FACULTY OF BUSINESS

Department of Economics

ECON 305 | Course Introduction and Application Information

Course Name
International Economics I
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 305
Fall
3
0
3
6

Prerequisites
  ECON 101 To succeed (To get a grade of at least DD)
and ECON 102 To succeed (To get a grade of at least DD)
Course Language
English
Course Type
Required
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator -
Course Lecturer(s)
Assistant(s)
Course Objectives The models studied will provide students with the analytical tools that will allow them not only to understand the underlying basis for trade but also to critically evaluate observed trade policies.
Learning Outcomes The students who succeeded in this course;
  • They will be able to discuss how alternative trade theories (Ricardo and HOS model) explain free trade.
  • Students will be able to compare the above theories with more recent theories in terms of efficiency analysis
  • They will be able to analyze the advantages and disadvantages of different trade policies (tariffs, subsidies etc.)
  • They will be able to examine the globalization of production and its impact on trade.
  • They will be able to assess the recent developments in trade relations of different countries by using empirical data.
Course Description Foreign trade theories and policies will be covered in this course. In this framework, Classical and NeoClassical trade theories, HeckscherOhlin model, trade policies, protectionism, and political economy of trade will be explored. Additionally, emphasis will be put on the effects of tariffs, nontariff barriers and quotas. Lastly, economic integration and foreign trade in developing countries will be analyzed in this course.

 



Course Category

Core Courses
X
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction to International Economics Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 1
2 Early Trade Theories Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 2
3 The Classical Theory of Trade and Its Extensions Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Chs. 34
4 Neoclassical trade theory Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Chs. 56
5 Offer curves and international terms of trade Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 7
6 HeckscherOhlin trade theory Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Chs. 89
7 Midterm
8 Economic Growth and International Trade Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 11
9 International Factor Movements Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 12
10 Transnational Corporations and Trade Theory Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 13
11 Review of the Semester  
12 Trade Policy – Instruments and Impacti Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 14
13 Economic Integration Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 17
14 International Trade and the Developing Countries Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 18
15 International Trade and the Developing Countries (continues) Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill Ch. 18
16 REVIEW

 

Course Notes/Textbooks Dennis R. Appleyard, Alfred J. Field, JR, and Steven L. Cobb, International Economics, Fifth Edition, McGrawHill
Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
1
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
Project
1
20
Seminar / Workshop
Oral Exams
Midterm
1
35
Final Exam
1
35
Total

Weighting of Semester Activities on the Final Grade
1
65
Weighting of End-of-Semester Activities on the Final Grade
3
35
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
2
32
Study Hours Out of Class
0
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
0
Presentation / Jury
0
Project
1
20
20
Seminar / Workshop
0
Oral Exam
0
Midterms
1
40
40
Final Exam
1
40
40
    Total
180

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

X
2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

X
3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

X
4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

X
7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

X
8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

9

To be able to take the responsibility as an individual and as a team member.

10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

X
11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

X
12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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