KOREA University International Summer Campus:

INTERNATIONAL ORGANIZATION (ISC 335)

James Raymond Vreeland (Georgetown University)

What to expect

• What does Global KU Frontier Spirit mean to you?

• Excellence (KU ~ Korea’s Ivy League)

• Respect (for other cultures, for each other)

• Culture of excellence

• High standards– On time, attendance, do the reading, no

plagiarism/cheating

• GLOBAL TECHNOLOGY!! (World-Wide-Web)– BRING YOUR LAPTOPS!!!!!

Requirements

• Participation

• Exams

• What’s the point?

– Analytical tool time!

The generic problem of time-inconsistent preferences:

Individual’s preferences over time:

• Time 1: U(A)>U(B)

• Time 2: U(B)>U(A)

• Anticipating the change in preferences, can the individual commit @ Time 1 to choosing State A @ Time 2?

Examples:

• Classic: Ulysses & the Sirens

• Time 1=Before listening to the Sirens.

• Time 2=While listening to the Sirens.

• State A=Sailing home…

• State B=Belly of the beast…

• Principal=student.

• Delegates to agent=professor.

• Time 1: Beginning of the semester.

• Time 2: Any Thursday night.

• State A: State of knowledge.

• State B: State of…

Education:

Marriage:• Not needed if there is “true love” or “happily ever after.”

• Needed because we anticipate the possibility of “Time 2.”

• Time 2: U(B)>U(A)

• State A=Together

• State B=Sirens, etc…

• “Richer,” “health,” & “better” added for symmetry.

• “Poorer,” “sicker,” “worse” are the kickers.

Exams

• Designed to help you to do your work

• Incentives!!!

• Will be straightforward

• E.g.,– What is the purpose of the exam?– Answer?

Syllabus & course materials

• http://korea.academia.edu/JamesVreeland

Take home point

• Analytical tool: – Time inconsistent preference problem– A.K.A. (also known as):

• Commitment problem• Present bias