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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 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

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

CONTRIBUTION OF THE COURSE UNIT TO THE PROGRAMME LEARNING OUTCOMES

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.
5
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.
5

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.
5
2
Use theoretical knowledge gained in the field of international trade in occupational practices and daily life.
5
3
Solve financial and legal problems confronted in international trade practices.
5

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.
5
2
Evaluate developments in the world in consideration of common courses in the faculty with an intellectual perspective.
5

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.
5

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.
5

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.
5

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.
5
2
Develop suggestions for international trade policies by determining economic problems in the macro level.
5
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.
5

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
Total Workload of the Course Unit 151
Workload (h) / 25.5 5,9
ECTS Credits allocated for the Course Unit 6,0