Code | Name of the Course Unit | Semester | In-Class Hours (T+P) | Credit | ECTS Credit |
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ITR209 | INTERNATIONAL TRADE THEORY | 3 | 3 | 3 | 6 |
GENERAL INFORMATION |
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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 |
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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) |
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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 |
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Week | Preparatory | Topics(Subjects) | Method |
1 | Reading | Introduction to International Trade: Observations and Statistics on World Trade | Lecture & Question and Answer & Discussion |
2 | Reading | Introduction to Foreign Trade – Basic Concepts | Lecture & Question and Answer & Discussion |
3 | Reading | World Trade: An Overview | Lecture & Question and Answer & Discussion |
4 | Reading | Labor Productivity and Comparative Advantage: The Ricardian Model (Part #1) | Lecture & Question and Answer & Discussion |
5 | Reading | Labor Productivity and Comparative Advantage: The Ricardian Model (Part #2) | Lecture & Question and Answer & Discussion |
6 | Reading | Specific Factors and Income Distribution (Part #1) | Lecture & Question and Answer & Discussion |
7 | Reading | Specific Factors and Income Distribution (Part #2) | Lecture & Question and Answer & Discussion |
8 | - | MID-TERM EXAM | - |
9 | Reading | Resources and Trade: The Heckscher-Ohlin Model (Part #1) | Lecture & Question and Answer & Discussion |
10 | Reading | Resources and Trade: The Heckscher-Ohlin Model (Part #2) | Lecture & Question and Answer & Discussion |
11 | Reading | The Standard Trade Model (Part #1) | Lecture & Question and Answer & Discussion |
12 | Reading | The Standard Trade Model (Part #2) | Lecture & Question and Answer & Discussion |
13 | Reading | External Economies of Scale and the International Location of Production (Part #1) | Lecture & Question and Answer & Discussion |
14 | Reading | External Economies of Scale and the International Location of Production (Part #2) | Lecture & Question and Answer & Discussion |
15 | Reading | General Review | Lecture & Question and Answer & Discussion |
16 | - | FINAL EXAM | - |
17 | - | FINAL EXAM | - |
SOURCE MATERIALS & RECOMMENDED READING |
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Krugman, Paul R., Obstfeld, Maurice and Melitz, Marc J. (2015). International Economics: Theory & Policy. 10th edition, Boston: Addison-Wesley. |
ASSESSMENT |
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Assessment & Grading of In-Term Activities | Number of Activities | Degree of Contribution (%) | Description |
Level of Contribution | |||||
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0 | 1 | 2 | 3 | 4 | 5 |
KNOWLEDGE |
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Theoretical |
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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.
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5 | |||||
2 |
Recognize the entries in the book and financial balance sheet of the business organization.
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4 | |||||
3 |
Define concepts, theories and principles of basic and subfields of international trade by adhering to the background knowledge.
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5 |
KNOWLEDGE |
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Factual |
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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.
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5 | |||||
2 |
Use theoretical knowledge gained in the field of international trade in occupational practices and daily life.
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5 | |||||
3 |
Solve financial and legal problems confronted in international trade practices.
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5 |
SKILLS |
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Cognitive |
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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.
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5 | |||||
2 |
Evaluate developments in the world in consideration of common courses in the faculty with an intellectual perspective.
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5 |
SKILLS |
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Practical |
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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.
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5 |
OCCUPATIONAL |
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Autonomy & Responsibility |
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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.
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5 |
OCCUPATIONAL |
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Learning to Learn |
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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.
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5 |
OCCUPATIONAL |
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Communication & Social |
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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.
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4 | |||||
2 |
Tell knowledge, thoughts and solution offers regarding subjects in international trade to relevant stakeholders demands in written or verbally.
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5 | |||||
3 |
Design a healthy communication network for themselves in the business world by using social life skills.
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4 |
OCCUPATIONAL |
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Occupational and/or Vocational |
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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.
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5 | |||||
2 |
Develop suggestions for international trade policies by determining economic problems in the macro level.
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5 | |||||
3 |
Apply commercial applications in consideration of knowledge gained in financing and management of international trade by being inclusive of international market
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4 | |||||
4 |
Discuss the effects of commercial and financial globalization processes on the income distribution, by benefiting from data.
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5 |
WORKLOAD & ECTS CREDITS OF THE COURSE UNIT |
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Workload for Learning & Teaching Activities |
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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 |
Total Workload of the Course Unit | 151 | ||
Workload (h) / 25.5 | 5,9 | ||
ECTS Credits allocated for the Course Unit | 6,0 |