Bayburt University Lifelong Learning Programme

Description of Individual Course Units

Course Unit Code	Course Unit Title	Type of Course Unit	Year of Study	Semester	Number of ECTS Credits
İKT301B	International Economics-I	Compulsory	3	5	6

Level of Course Unit

First Cycle

Objectives of the Course

Objective of this course is to show how the world economy works, international economic relations on national economy and effect to their national economics.

Name of Lecturer(s)

Learning Outcomes

1	define general concepts about international economics
2	explain general frame of international economic relations
3	compare foreign trade theories and policies
4	analyze effects of international economic relations on national economy and relations between foreign trade and economic growth
5	connect relations among trade policies, trade theories and world economy

Mode of Delivery

Normal Education

Prerequisites and co-requisities

None

Recommended Optional Programme Components

None

Course Contents

Theory of comparative advantages, supply and demand models, factor endowment theory, foreign trade theory and economic growth analysis, foreign trade policy, custom tariff, non-tariff trade policy barriers, international trade agreements and counter-trade, liberation of world trade.

Weekly Detailed Course Contents

Week	Theoretical	Practice	Laboratory
1	Emergence of International Trade Theory, Mercantilism, Classical Liberalism and A. Smith, Analysis of International Trade Theory, Theory of Absolute Advantage, The Model of Comparative Advantage.
2	Opportunity Costs and Foreign Trade, Transformation Curves, Fixed Costs and Foreign Trade, Increasing Costs and Foreign Trade, Diminishing Costs and Foreign Trade,
3	Models of Supply and Demand, Terms of Trade, Law of Reciprocal Demand, Offer Curves, Useful of Offer Curves, Shifts of Offer Curves
4	Social Indifference Curves, Closed Economy Equilibrium, Open Economy Equilibrium, Benefits of International Trade.
5	Theory of Factor Endowments, Heckscher-Ohlin Theory, Theorem of International Factor Prices Equalization, The Stolper-Samuelson Theorem, The Specifics Factors Model.
6	Tests of Factor Endowments Theory, Leontief Paradox, Skilled Labor Theorem, Theorem of Technological Gap, Product Cycle Model, Theorem of Similarity in Preferences, Economies of Scale Theorem, The Monopolistic Competition Theorem, Intra-Industry Trade and Inter-Industry Trade, Measurement of Intra-Industry Trade, Transports Costs and Foreign Trade.
7	Analyses of Economic Growth and International Trade, Increases in Factor Supply and International Trade, The Rybczynski Theorem, Technological Development, Unbiased Technological Development, Labor-Saving Technological Progress, Capital-Saving Technological Progress, Immiserizing Growth, Terms of Trade and Less Developed Countries, Economic Development and Comparative Advantages
8	Mid-term exam
9	Policies of Foreign Trade, Objectives of Foreign Trade Policy, Instruments of Foreign Trade Policy, Historical Foreign Trade Policies.
10	Protectionism in Foreign Trade, Causes of Protectionism, National Security, Infant Industry Argument, Strategic Trade Policy, Protectionism against Damping, Improvement of Balance of Payment Deficits, Decreasing Unemployment, Improvement of Terms of Trade, Arguments Based on Personal Interest
11	Tariffs, Economic Effects of Tariffs, Economic Effects According to Partial Equilibrium Analysis, Rant Effects of Tariffs, Macroeconomic Effects of Tariffs.
12	Terms of Trade and Optimum Tariffs, Reflection of Tariffs, Effective Protection Rates, Specific International Trade Regime, Tariffs in Turkey.
13	Import Quotas, Import Bans, Exchange Control, System of Multiple Exchange Rate, The new protectionism Voluntary Exports Restrictions, Standards of Health, Security and Environment, Administrative Regulations.
14	Exports Subsidies, Variable Levy on Imports, Exports Taxes, Cartels and Monopoly of Exports.
15	Globalization, World Trade Organization (WTO), GATT, Polices and Principles of GATT, GATT Meetings, Tasks and Activities of WTO, Types of Economic Integration, Free Trade Association, Custom Unions (CU), Economic Effects of CU, Economic Union, The Second Best Theory, Economic Integrations and Less Developed Countries.