INTERNATIONAL TRADE THEORY PROGRAMME COURSE DESCRIPTION

Code	Name of the Course Unit	Semester	In-Class Hours (T+P)	Credit	ECTS Credit
ITR209	INTERNATIONAL TRADE THEORY	3	3	3	6

GENERAL INFORMATION
Language of Instruction :	English
Level of the Course Unit :	BACHELOR'S DEGREE, TYY: + 6.Level, EQF-LLL: 6.Level, QF-EHEA: First Cycle
Type of the Course :	Compulsory
Mode of Delivery of the Course Unit	-
Coordinator of the Course Unit	Assoc.Prof. ONUR ÖZDEMİR
Instructor(s) of the Course Unit	Assist.Prof. ONUR ÇELİK
Course Prerequisite	No

OBJECTIVES AND CONTENTS
Objectives of the Course Unit:	This course aims to introduce the necessity of international trade, macro structure, free trade, trade policies, significant international institutions and effects of these institutions on international trade practices; international trade theories started in the mercantilist period and extended and transformed up to the present.
Contents of the Course Unit:	Contents of the course include classical theory of trade, Heckscher-Ohlin theorem, imperfect competition, gains from trade, institutions in international trade, Turkey – EU custom union agreement, method of payment in foreign trade, documents exercised in international trade, customs rules and practices, balance of international payments, foreign trade policies practices, international trade and economic growth and theory of trade and development.

KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to)
Define the international business concept in order to manage commercial activities in international environment.
Summarize the relation of international business, trade and investment with politics and economy.
Define the investment environment in which trade and international business transactions occur.
Interpret macroeconomic and political changes in globalization and beyond globalization.

WEEKLY COURSE CONTENTS AND STUDY MATERIALS FOR PRELIMINARY & FURTHER STUDY
Week	Preparatory	Topics(Subjects)	Method
1	Reading	Scope and general assessment of international trade	Lecture & Question and Answer & Discussion
2	Reading	Fundamentals and basic assumptions of international trade	Lecture & Question and Answer & Discussion
3	Reading	Classical Economics, Labor theory of value and Absolute Advantages Theory	Lecture & Question and Answer & Discussion
4	Reading	Comparative Advantages Theory and criticisms of the Theory, production-cost analysis	Lecture & Question and Answer & Discussion
5	Reading	Supply-demand models in international trade: Law of reciprocal demand and offer curve analysis	Lecture & Question and Answer & Discussion
6	Reading	Supply-demand models in international trade: Social indifference Curves analysis and gains from trade	Lecture & Question and Answer & Discussion
7	Reading	Heckscher-Ohlin Model: Factor Endowment Theory	Lecture & Question and Answer & Discussion
8	-	MID-TERM EXAM	-
9	Reading	Theorems derived from Heckscher-Ohlin Model, Leontief Paradox	Lecture & Question and Answer & Discussion
10	Reading	New trade theorems and analysis of economic growth and international trade nexus	Lecture & Question and Answer & Discussion
11	Reading	International trade policy: Definition, types and instruments	Lecture & Question and Answer & Discussion
12	Reading	International trade policy: Definition, types and instruments	Lecture & Question and Answer & Discussion
13	Reading	Customs tariff analysis	Lecture & Question and Answer & Discussion
14	Reading	Analysis of other international trade instruments	Lecture & Question and Answer & Discussion
15	Reading	Introduction to the balance of payment and general review	Lecture & Question and Answer & Discussion
16	-	FINAL EXAM	-
17	-	FINAL EXAM	-

SOURCE MATERIALS & RECOMMENDED READING
Krugman, Paul R., Obstfeld, Maurice and Melitz, Marc J. (2015). International Economics: Theory & Policy. 10th edition, Boston: Addison-Wesley.

ASSESSMENT
Assessment & Grading of In-Term Activities	Number of Activities	Degree of Contribution (%)	Description

Level of Contribution
0	1	2	3	4	5

KNOWLEDGE
Theoretical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Describe basic theories of microeconomics and macroeconomics by benefiting from assumptions and axioms.					4
2	Recognize the entries in the book and financial balance sheet of the business organization.					4
3	Define concepts, theories and principles of basic and subfields of international trade by adhering to the background knowledge.				3

KNOWLEDGE
Factual
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Summarize historical development of the international trade theories by adhering to the chronological order.					4
2	Use theoretical knowledge gained in the field of international trade in occupational practices and daily life.				3
3	Solve financial and legal problems confronted in international trade practices.				3

SKILLS
Cognitive
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Relate statistical raw data by benefiting from computer programs and relate data with one another in consideration of theoretical knowledge.			2
2	Evaluate developments in the world in consideration of common courses in the faculty with an intellectual perspective.					4

SKILLS
Practical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Interpret current events and facts in international trade based on advanced knowledge and skills from an analytical and systematic holistic view.			2

OCCUPATIONAL
Autonomy & Responsibility
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Relate knowledge about economic globalization and internationalization with current knowledge in the field.				3

OCCUPATIONAL
Learning to Learn
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Examine current economic policies applied over the gained advanced knowledge and skills by a critical approach.				3

OCCUPATIONAL
Communication & Social
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Explain demands in written or verbally by using the foreign language skill in business and social life effectively.					4
2	Tell knowledge, thoughts and solution offers regarding subjects in international trade to relevant stakeholders demands in written or verbally.						5
3	Design a healthy communication network for themselves in the business world by using social life skills.					4

OCCUPATIONAL
Occupational and/or Vocational
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Analyze current issues, events and problems by benefiting from theoretical and historical knowledge of international trade and economics.					4
2	Develop suggestions for international trade policies by determining economic problems in the macro level.				3
3	Apply commercial applications in consideration of knowledge gained in financing and management of international trade by being inclusive of international market					4
4	Discuss the effects of commercial and financial globalization processes on the income distribution, by benefiting from data.					4

WORKLOAD & ECTS CREDITS OF THE COURSE UNIT
Workload for Learning & Teaching Activities
Type of the Learning Activites	Learning Activities (# of week)	Duration (hours, h)	Workload (h)
Lecture & In-Class Activities	14	3	42
Preliminary & Further Study	13	4	52
Land Surveying	0	0	0
Group Work	0	0	0
Laboratory	0	0	0
Reading	0	0	0
Assignment (Homework)	0	0	0
Project Work	0	0	0
Seminar	0	0	0
Internship	0	0	0
Technical Visit	0	0	0
Web Based Learning	0	0	0
Implementation/Application/Practice	0	0	0
Practice at a workplace	0	0	0
Occupational Activity	0	0	0
Social Activity	0	0	0
Thesis Work	0	0	0
Field Study	0	0	0
Report Writing	0	0	0
Final Exam	1	1	1
Preparation for the Final Exam	7	5	35
Mid-Term Exam	1	1	1
Preparation for the Mid-Term Exam	5	4	20
Short Exam	0	0	0
Preparation for the Short Exam	0	0	0
TOTAL	41	0	151