INTRODUCTION Penn State's commitment to study abroad is based on the conviction that learning expands in proportion to our experience of the world around us. The Penn State Manchester Economics Program, initiated in the Spring of 1990, is one of a number of programs conducted by Penn State in Europe, the Middle East, Africa, Australia, New Zealand, Latin America, and Asia. More than 600 students from a wide variety of majors participate annually in these programs OBJECTIVES The Penn State Manchester Economics Program fulfills the general objectives articulated by Penn State for all its study abroad programs. It seeks to: -- enable students to receive instruction in several disciplines within the context of another culture, and to enrich their general academic studies. -- provide adequate professional training when a study abroad experience is especially desirable, and to add to the intellectual and professional development of students in specialized fields of study; -- enable students to expand their knowledge of the culture of a country or region of the world by living and studying abroad, as well as gain a more objective perspective of the values and way of life in their own country; -- promote the university's educational goals by providing opportunities for students to participate in a program designed to increase international understanding; In addition, the Manchester Economics Program has the following specific objectives to: -- provide students with a thorough understanding of the modern British economy; -- provide students with an understanding of the historical and political contexts within which the modern British economy functions; -- provide students with in-situ opportunities to observe modern British economic institutions and agencies in actual operation. WHY STUDY IN MANCHESTER In 1868, William Stanley Jevons, the Manchester Economist, could write that "... It is England that should have suggested free trade in money to the world; it is Manchester that should have suggested it to England." (In a lecture to the Manchester Statistical Society, 13 May 1868). Manchester saw key developments in the free trade movement and women's suffrage. It was at the center of canal and railway development and parallel developments in banking and finance. Many of the artifacts from these movements are located in the area and present opportunities for field visits and work to supplement lectures and reading on the period. Over the 120 years since Jevons wrote his commentary on the nineteenth century importance of the city, many developments have taken place that make Manchester interesting to the student of economics and politics. It is a center that has seen and come to terms with the decline of many of its industries. it is in the process of major restructuring with many exciting developments taking place backed up by heavy investment in new machinery and much improved productivity. Manchester has become the Northern center not only for many multi- national corporations but also the finance, media, and public relations industries. Manchester's 'half square mile' is easily the country's second financial center. As the Financial Times commented "anyone wanting to deal might as well be in Manchester 1 as London EC 4." The growth in theatre and the arts and the opening of the much-praised G-Mex Exhibition Centre (converted from an old railway station) show that Manchester, by building on its past, is making sure that it's preeminence in the twenty-first century. PROGRAM DESCRIPTION The program is a fifteen-week, spring semester program with five three- credit courses that are integrated around a single basic theme--i.e., the operation of the modern British economy. In addition to thirteen weeks of formal classroom instruction, the program will include a field trip to London, where students will visit such institutions as the Bank of England, the London International Financial Futures Exchange, the London Stock Exchange, and the House of Commons, and a one-week "attachment" during which students will be assigned full-time to a particular financial institution, manufacturing company, or trade union. Students will be expected to do a considerable amount of reading and preparation on their own time. While the course were developed specifically to meet the academic and accreditation needs of Penn State's departments, it is an autonomous program of Manchester's Department of Extra-Mural Studies and will be open to students from a wide range of American institutions. ECONOMIC MODULE - ECON 499 Introduction to the UK Economy -- an Initial Orientation & Organized Capital Historical perspective to current problems in applied economics. The European dimension: Customs Union or United States of Europe, The European Monetary System. Role of the Government in the UK Economy, Economic policy towards employment and inflation. The 'New Cambridge,' 'Monetarist' and 'Thatcherite' alternatives to conventional demand management, deficit finance and UK experience with macroeconomic policies since 1970. Analytical and empirical study of industrial and market structure in Britain, Capital investment, corporate growth by diversification and merger. Other topics covered are: trends in manufacturing and 'post- industrial age' concepts, from family firms to multinationals: the evolution of British Business. And the regulations of business: the Monopolies Commission and restrictive practices court. Suggested Reading: Devine P.J., Lee N., Jones R.M., Tyson W. J. An Introduction to Industrial Economics, 1979. Hannah L. The Rise of the Corporate Economy, 1976. ORGANIZED LABOR - ECON 496 The work behavior of managers and workers and theories of organization. History and current role of trade unions with special reference to strikes and disputes. The rise of multi-nationals and their implications for labor organizations. The role of the state in the regulation of trade unions. Suggested Reading: Beynan H. Working for Ford, 1975. Tugendhat, C. The Multinationals. 