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Description of Individual Course Units| Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits | | FS0904.1 | Foreign Trade Theories | Elective | 3 | 6 | 3 |
| | Level of Course Unit | | First Cycle | | Objectives of the Course | | To give information about the reasons for foreign trade and theories that regulates international economic relations, by examining the international dimension of the economic relations. | | Name of Lecturer(s) | | | Learning Outcomes | | 1 | To understand the causes of international trade | | 2 | To demonstrate theoretical substructure of international trade | | 3 | To evaluate the objectives and instruments of foreign trade policy | | 4 | To determine the general framework of international monetary relations | | 5 | To assess macroeconomic international relations |
| | Mode of Delivery | | Normal Education | | Prerequisites and co-requisities | | none | | Recommended Optional Programme Components | | - | | Course Contents | | International trade theories, Factor Endowment Theory, The Analysis of Foreign Trade balance and The Analysis between realtionship Foreign Trade and Economic Growth | | Weekly Detailed Course Contents | |
| 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 | Midterm 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. | | |
| | Recommended or Required Reading | | Halil Seyidoğlu, Uluslar arası İktisat, Teori,Politika ve Uygulama, 17.Baskı, Güzem Can Yayınları, 2009. Dominick Salvatore, International Economics, Sixth Edition, John Wilw and Sons Inc, 1999.Paul Krugman, Maurice Obstfeld, Marc Melitz, International Economics Theory and Policy, Ninth Edition, Addison-Wesley, 2012. | | Planned Learning Activities and Teaching Methods | | | Assessment Methods and Criteria | |
| Midterm Examination | 1 | 100 | | SUM | 100 | |
| Final Examination | 1 | 100 | | SUM | 100 | | Term (or Year) Learning Activities | 40 | | End Of Term (or Year) Learning Activities | 60 | | SUM | 100 |
| | Language of Instruction | | | Work Placement(s) | | - |
| | Workload Calculation | |
| Midterm Examination | 1 | 1 | 1 | | Final Examination | 1 | 2 | 2 | | Quiz | 1 | 1 | 1 | | Attending Lectures | 14 | 2 | 28 | | Project Preparation | 2 | 10 | 20 | | Project Presentation | 1 | 1 | 1 | | Individual Study for Mid term Examination | 5 | 1 | 5 | | Individual Study for Final Examination | 10 | 2 | 20 | |
| Contribution of Learning Outcomes to Programme Outcomes | | LO1 | 5 | 4 | 4 | 4 | 4 | 4 | | LO2 | 5 | 4 | 5 | 4 | 4 | 4 | | LO3 | 4 | 4 | 4 | 4 | 4 | 4 | | LO4 | 5 | 5 | 5 | 5 | 5 | 5 | | LO5 | 4 | 5 | 5 | 5 | 5 | 5 |
| | * Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High |
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