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Program Type: 
Non Thesis
Course Code: 
ECON 522
Course Type: 
Elective
P: 
3
Lab: 
0
Credits: 
3
ECTS: 
10
Course Language: 
English
Course Objectives: 

In the face of recent developments in the world economy, international economics remains as important and controversial as ever. As world events and ideas progressed over the years, modes of analysis in international economics had to evolve to accommodate these new developments. This course will be studied in a way that links theories and models to events in the world economy and facilitates its assimilation by students.

Course Content: 

This course covers new theories of foreign trade based on increasing returns and market structure as well as on classical comparative advantage, increasing regional integration activities, intertemporal analysis of international capital flows, commercial policy, exchange rates and exchange rate systems in open economy.

Teaching Methods: 
1: Lecture, 2: Question-Answer, 3: Discussion, 12: Case Study
Assessment Methods: 
A: Testing, B: Experiment, C: Homework, Q: Quiz

Vertical Tabs

Course Learning Outcomes

  1. Learning major international trade theories.
  2. Exploring international trade policies.
  3. Analyzing exchange rates and exchange rate systems.
  4. Mastering open economy macroeconomics.
  5. Studying the international monetary system and optimum currency areas.
  6. Evaluating the performance of global capital markets and policy problems

Course Flow

COURSE CONTENT
Week Topics Study Materials
1 Labor productivity and comparative advantage Ch. 2

 
2 Factor proportions and income distribution, Hecksher-Ohlin Model Ch. 3, 4
3 The standard trade model Ch. 2

Ch. 5 & articles
4 Economies of scale, imperfect competition, and international trade Ch. 6 & articles
5 International factor movements and foreign direct investment Ch. 7 & articles
6 The political economy of trade policy Chs. 8, 9 & articles
7 Trade policy in developing Chs. 10, 11 & articles
8 National Income Accounting and the balance of payments Ch. 12 & articles
9 Exchange rates and the foreign exchange market Ch. 13 & articles
10 Money, interest rates, and exchange rates Ch. 14 & articles
11 Price levels and the exchange rate in the short and long run Chs. 15, 16 & articles
12 Fixed exchange rates and foreign exchange intervention Ch. 17 & articles
13 The international monetary system Ch. 18 & articles
14 Optimum currency areas Ch. 20 & articles
15 Developing countries: Growth, crisis and reform Ch. 22 & articles

Recommended Sources

RECOMMENDED SOURCES
Textbook P. R. Krugman and M. Obstfeld, International Economics: Theory and Policy, Addison Wesley.
Additional Resources An average of 3 articles for each topic and reading from current media for discussions.

Material Sharing

MATERIAL SHARING
Documents  
Assignments Every week a new assigment is prepeared by teacher and given to students
Exams A term paper

Assessment

ASSESSMENT
IN-TERM STUDIES NUMBER PERCENTAGE
Mid-terms 1 60
Quizzes (attendance, presentation, etc.)    
Assignments 1 40
  Total 100
Contribution of Final Examination to Overall Grade   35
Contribution of In-Term Studies to Overall Grade   65
  Total 100

Course’s Contribution to Program

COURSE'S CONTRIBUTION TO PROGRAM
No Program Learning Outcomes Contribution
    1 2 3 4 5
1 Demonstrate in-depth competency in the theory and application of the core areas of economics, including microeconomics, macroeconomics, and econometrics.       X  
2 Demonstrate advanced understanding of fields’ economics.         X
3 Apply rigorous and advanced quantitative analysis in their research.       X  
4 To be acquainted with pioneering and innovative theories and methods in economics, to be able to use them in analysis and research and to be able to contribute to becoming an information society.       X  
5 To be able to critically analyze, synthesize and evaluate new and complex ideas.         X
6 To develop new ideas and methods by using high level mental processes like creative and critical thinking, problem solving, decision making.         X
7 To be able to find creative solutions for social, scientific and ethical problems in the context of the science and profession of economics and to be able to disseminate the values which support these solutions.         X
8 To be able to absorb new knowledge in economics systematically and to acquire high level skills in research methods in economics.         X
9 To be able to be part of academic networks to share his/her work and to criticize works of others.         X

ECTS

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COURSE DESCRIPTION
Activities Quantity Duration (Hour) Total Workload (Hour)
Course Duration (Including the Exam Week: 15 x total course hours) 15 3 45
Hours for off-the-classroom study (Pre-study, practice) 15 10 150
Mid-terms 1 10 10
Quizzes (attendance, presentation, etc.) 3 3 9
Assignments 2 7 14
Final Examination 1 10 10
Total Work Load     238
Total Work Load / 25 (s)     9.52
ECTS Credit of the Course     10
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