ELECTRICAL AND ELECTRONICS ENGINEERING
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
IB3413	International Trade Theory	Spring	3	0	3	9

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:	Non-Departmental Elective
Course Level:	Bachelor’s Degree (First Cycle)
Mode of Delivery:	Face to face
Course Coordinator :	Assoc. Prof. HÜMEYRA ADIGÜZEL
Recommended Optional Program Components:	None
Course Objectives:	This course aims at providing an introduction to the basis of international trade in order to provide students with a theoretical understanding of trade relations among the countries. The course is devoted to the examination of various theoretical approaches (i.e. Ricardian, Heckscher-Ohlin models, new trade theories) that help to explain several questions such as ‘what explains the patterns of trade?, ‘why do nations trade?, What is the basis for trade?, What are the welfare implications of trade liberalization?, Who gains from trade?’.

Learning Outcomes

The students who have succeeded in this course;
The students who have succeeded in this course;
1. Learn different theoretical models explaining trade patterns, gains from trade and income distribution effects of trade.
2. Evaluate global trade flows by applying the theoretical models learned in this course.
3. Evaluate various debates concerning free trade vs protectionism/mercantilism.
4. Understand the dynamic nature of comparative advantage and identify the situations when this concept is not applicable.
5. Learn the factors that motivate a firm that invests abroad and consequences of foreign investments.
6. Learn to access and interpret data on international trade flows.

Course Content

1st Week: General introduction: What is ‘international trade’? Trends in world trade in goods and services.
2nd Week: Classical Trade Model: Absolute Advantages and Opportunity Cost.
3rd Week: Classical Trade Model: The Ricardian Model and Comparative Advantage.
4th Week: Classical Trade Model: The Ricardian Model and Comparative Advantage.
5th Week: Neoclassical Trade Model: The corollaries of ‘Heckscher-Ohlin’ model.
6th Week: Neoclassical Trade Model: Factor endowments and ‘Heckscher-Ohlin’ model.
7th Week: Midterm examination
8th Week: Neoclassical Trade Model: Stolper-Samuelson theorem; Rybczynski theorem; Factor-price equalization theorem.
9th Week: Neoclassical Trade Model: Standard Trade Model.
10th Week: New trade theory: Economies of scale and imperfect competition.
11th Week: New trade theory: Economies of scale and imperfect competition.
12th Week: Implications of Trade New trade theory; strategic trade policy and intra-industry trade.
13th Week: Product cycle theory.
14th Week: Overall evaluation.

Weekly Detailed Course Contents

Week	Subject	Related Preparation
1)	1st Week: General introduction: What is ‘international trade’? Trends in world trade in goods and services.
2)	2nd Week: Classical Trade Model: Absolute Advantages and Opportunity Cost.
3)	3rd Week: Classical Trade Model: The Ricardian Model and Comparative Advantage.
4)	4th Week: Classical Trade Model: The Ricardian Model and Comparative Advantage.
5)	5th Week: Neoclassical Trade Model: The corollaries of ‘Heckscher-Ohlin’ model.
6)	6th Week: Neoclassical Trade Model: Factor endowments and ‘Heckscher-Ohlin’ model.
7)	7th Week: Review
8)	8th Week: Neoclassical Trade Model: Stolper-Samuelson theorem; Rybczynski theorem; Factor-price equalization theorem.
9)	9th Week: Neoclassical Trade Model: Standard Trade Model.
10)	10th Week: New trade theory: Economies of scale and imperfect competition.
11)	11th Week: New trade theory: Economies of scale and imperfect competition.
12)	12th Week: Implications of Trade New trade theory; strategic trade policy and intra-industry trade.
13)	13th Week: Product cycle theory.
14)	14th Week: Overall evaluation.

Sources

Course Notes / Textbooks:

Temel kaynak kitap:
Required Text:
Krugman, P. and M. Obstfeld (2011), International Economics, 9th edition, Pearson, Addison Wesley.

References:

Yararlı eserler:
Optional Texts:
Caves, Frankel and Jones (2007), World Trade and Payments: An Introduction, 10th edition, Pearson, Addison Wesley.

Seyidoğlu, Halil (2009), Uluslararası İktisat, 17. Baskı. (In Turkish).

Karluk, Rıdvan (2009), Uluslararası Ekonomi, 9. Baskı, Beta yayınevi. (In Turkish).

Pugel, Thomas (2009), International Economics, 14th ed., McGraw-Hill-Irwin.

Suranovic, S. (2010), International Trade Theory and Policy, Flat World Knowledge, online textbook.

Bhagwati, J. (2002), Free Trade Today, Princeton Univ. Press.

WTO (2007), World Trade Review 2007, Geneva: WTO.

Evaluation System

Semester Requirements	Number of Activities	Level of Contribution
Quizzes	2	% 30
Midterms	1	% 30
Final	1	% 40
Total		% 100
PERCENTAGE OF SEMESTER WORK		% 60
PERCENTAGE OF FINAL WORK		% 40
Total		% 100

ECTS / Workload Table

Activities	Number of Activities	Workload
Course Hours	14	40
Study Hours Out of Class	16	101
Quizzes	2	2
Midterms	1	2
Final	1	2
Total Workload		147

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)	Adequate knowledge in mathematics, science and electric-electronic engineering subjects; ability to use theoretical and applied information in these areas to model and solve engineering problems.
2)	Ability to identify, formulate, and solve complex engineering problems; ability to select and apply proper analysis and modeling methods for this purpose.
3)	Ability to design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the desired result; ability to apply modern design methods for this purpose. (Realistic constraints and conditions may include factors such as economic and environmental issues, sustainability, manufacturability, ethics, health, safety issues, and social and political issues, according to the nature of the design.)
4)	Ability to devise, select, and use modern techniques and tools needed for electrical-electronic engineering practice; ability to employ information technologies effectively.
5)	Ability to design and conduct experiments, gather data, analyze and interpret results for investigating engineering problems.
6)	Ability to work efficiently in intra-disciplinary and multi-disciplinary teams; ability to work individually.
7)	Ability to communicate effectively in English and Turkish (if he/she is a Turkish citizen), both orally and in writing.
8)	Recognition of the need for lifelong learning; ability to access information, to follow developments in science and technology, and to continue to educate him/herself.
9)	Awareness of professional and ethical responsibility.
10)	Information about business life practices such as project management, risk management, and change management; awareness of entrepreneurship, innovation, and sustainable development.
11)	Knowledge about contemporary issues and the global and societal effects of engineering practices on health, environment, and safety; awareness of the legal consequences of engineering solutions.