1. KOREA University International Summer Campus: INTERNATIONAL ORGANIZATION (ISC 335) James Raymond Vreeland (Georgetown University)

2. 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!!!!!

3. Requirements Participation Exams What’s the point? –Analytical tool time!

4. 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?

5. 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…

6. 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:

7. 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.

8. Exams Designed to help you to do your work Incentives!!! Will be straightforward E.g., –What is the purpose of the exam? –Answer?

9. Syllabus & course materials http://korea.academia.edu/JamesVreeland

10. Take home point Analytical tool: –Time inconsistent preference problem –A.K.A. (also known as): Commitment problem Present bias