1974 ORGANIZED FRANCE - ECON 499 Banking and finance in the UK - a blend of monetary theory and institutional behavior. Current problems of regulating financial markets. Contrasts between central and commercial banking in the UK with the United States. Financial integration in Europe. Suggested Reading: Artis M.J., Lewis M. Monetary Control in the UK. BRITISH POLITICS MODULE - PL SC 499 UK CENTRAL GOVERNMENT The UK Electoral system. Recent changes in the constitution and the changing party system. The absence of a written constitution and Bill of Rights. The defense of the citizen and the redress of grievances. The role of the Prime Minister and the Monarchy. Roles of the House of Commons and the House of Lords. Problems of the bicameral structure. UK LOCAL GOVERNMENT Structure of political democracy at the local level and relationship to central government. Rights of local government to raise funds and central government attempts to control this in the interests of its overall policy strategies. THE EUROPEAN CONTEXT Political co-operation and conflict in Europe. Accession of the UK to the Treaty of Rome. The E.E.C. - customs union or forerunner of a politically integrated Europe? Federalism in Europe. It is hoped that during the field trip to London a visit to the House of Commons can be arranged where members of the course will be addressed by two or three MPs. BRITISH ECONOMICS AND SOCIAL HISTORY MODULE: HIST 399 The economic history of the United Kingdom with particular reference to the North West 1780-1950. This course includes visits to some of the many important industrial archaeological sites in the North West e.g., the Castlefield area of the City, Coalbrookdale, the Potteries. TRADE AND TRANSPORT Railways, roads, and canals. Economic significance of the canals in general and the Rochdale Canal in particular and the Liverpool to Manchester Railway. The Manchester Ship Canal. AGRICULTURE Population growth and the feeding of people. The repeal of the Corn Laws. The Free Trade Movement with specific reference to the involvement of Manchester. INDUSTRY The industrial development of the North West. The rise and fall of the textile industry. The nature and impact of technological change in industry throughout the period. LIFE AND LABOR The Poor Law and Apprenticeship. Impact of industrialization on life and living standards. Employment of women and children. Role of the State in regulating conditions of labor and the provision of relief. BANKING AND FINANCE Structure of finance and payments during the period. The Bank Charter Act 1844, Bullion and Currency School controversies. GRADING As with any course at Penn State, responsibility for assessing the students' academic achievement rests with the course instructors. ACCREDITATION Students are scheduled for the following courses: ECON 499 Introduction to the UK Economy - An Initial Orientation and organized Capital 3 credits ECON 496 Organized Labor 3 credits ECON 499 Organized Finance 3 credits PLSC 499 British Politics 3 credits HIST 399 British Economics and Social History 3 credits LIVING ARRANGEMENTS Students are housed in either apartments or family/homestay accommodations depending on availability. Students are responsible for the costs of their room and board and therefore do not pay room and board fees to Penn State. ELIGIBILITY While the Manchester Economics program is open to all regularly enrolled Penn State students and can accommodate students from any discipline, it has been primarily designed to meet the growing interest within Penn State's Economics Department in providing its undergraduate students with the opportunity to study abroad. Applicants must be in good academic standing and show evidence of maturity, stability, adaptability, self-discipline, and strong academic motivation.. Generally speaking, a 2.50 cumulative grade-point-average is the minimum academic standard for most programs. Participants are generally juniors at the time of commencing their study at the University of Manchester. PROGRAM PREREQUISITES Prior to departure, students must complete: 1. ECON 002, 004, or 014 and 2. QBA 201, STAT 200, or ECON 390 ORIENTATION A specially-designed orientation program, conducted during the semester prior to departure, is intended to prepare participants for the adjustment to living and studying in Great Britain. Attendance at all orientation sessions is mandatory. COSTS Tuition for the Manchester Economics program is the same as the University Park Campus and is payable at the Bursar's Office in accordance with the standard procedures and deadlines for regular charges at University Park. Students will be responsible for paying their room and board costs on-site. In addition, students pay a $150 nonrefundable program fee at the time of accepting an enrollment offer . Round-trip air transportation is an additional cost to the student. Students are responsible for making their own flight arrangements. Textbooks and personal expenses are extra. The Office of Education Abroad Programs has a cost-estimate-sheet detailing the overall expenses for each semester. FINANCIAL ASSISTANCE The standard forms of financial assistance are available through the Office of Student Aid. Since students remain registered at Penn State while abroad, financial aid packages continue during the period of time in which a student is enrolled in this program. The Office of Education Abroad Programs coordinates closely with the Office of Student Aid to help needy students obtain funds to cover the additional cost of study abroad. The Office of Education Abroad Programs also has a modest grant- in-aid fund that can be drawn upon for exceptionally needy and qualified students. HEALTH INSURANCE All participants are expected to carry sufficient health and accident insurance while studying in Manchester. Personal liability insurance is strongly recommended. PLANNING AHEAD To exploit the many advantages and opportunities of a study abroad experience, it is essential that students, in consultation with their academic advisers, plan well in advance. With careful planning every participant not only gains regular Penn State credit while maintaining normal progress toward graduation, but can often apply the credits earned abroad to General Education, elective, language, and/or to major or minor requirements. As part of the application process, students are required to check with their advisers or deans to discuss what impact study abroad may have on their progress toward graduation. For further information, contact your campus Education Abroad adviser or: Office of Education Abroad Programs The Pennsylvania State University 222 Boucke Building University Park, PA 16802-5900 Tel. (814) 865-7681 This publication is available in alternative media on request. The Pennsylvania State university is committed to the policy that all persons shall have equal access to programs, facilities, admission, and employment without regard to personal characteristics not related to ability, performance, or qualifications as determined by University policy or by state or federal authorities. The Pennsylvania State University does not discriminate against any person because of age, ancestry, color, disability, or handicap, national origin, race, religious creed, sex, sexual orientation, or veteran status. Direct all inquiries regarding the nondiscrimination policy to the Affirmative Action Director, The Pennsylvania State University, 201 Willard Building, University Park PA 16802-2801; tel. (814) 863-0471; TDD (814) 865-3175. The Pennsylvania State University encourages qualified persons with disabilities to participate in its programs and activities. If you anticipate needing any type of accommodation or have questions about the physical access provided, please contact the Employee Benefits Division at (814) 865-1473 in advance of your participation or visit. U.Ed. OIP 96-33 PS6055jdh 5/96