The second section on Corporate Strategy includes modules covering value creation, core competencies, multinational management, and corporate renewal.

International Financial and Fiscal Law
It covers selected domestic and international aspects of (i)corporate law relating to finance, (ii)bank financing and regulation, (iii)securities financing and market regulation and (iv)insolvency law.

Topics in International Economic Law
This course will pay particular attention to how this legal system manages the relationship between trade and other regulatory areas or social values, such as environmental protection, health and other product standards, human rights, intellectual property protection and other facets of globalization.

History of International Economic Development
The development of the international economy is considered from the perspective of the establishment and development of global capitalism. International theories that explain the development of global capitalism and the development of international economy are examined over three steps.

International Economic Policy
The International Trade Theory course should be completed to take this course. The effects that trade policy tools such as tariffs and quotas have on the economy are studied as well as political-economic negotiation strategies necessary for implementing trade policy and strategic trade policy related to economic development, industrial development, external debts, etc.

Analysis of International Economic Status
Students are to understand and analyze the current economic trends of international society to forecast the international economic trends of the future.

International Investment Policy
This course concentrates on practical analysis of general theories related to overseas investment, differences between American- & Japanese-type overseas investment, and multinational corporate activities.

International Political Economy
The development of the international economy is dealt with from a political-economic perspective. The development and tasks of the international economy are considered from the perspective of interaction between the economy and politics. International production trade, international trade and investment, international immigrants, environment protection and other main areas of the international economy are handled from a political economic perspective.

Topics in the Economy of North America
This course mainly deals with the U.S. economy and analyzes it from economic and historic perspectives. For instance, it analyzes imbalanced income distribution and reductions as well as recent rapid increases in productivity in the U.S. and looks into the causes of the Great Depression from a historic perspective.

Chinese & Japanese Economy
This course is largely divided into two segments: first, it compares the development structure of the Japanese economy with that of the Korean economy, and secondly, it analyzes the characteristics of the developmental structure of the Chinese economy with focus on its supplementary relations with the Korean economy.

Regional Economy Analysis
This course performs theoretical and practical analysis of how Korea should respond to intensifying globalization and regionalization. The first part is dedicated to theoretical analysis and the second part is implemented in a seminar format that concentrates on practical studies of regional economies such as those of East Asia, South Asia, the Middle East, Africa, the EU, and North and South Americas.

International Investment Law
This examines the laws, policies, and legal institutions affecting cross-border investments in principal host countries, with special emphasis on emerging markets and the developing world. After an introduction to the nature of international investment and multinational investors, this course will study the international legal framework for international investment, with particular emphasis on the emerging treaty law.

IB Practice
Trade contracts, the basic form of international contracts, are considered, and the structure and principles of major international transactions are examined such as agency contracts, technology transfer contracts, and joint investment agreements.

Korea and World Economy
This course looks at the development process of the Korean economy under each regime and analytically discusses the characteristics and tasks of each era's development structure.

Seminar in International Trade Environment
This course looks at international organizations established to foster the growth of global trade and compares and studies each country's export and import organizations, promotion policies, industry policies, employment policies, technology promotion policies, etc.

Economy and Trade of Southeast Asian Countries
This course sums up the economic status and trade structure of major Southeastern countries and analyzes Korea’s trade structure toward these countries. It also selects major economic and trade tasks faced by these countries and explores solutions for them.

European Economics
Discusses the background to European market integration and related theories, its progress and prospects, establishment of the EBRD, and the incorporation of Eastern and Central Europe into the EC. Focuses particularly on the marketing strategies of Korean companies in response to European market integration.

Middle East Economy Study
This course looks at the economic cooperation organizations of the Middle East, characteristics of the Middle Eastern economy, and economic trends and future prospects of Africa.

Trade Policy Analysis
This course systematically discusses the essence and activity status of general trading companies, Korea's representative external distribution organization, and analyzes ways suggested to nurture their efficient activities from the perspective of the Korean economy.

BRICs Economy Study
This course deals with the economies of Brazil, Russia, India and China that are emerging as new global economic powers. Also examined are the process and strategy of economic development of these countries, their economic cooperation relations with Korea, and strategies of Korean companies to advance into these countries.

International Organizations
The theory and practice of international organizations is a dynamic and increasingly important dimension. This course provides an introduction to the field, focusing on the interaction between international law and politics in international organizations.