MATHEMATICS
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

Course Introduction and Application Information

Course Code	Course Name	Semester	Theoretical	Practical	Credit	ECTS
ECO3401	International Economics	Fall	3	0	3	8

This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester.

Basic information

Language of instruction:	English
Type of course:	Departmental Elective
Course Level:	Bachelor’s Degree (First Cycle)
Mode of Delivery:	Hybrid
Course Coordinator :	Assoc. Prof. KAAN İRFAN ÖĞÜT
Recommended Optional Program Components:	None
Course Objectives:	This course examines the economic rationale for trade among nations and its consequences for the people of the nations involved as well as its relation with the macroeconomic fundamentals and macroeconomic perspectives of an open economy. Topics to be considered include comparative advantage, gains from trade, traditional and recent arguments for protection, determination of exchange rates, monetary policy in an open economy and international capital markets. In addition, the course considers the effects of trade and other policies on economic growth and development. Emphasis is given to the principle analytical concepts and results relevant to the special problems of developing nations.

Learning Outcomes

The students who have succeeded in this course;
1. Understand, concept of comparative advantage and the gains from trade
2. Understand the dynamics of exchange rate market and the determinants of the exchange rate.
3. Analyze the result of fiscal and monetary policies on an open economy under the different exchange rate regimes.
4. Download data, sketch graph and analyze the international economic condition of selected countries.
5. Perceive effects of the capital flows on emerging countries especially on Turkey.
6. Understand concepts of international economics, trade and finance.

Course Content

The first part of the course covers the trade theory, standard trade models and trade policy. The second part of the course includes foreign exchange markets, money and exchange rate policy in open economies.

Weekly Detailed Course Contents

Week	Subject	Related Preparation
1)	Introduction and Motivation
2)	The concept of Comparative Advantage
3)	Ricardian Model of Trade
4)	Standard Trade Model, Terms of Trade
5)	Economies of Scale and Imperfect Competition
6)	Intra-industry Trade
7)	Balance of Payments and the Current Account
8)	Exchange Rates
9)	Money, Interest Rates and Exchange Rates
10)	Money, Interest Rates and Exchange Rates continued
11)	Price Levels and the Real Exchange Rate
12)	Output and Exchange Rate
13)	Output and Exchange Rate continued
14)	Policy Analysis -- Foreign Exchange Intervention, Sterilization
15)	Preparation for the Final Exam
16)	Final Exam

Sources

Course Notes / Textbooks:	Paul R. Krugman and Maurice Obstfeld, International Economics: Theory and Policy, 8th Edition.
References:

Evaluation System

Semester Requirements	Number of Activities	Level of Contribution
Quizzes	3	% 36
Midterms	1	% 20
Final	1	% 44
Total		% 100
PERCENTAGE OF SEMESTER WORK		% 56
PERCENTAGE OF FINAL WORK		% 44
Total		% 100

ECTS / Workload Table

Activities	Number of Activities	Workload
Course Hours	14	40
Study Hours Out of Class	16	82
Homework Assignments	4	16
Midterms	1	2
Final	1	2
Total Workload		142

Contribution of Learning Outcomes to Programme Outcomes

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	To have a grasp of basic mathematics, applied mathematics and theories and applications in Mathematics
2)	To be able to understand and assess mathematical proofs and construct appropriate proofs of their own and also define and analyze problems and to find solutions based on scientific methods,
3)	To be able to apply mathematics in real life with interdisciplinary approach and to discover their potentials,
4)	To be able to acquire necessary information and to make modeling in any field that mathematics is used and to improve herself/himself,
5)	To be able to tell theoretical and technical information easily to both experts in detail and non-experts in basic and comprehensible way,
6)	To be familiar with computer programs used in the fields of mathematics and to be able to use at least one of them effectively at the European Computer Driving Licence Advanced Level,
7)	To be able to behave in accordance with social, scientific and ethical values in each step of the projects involved and to be able to introduce and apply projects in terms of civic engagement,
8)	To be able to evaluate all processes effectively and to have enough awareness about quality management by being conscious and having intellectual background in the universal sense,
9)	By having a way of abstract thinking, to be able to connect concrete events and to transfer solutions, to be able to design experiments, collect data, and analyze results by scientific methods and to interfere,
10)	To be able to continue lifelong learning by renewing the knowledge, the abilities and the competencies which have been developed during the program, and being conscious about lifelong learning,
11)	To be able to adapt and transfer the knowledge gained in the areas of mathematics ; such as algebra, analysis, number theory, mathematical logic, geometry and topology to the level of secondary school,
12)	To be able to conduct a research either as an individual or as a team member, and to be effective in each related step of the project, to take role in the decision process, to plan and manage the project by using time effectively.