Semester I : AY 2010
Economics of National Security Strategy
Introduction
The fall semester economics course is designed to provide you with the tools and perspectives necessary to
analyze and develop economic strategy in the globally interdependent world economy. After our opening
phase where the basic tools and logic of the market system are introduced, the course examines and analyzes
domestic and international economic issues and policies. The domestic policy phase includes growth and
technology policies, fiscal and monetary policies, and examines budgetary issues and challenges. The international
phase considers trade and finance concepts and policies in an interdependent world and examines economic
aspects of centers of power in the global economy, including China, India and Russia. Sessions dealing
with key linkages in the global economy focus on policies concerning economic development and nation-building
and on the economic dimensions of statecraft. Included in the course is a strategic, interactive, policy-oriented
International Macroeconomics Exercise, aimed at enabling students to conduct analysis and assessment of
alternative policy options and to trace their impact in an interdependent world; this exercise is based on the
Oxford Economic Forecasting Global Macroeconomic Model.
Course Objective
At the end of this course students will be able to:
- Comprehend the nature and strategic implications of economic decision-making.
- Analyze the relative effectiveness of the tools of economic policy and their impacts on the national economy.
- Analyze the political, economic and institutional framework of economic policy.
- Analyze the interrelationships between economic strategy and resource allocation within the United States (U.S.) defense sector and linkages to other budgetary areas
- Synthesize domestic and international economic policy into national economic strategy.
- Analyze the nature of information age technologies, productivity and investment and their relationship to national economic power.
- Evaluate the global economic environment and marketplace in the post 9/11 period and design appropriate government policy to enhance national security strategy.
- Examine and analyze the implications of economic choices and policies for U.S. strategy and for international security.
Student Assessment
Students will be assessed on (1) their understanding of the material presented, (2) their ability to integrate the concepts and principles learned,
and (3) their ability to formulate alternative solutions to strategic challenges. The evaluation will be based on:
- Classroom performance -- (40%) -- Contribution to seminar discussion.
- Performance in the International Macroeconomics Exercises. -- (10%)
- Writing assignment -- (50%) -- Written essay on an assigned topic.
Course Materials
TEXTS:
- SYLLABUS, Fall 2009 (STUDENT ISSUE)
- R. Glenn Hubbard and Anthony Patrick O’Brien, Economics, Pearson 2nd Edition, 2008. (LIBRARY ISSUE)
- Required Readings (ANTHOLOGY)
- Various Web References
- (SEPARATE ISSUE): International Macro Economic Excercise Materials
Accreditation Policy:
The course
has been developed with consideration of the accreditation standards
outlined by the Chairman of the Joint Chiefs of Staff Instruction
1800.1, “Officer Military Education Policy (OPMEP).”
The specific learning areas (LA’s) are shown after each lesson
objective in the syllabus pages.
8/5/2009
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