Theory and Practices of Economic Integration: Shpark@korea - Ac.kr

Professor Sung-Hoon Park Fall 2019
Room # 535, International Studies Hall

Graduate School of International Studies
Korea University
Tel: 3290-2405, Fax: 929-0402
E-mail: shpark@korea.ac.kr,
Theory and Practices of Economic Integration

Fridays, 09:00-12:00
I. Course Outline
 This course is designed to provide students with a basic theory of regional economic
integration and a thorough understanding of practical issues related to regionalism and
multilateralism.
 A main focus of the course will be given on the economic cost-benefit analysis of regional
economic integration, multilateral rules governing regionalism and multilateralism, as well
as case studies of major regional integration arrangements in the world economy.
 Also, conceptual and practical analysis of Korea’s strategy towards regionalism and
multilateralism will constitute an integral part of the course.
 Whenever desirable and possible, academics and policy makers working on the related
topics of the course will be invited to give special lectures.
II. Requirements
 Students are expected to be present regularly at the class, make one (individual or group)
presentation through the semester, and do occasional homework.
 The week allocation of students’ presentations will be depending on the topics selected by
students, and be discussed in the first week of the semester.
 To stimulate discussions in the classroom, it is required that the material for the
presentation be submitted, at the latest, by Wednesday of the presentation week.
 Students have to submit one (academic) term paper by the end of the semester. The topic of
the term paper can in principle be freely chosen among the topics of the course. It’s also
allowed to select a topic, on which the students have presented in the class.
 Term papers to be submitted will normally be of around 5,000 words, and the authors have
to make an extensive use of footnotes. Papers should contain “References”.

III. Evaluation
 Presentation and Term Papers: 30%

 Course Attendance and Participation in Discussion: 20%
 Homework: 10%
 Examinations: 40%
IV. References
<Textbook>
 Robson, Peter, “The Economics of International Integration”, Third Edition, Routledge,
London and New York 1993.
 Frankel, Jeffrey A. et al., “Regional Trading Blocs in the World Economic System”,
Institute for International Economics, Washington, D.C. 1997.
* BLACKBOARD will be extensively used as a communication channel between professor and

participants and among the participants. Course assignments and reading materials for relevant
sessions will be posted there in due course.
IV. Topics for the Course
Week 1 (1) Introduction to the Course and Assignment of Term Papers

(2) RTAs, Mega RTAs and Inter-regional FTAs in the World Economy:
An Evaluation
PART I: Basic Theory and Legal Aspects of Economic Integration
Week 2 Regionalism and Multilateralism in the World Economy: History, Relationship and
Future Prospects (Reading Material)
Week 3 Theory of Free Trade Areas (Read Robson)
Week 4 Theory of Customs Unions and Common Markets (Read Robson)
Week 5 Trade and Investment in the World Economic Integration Process: Multinational
Corporations and FDI (UNCTAD and WTO Publications)
Week 6 GATT/WTO Rules Governing Regional Integration Arrangements (RIAs): An

Economic and Legal Analysis of GATT Article XXIV (GATT/WTO Legal Texts
and Additional reading Materials provided by Professor)
Part II: Case Analysis of Major Regionalism in the World Economy
Week 7 Economic Integration in Europe:

(1) European Integration I: Historical Overview
(2) European Integration II: Euro and the World Economy
Week 8 Mid-term Examination
Week 9 Economic Integration in North America:

(1) Rationale and Negotiation Process of NAFTA
(2) Economic and Political Aspects of NAFTA
(3) Renegotiation on NAFTA and USMCA
Week 10 Economic Integration in Latin America: The Current Status and Future Prospects of
MERCOSUR and Other Regional Arrangements
Week 11 Economic Integration in Asia I: The Current Status of Trade and Investment
Integration in East Asia
Week 12 Economic Integration in Asia II: Analysis of Emerging East Asian (Sub)Regionalism
PART III: Regionalism Strategy of Major Players
Week 13 Regionalism Strategy of the United States and the European Union: Past, Present and
Future
(1) The United States
(2) The European Union
Week 14 Regionalism Strategy of China and Japan

(1) China
(2) Japan
Week 15 Regionalism Strategy of Korea

(1) Regionalism and Multilateralism for Korea
(2) FTA Roadmap and Current State of FTA Policy
Week 16 Final Examination
** Students may select Mega-RTAs, such as TPP, CPTPP, RCEP, TTIP and CJK FTA as
their topic of Presentation, as well.

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Professor Sung-Hoon Park Fall 2019

Room # 535, International Studies Hall

Theory and Practices of Economic Integration

 Presentation and Term Papers: 30%

* BLACKBOARD will be extensively used as a communication channel between professor and

IV. Topics for the Course

Week 1 (1) Introduction to the Course and Assignment of Term Papers

PART I: Basic Theory and Legal Aspects of Economic Integration

Week 3 Theory of Free Trade Areas (Read Robson)

Week 4 Theory of Customs Unions and Common Markets (Read Robson)

Week 6 GATT/WTO Rules Governing Regional Integration Arrangements (RIAs): An

Part II: Case Analysis of Major Regionalism in the World Economy

Week 7 Economic Integration in Europe:

Week 8 Mid-term Examination

Week 9 Economic Integration in North America:

PART III: Regionalism Strategy of Major Players

Week 14 Regionalism Strategy of China and Japan

Week 15 Regionalism Strategy of Korea

Week 16 Final Examination

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