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| IKT3017 | International Economics-1 | 3+0+0 | ECTS:5 | | Year / Semester | Fall Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of ECONOMICS | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Prof. Dr. Kenan ÇELİK | | Co-Lecturer | | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | Objective of this course is to show how the world economy works, international economic relations on national economy and effect to their national economics. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | define general concepts about international economics | 1,3,5 | 1, | | LO - 2 : | explain general frame of international economic relations | 1,3,5 | 1, | | LO - 3 : | compare foreign trade theories and policies | 1,3,5 | 1, | | LO - 4 : | analyze effects of international economic relations on national economy and relations between foreign trade and economic growth | 1,3,5 | 1, | | LO - 5 : | connect relations among trade policies, trade theories and world economy | 1,3,5 | 1, | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), LO : Learning Outcome | | |
| Theory of comparative advantages, supply and demand models, factor endowment theory, foreign trade theory and economic growth analysis, foreign trade policy, custom tariff, non-tariff trade policy barriers, international trade agreements and counter-trade, liberation of world trade. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Emergence of International Trade Theory, Mercantilism, Classical Liberalism and A. Smith,
Analysis of International Trade Theory, Theory of Absolute Advantage, The Model of Comparative Advantage. | | | Week 2 | Opportunity Costs and Foreign Trade, Transformation Curves, Fixed Costs and Foreign Trade, Increasing Costs and Foreign Trade, Diminishing Costs and Foreign Trade,
| | | Week 3 | Models of Supply and Demand, Terms of Trade, Law of Reciprocal Demand, Offer Curves, Useful of Offer Curves, Shifts of Offer Curves
| | | Week 4 | Social Indifference Curves, Closed Economy Equilibrium, Open Economy Equilibrium, Benefits of International Trade.
| | | Week 5 | Theory of Factor Endowments, Heckscher-Ohlin Theory, Theorem of International Factor Prices Equalization, The Stolper-Samuelson Theorem, The Specifics Factors Model.
| | | Week 6 | Tests of Factor Endowments Theory, Leontief Paradox, Skilled Labor Theorem, Theorem of Technological Gap, Product Cycle Model, Theorem of Similarity in Preferences, Economies of Scale Theorem, The Monopolistic Competition Theorem, Intra-Industry Trade and Inter-Industry Trade, Measurement of Intra-Industry Trade, Transports Costs and Foreign Trade. | | | Week 7 | Analyses of Economic Growth and International Trade, Increases in Factor Supply and International Trade, The Rybczynski Theorem, Technological Development, Unbiased Technological Development, Labor-Saving Technological Progress, Capital-Saving Technological Progress, Immiserizing Growth, Terms of Trade and Less Developed Countries, Economic Development and Comparative Advantages
| | | Week 8 | Policies of Foreign Trade, Objectives of Foreign Trade Policy, Instruments of Foreign Trade Policy, Historical Foreign Trade Policies. | | | Week 9 | Midterm exam | | | Week 10 | Protectionism in Foreign Trade, Causes of Protectionism, National Security, Infant Industry Argument, Strategic Trade Policy, Protectionism against Damping, Improvement of Balance of Payment Deficits, Decreasing Unemployment, Improvement of Terms of Trade, Arguments Based on Personal Interest | | | Week 11 | Tariffs, Economic Effects of Tariffs, Economic Effects According to Partial Equilibrium Analysis, Rant Effects of Tariffs, Macroeconomic Effects of Tariffs.
| | | Week 12 | Terms of Trade and Optimum Tariffs, Reflection of Tariffs, Effective Protection Rates, Specific International Trade Regime, Tariffs in Turkey. | | | Week 13 | Import Quotas, Import Bans, Exchange Control, System of Multiple Exchange Rate, The new protectionism Voluntary Exports Restrictions, Standards of Health, Security and Environment, Administrative Regulations. | | | Week 14 | Exports Subsidies, Variable Levy on Imports, Exports Taxes, Cartels and Monopoly of Exports.
| | | Week 15 | Globalization, World Trade Organization (WTO), GATT, Polices and Principles of GATT, GATT Meetings, Tasks and Activities of WTO, Types of Economic Integration, Free Trade Association, Custom Unions (CU), Economic Effects of CU, Economic Union, The Second Best Theory, Economic Integrations and Less Developed Countries. | | | Week 16 | Final exam | | | |
| 1 | ÇELİK, KENAN, 2016, ULUSLARARASI İKTİSAT, CELEPLER YAYINEVİ, TRABZON. ((https://kenancelik.net/kitaplarim/)) | | | |
| 1 | Ünsal, Erdal, (2007), Uluslararası İktisat: Teori, Politika ve Açık Ekonomi Makro İktisadı, İmaj Yayınevi, Ankara. | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 11/2023 | 1 | 50 | | End-of-term exam | 16 | 01/2024 | 1 | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 3 | 14 | 42 | | Sınıf dışı çalışma | 8 | 14 | 112 | | Arasınav için hazırlık | 10 | 1 | 10 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 14 | 1 | 14 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 180 |
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