| Course Objectives: |
The aim of the course is to teach the students basic approaches about international economic theories, the relationship between trade and economic growth-wealth, and to provide them with the fundamental information about international trade and international trade policy. |
| Course Content: |
The course covers the below topics related to fundamentals of international economics: the scope and basic interest areas of international economics, the importance of international trade theory, theories aiming at explaining international trade, relationship between terms of trade, and international trade, economic growth and development, new models for explaining international trade, international trade policies, world trade liberalization and international factor mobility, international monetary systems and major economic/financial crises. |
| Week |
Subject |
Related Preparation |
| 1) |
Introduction to Course: Importance of International Economics, Purpose of International Economic Theories and Policies |
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| 2) |
The Theory of Absolute and Comparative Advantage, The Standard Theory of International Trade |
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| 3) |
Offer Curves, Demand and Supply, Terms of Trade |
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| 4) |
Factor Endowments and the Heckscher – Ohlin (H-O) Theory, Factor Price Equalization Theorem |
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| 5) |
New Foreign Trade Theories |
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| 6) |
Scale Economies, Monopolistic Competition and Foreign Trade, Synthesis of Trade Theories |
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| 7) |
Transportation Costs and International Trade, Environmental Standards, and international Trade |
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| 8) |
Economic Growth and International Trade, Interaction Between Economic Growth and Foreign Trade. A Special Case: Immiserising Growth. |
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| 9) |
Comparative Advantages and Economic Development (The Effects of Economic Development on Foreign Trade: Static Analysis). |
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| 10) |
Economic Development and Foreign Trade Relation: Dynamic Analysis. Introduction to International Trade Policy |
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| 11) |
International Resource Movements and Multinational Corporations |
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| 12) |
Balance of Payments, Foreign Exchange Markets and Exchange Rates, Exchange Rate Determination |
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| 13) |
European Union, Latin America, BRICS and East Asian Countries |
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| 14) |
Final Exam |
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Program Outcomes |
Level of Contribution |
| 1) |
Has a broad and interdisciplinary perspective on international business and trade by the use of social sciences and mathematics, |
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| 2) |
Possess the knowledge and skills related to different functions and interactions of international business and trade. |
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| 3) |
Possess the knowledge and skills to interpret the data, concepts and ideas in the field of international business and trade with scientific and technological methods. |
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| 4) |
Use different theoretical approaches to understanding and solving various business and trade problems. |
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| 5) |
Explains the competitiveness of the countries with the requirements of international competition and interprets the functioning of the actors and regulatory structures in the international environment. |
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| 6) |
Understands the value of developing new trade projects and generating strategies within international market needs. |
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| 7) |
Solves complex business and global trade problems by using various statistical techniques and numerical methods and makes analyzes by using statistical programs effectively. |
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| 8) |
Uses a foreign language at the B1 General Level in terms of European Language Portfolio criteria according to the level of education. |
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| 9) |
Develops teamwork, negotiation, leadership and entrepreneurship skills. |
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| 10) |
Possess the knowledge of universal ethical values, social responsibility and sufficient legal and regulatory knowledge. |
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| 11) |
Develops positive attitudes related to lifelong learning and identifies individual learning needs and carries out studies to correct them. |
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| 12) |
Students will be able to communicate their ideas and solutions both written and orally, and present and publish them on both national and international platforms. |
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| 13) |
Uses information and communication technologies together with computer software at the advanced level of European Computer Using License required by the field. |
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