| GASTRONOMY (TURKISH) | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| 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. |
| 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?’. |
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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. |
| 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. |
| 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. |
| 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. |
| 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 | |
| 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 | |
| No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | - Possess advanced level theoretical and practical knowledge supported by textbooks with updated information, practice equipments and other resources. | |
| 2) | Use of advanced theoretical and practical knowledge within the field. -Interpret and evaluate data, define and analyze problems, develop solutions based on research and proofs by using acquired advanced knowledge and skills within the field. | |
| 3) | Inform people and institutions, transfer ideas and solution proposals to problems in written and orally on issues in the field. - Share the ideas and solution proposals to problems on issues in the field with professionals and non-professionals by the support of qualitative and quantitative data. -Organize and implement project and activities for social environment with a sense of social responsibility. -Monitor the developments in the field and communicate with peers by using a foreign language at least at a level of European Language Portfolio B1 General Level. -Use informatics and communication technologies with at least a minimum level of European Computer Driving License Advanced Level software knowledge. | |
| 4) | Evaluate the knowledge and skills acquired at an advanced level in the field with a critical approach. -Determine learning needs and direct the learning. -Develop positive attitude towards lifelong learning. | |
| 5) | Act in accordance with social, scientific, cultural and ethic values on the stages of gathering, implementation and release of the results of data related to the field. - Possess sufficient consciousness about the issues of universality of social rights, social justice, quality, cultural values and also, environmental protection, worker's health and security. | |
| 6) | Conduct studies at an advanced level in the field independently. - Take responsibility both as a team member and individually in order to solve unexpected complex problems faced within the implementations in the field. - Planning and managing activities towards the development of subordinates in the framework of a project |