FUNDAMENTALS OF INTERNATIONAL TRADE THEORY PROGRAMME COURSE DESCRIPTION

Code	Name of the Course Unit	Semester	In-Class Hours (T+P)	Credit	ECTS Credit
UTI118	FUNDAMENTALS OF INTERNATIONAL TRADE THEORY	2	3	3	4

GENERAL INFORMATION
Language of Instruction :	Turkish
Level of the Course Unit :	, TYY: + , EQF-LLL: , QF-EHEA:
Type of the Course :	Compulsory
Mode of Delivery of the Course Unit	-
Coordinator of the Course Unit
Instructor(s) of the Course Unit
Course Prerequisite	No

OBJECTIVES AND CONTENTS
Objectives of the Course Unit:	This course aims to provide students with an understanding of why international trade is important, the internal dynamics of international trade, free trade and interventionist trade policies, significant international developments and their impacts on international trade practices. It also seeks to convey the evolution and transformation of international trade theories from the Mercantilist era to the present day
Contents of the Course Unit:	The course content offers an in-depth examination of trade theories, beginning with the Mercantilist Doctrine and continuing with the ideas of Adam Smith. Topics covered include gains from international trade in a two-country, two-good model, the Heckscher-Ohlin theorem, imperfect competition, interventionist foreign trade policy, and the balance of payments.

KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to)
Explains the importance and basic concepts of international trade. (Bloom 2)
It defines classical and modern trade theories, starting with mercantilist doctrine. (Bloom 2)
It analyzes the profits obtained from trade in two-country and two-good models. (Bloom 4)
Compares the Heckscher–Ohlin theorem and imperfect competition approaches. (Bloom 4)
Evaluates interventionist foreign trade policies and the balance of payments within a theoretical framework. (Bloom 5)

WEEKLY COURSE CONTENTS AND STUDY MATERIALS FOR PRELIMINARY & FURTHER STUDY
Week	Preparatory	Topics(Subjects)	Method
1	Reading	A Historical Overview and General Evaluations within the Scope of International Trade	Presentation & Q&A & Presentation
2	Reading	Mercantilist Thought and International Trade	Presentation & Q&A & Presentation
3	Reading	Fundamental Assumptions in International Trade and Adam Smith’s Thoughts	Presentation & Q&A & Presentation
4	Reading	Classical Economics, Labor Theory of Value, and Absolute Advantages Theory	Presentation & Q&A & Presentation
5	Reading	Comperative Advantages Theory	Presentation & Q&A & Presentation
6	Reading	Heckscher-Ohlin’s Model: Factor Endowment Theory	Presentation & Q&A & Presentation
7	Reading	Analysis of the Relationship Between Foreign Trade and Economic Growth	Presentation & Q&A & Presentation
8	Reading	Theories Derived from the Heckscher-Ohlin Model, the Leontief Paradox, and New Approaches	Presentation & Q&A & Presentation
9	Reading	Analysis of the Relationship Between Foreign Trade and Economic Growth	Presentation & Q&A & Presentation
10	-	MID-TERM EXAM	-
11	Reading	Protectionism in International Trade	Presentation & Q&A & Presentation
12	Reading	Foreign Trade Policy Instruments: Customs Tariffs Analysis	Presentation & Q&A & Presentation
13	Reading	Foreign Trade Policy Instruments: Import Quotas and Additional Regulatory Tool	Presentation & Q&A & Presentation
14	Reading	Introduction to Balance of Payments	Presentation & Q&A & Presentation
15	Reading	General Review	Presentation & Q&A & Presentation
16	-	FINAL EXAM	-
17	-	FINAL EXAM	-

SOURCE MATERIALS & RECOMMENDED READING
Seyidoğlu, H. (2020). Uluslararası iktisat: Teori, politika ve uygulama. Güzem Can Yayınları.
Karluk, R. S. (2018). Uluslararası ekonomi. Beta Basım Yayım.
Yıldırım, K., Karaman, D., & Taşdemir, M. (2019). Uluslararası iktisat: Teori ve politika. Seçkin Yayıncılık.
Ertürk, E. (2017). Uluslararası iktisat. Ekin Yayınevi.
Ünsal, E. M. (2016). Uluslararası iktisat. İmaj Yayınevi.

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

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.						5
2	Recognize the entries in the book and financial balance sheet of the business organization.		1
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.					4
3	Solve financial and legal problems confronted in international trade practices.					4

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.		1
2	Evaluate developments in the world in consideration of common courses in the faculty with an intellectual perspective.				3

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.					4

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.					4

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.		1
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.				3

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						5
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	14	1	14
Land Surveying	0	0	0
Group Work	0	0	0
Laboratory	0	0	0
Reading	12	2	24
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	2	5	10
Mid-Term Exam	1	1	1
Preparation for the Mid-Term Exam	2	5	10
Short Exam	0	0	0
Preparation for the Short Exam	0	0	0
TOTAL	46	0	102