COLLEGE OF MICRONESIA-FSM
National
Campus
Palikir,
Pohnpei
SS212
Economy of Micronesia
Spring
2002
___________________________________________________________________________
Office Location: Social Science Office in
the Faculty Building
Office Hour: MWF: 10:00 – 11: 00 & 2:00 - 3:00 or
by appointment
TuTh: 12:00 – 1:00 pm or by appointment
Office Phone: 320-2480/2481/2482,
Extension 4510
E-Mail Address: johnh@comfsm.fm
Classroom:
Building B, Room 101
Class Days & Hour: TuTh; 9:30 – 10: 55 a.m.
__________________________________________________________________________
DESCRIPTION: This course will focus
on the economy of the Federated States of Micronesia and other political
entities in the Micronesian region. It will address the composition of the
economy; the role of the government and the private sector in the economy; the
wastage and leakage in the economy.
Additionally, this course
will also focus on such resources as land, fisheries, agriculture, and of course
the people.
INSTRUCTION: The primary mode of
instruction in this class is lecture, but movies will be shown and overhead
projector presentation will also be utilized to amplify the main topics under
discussion. The last ten minutes of each class is reserved for question and
answer. I should, however, encourage you to stop me during lecture if you need
clarification or you want to ask questions.
OBJECTIVES: The objectives of this course are (1) To
teach the about economic realities in the Federated States of Micronesia and
other Micronesian entities; (2) To make the students understand the role of
government in the economy; (3) To make the students aware of the resources
available in the FSM and development possibilities; (4) To make you aware of wastage
and leakage in the economy.
WEEKLY TOPICS AND READING ASSIGNMENTS
Week One: Topics: (1) Introduction and Overview
(2)
What is national economy?
Reading:
(a) Chapters One & Two, Survey of Economic
Week Two: Topics: (1) History of Economic development
in Micronesia
(a) Prior to 1914
(b) 1914 - 1945
Week Three: Topics: (1) Economic development during the
Trusteeship
(2)
Economic development during Compact Period
Week Four: Topics: (1) Government Roles & Monopoly
Reading:
(a) Handout
(b) Chapter
8, Survey of Economic
Week Five Topics: (1) Public Sector
Reading:
(a) Chapter 16, Survey of Economic
Week Six Topics: (1) Private Sector
Reading:
(a) Handout
Week Seven Topics: (1) International Trade & Finance
Reading:
(a) Chapters 21, Survey of Economic
Weeks Eight & Nine
Topics: (1) Money, Banking,
and Monetary Policy
Reading:
(a) Chapter 18, Survey of Economic
Weeks Ten & Eleven Topics: Unemployment
Reading: (a) Chapters 12, Survey of
Economic
Weeks Twelve &
Thirteen Topics: (1) Wastage and Leakage
Reading:
(a) Handout
Week Fourteen Topics: (1)
The Subsistence Economy
Reading: Bank of Hawaii Report
(b) Class handout
Weeks Fifteen &
Sixteen Topics: (1) The Future Outlook
TEXTBOOKS: There are several copied materials for this
course in the COM-FSM Bookstore that you should purchase. Ask the bookstore
manager for assistance.
EVALUATION: There will be four (4) short papers (five
to eight) pages. There is no mid – term and final examinations for this course.
Grade will be based on the COM-FSM grading system. Each student is responsible
to complete his/her papers and hand them in to me on time.
Letter grades will be
assigned based on the following scales:
A+ =
95 –- 100
A =
90 -- 94
B+ =
85 -- 89
B =
80 -- 84
C+ =
75 -- 79
C =
70 -- 74
D =
65 -- 69
F = 64
& Below
Your course grade will be
assigned based on the following:
5% ………………. Participation in class.
95% …………….. 4 papers
REGULATIONS: You are required to
strictly observe the rule against eating and drinking in the classroom. In
addition, you are prohibited from chewing betel nut in areas outside of the
cultural huts.
ABSENTEEISM, TARDINESS, CONVERSATION DURING CLASS:
Five absences will get you a withdrawal from this class. The last day to
withdrawal from this class with a “W “ showing on your transcript is October
26, 2001. If you reach five absences after October 26th, you will automatically
be withdrawn with a grade of “F.” I must alert you to the fact that the total
missed classes (absences) include UNEXCUSED AND EXCUSED ABSENCES, SUCH AS
SICKNESS, FUNERALS, AND ANY OTHERS.
You are required to come
to class on time on every class day. If you are late THREE times, I will count
it as ONE ABSENCE. In addition, I will not tolerate any conversation during
class session. Thus, if you persistently carried on conversation during
two-class days I will count it as ONE ABSENCE.