Electrical & Electronics Engineering (English)
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

General course introduction information

Course Code:

ITRD301

Course Name:

International Trade Models

Course Semester:

Fall

Course Credits:

Theoretical	Practical	Credit	ECTS
3	0	3	6

Language of instruction:

TR-EN

Course Requisites:

Does the Course Require Work Experience?:

Type of course:

Compulsory

Course Level:

Bachelor

TR-NQF-HE:6. Master`s Degree

QF-EHEA:First Cycle

EQF-LLL:6. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Assoc. Prof. BÜLENT HOCA

Course Lecturer(s):

Dr.Öğr.Üyesi SEDA KEKLİK
Prof. Dr. AYLİN SOYDAN

Course Assistants:

Course Objective and Content

Course Objectives:	The purpose of this course is to prepare students to be managers for the increasingly competitive international trade world. The emphasis of this course will be on concepts and models of international trade. Students can define and explain these models and related concepts of international finance such as balance of payments, current account, foreign-exchange market.
Course Content:	At the end of this course the student will be able to: • Identify the characteristics of world trade • Recall, explain and compare main theories of trade • Recall, explain and compare implications of trade theories and their relation to ethics • Define and explain the concepts and theories of balance of payments • List and describe foreign exchange markets and monetary systems.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) • Identify the characteristics of world trade
2) • Recall, explain and compare main theories of trade
3) • Recall, explain and compare implications of trade theories and their relation to ethics
4) • Define and explain the concepts and theories of balance of payments
5) • List and describe foreign exchange markets and monetary systems.
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
Competence to Work Independently and Take Responsibility

Lesson Plan

Week	Subject	Related Preparation
1)	• Syllabus. • Illustrate the questions that international economists study. • Describe the characteristics of national economies. • List the major exporting and importing countries. • Explain the direction of international trade
2)	• Understand the methodological preliminaries. • Explain the general equilibrium model. • List the assumptions of the autarky model. • Understand the solution of the model.
3)	• Explain the historical conditions of mercantilism. • Explain the critique of mercantilism. • Explain absolute advantage as a basis for trade. • Illustrate absolute advantage theory. • Discuss gains from trade.
4)	• Explain comparative advantage as a basis for trade. • Illustrate comparative advantage theory. • Illustrate the general equilibrium solution of the classical model. • Discuss gains from trade.
5)	• Understand the basic assumptions of Hecksher-Ohlin (HO) Model. • Define factor endowment and factor intensity. • Explain the HO Theorem. • Illustrate the equilibrium in the HO Model
6)	• List new HO theorems. • Understand Rybczynski theorem. • Explain factor price equalization theorem. • Describe the Stolper-Samuelson theorem.
7)	• List the tests of the HO model. • Define the input-output table • Summarize the Leontief paradox. • Discuss the implications of the Leontief paradox.
8)	• Explain product cycle theory • Define intra-industry trade. • Define internal and external economies of scale. • Explain the New Trade Theory.
9)	• Explain the direction of international trade • Explain absolute advantage as a basis for trade. • Explain comparative advantage as a basis for trade. • Understand Rybczynski theorem. • Explain factor price equalization theorem. • Describe the Stolper-Samuelson theorem. • Summarize the Leontief paradox. • Define intra-industry trade and market imperfections like economies of scale • Explain the New Trade Theory.
10)	• Define BOP Accounting. • List the current account entries. • Describe the measures of the current account. • Calculate the current account balances.
11)	• List the financial account entries. • Define different types of capital flows. • Compare different types of capital flows. • Define the relation between current account, financial account and international reserves.
12)	• List and explain the reasons for holding foreign exchange. • Describe the foreign-exchange market. • Define spot market. • Describe forward market. • Define futures market.
13)	• Explain the changes of foreign exchange in different foreign exchange regimes. • Discuss the effects of changes in foreign exchange rate on current account balance. • Define the Marshall-Lerner condition • Explain the exchange rate pass-through.
14)	• Explain the elasticities approach to the current account. • Define elasticities and J curves. • Describe the evidence from devaluations. • Explain the absorption approach.
15)	• Final Exam • Explain absolute advantage, comparative advantage and factor endowment. • Define intra-industry trade and market imperfections like economies of scale. • Explain the New Trade Theory. • List the current account and financial account entries. • Describe the measures of the BOP. • Define the types of foreign-exchange market. • Explain the theories of current account.

Sources

Course Notes / Textbooks:	Uluslararası İktisat Yazar: Halil Seyidoğlu Yayıncı: Güzem Can Yayınları, 20.Baskı, 2015 ISBN: 975-7516-10-4
References:	yok

Course-Program Learning Outcome Relationship

Learning Outcomes	1	2	3	4	5
Program Outcomes
1) Sufficient knowledge in mathematics, science and engineering related to their branches; and the ability to apply theoretical and practical knowledge in these areas to model and solve engineering problems.
2) The ability to identify, formulate, and solve complex engineering problems; selecting and applying appropriate analysis and modeling methods for this purpose.
3) The ability to design a complex system, process, device or product under realistic constraints and conditions to meet specific requirements; the ability to apply modern design methods for this purpose. (Realistic constraints and conditions include such issues as economy, environmental issues, sustainability, manufacturability, ethics, health, safety, social and political issues, according to the nature of design.)
4) Ability to develop, select and use modern techniques and tools necessary for engineering applications; ability to use information technologies effectively.
5) Ability to design experiments, conduct experiments, collect data, analyze and interpret results to examine engineering problems or discipline-specific research topics.
6) The ability to work effectively in disciplinary and multidisciplinary teams; individual work skill.
7) Effective communication skills in Turkish oral and written communication; at least one foreign language knowledge; ability to write effective reports and understand written reports, to prepare design and production reports, to make effective presentations, to give and receive clear and understandable instructions.
8) Awareness of the need for lifelong learning; access to knowledge, ability to follow developments in science and technology, and constant self-renewal.
9) Conform to ethical principles, and standards of professional and ethical responsibility; be informed about the standards used in engineering applications.
10) Awareness of applications in business, such as project management, risk management and change management; awareness of entrepreneurship, and innovation; information about sustainable development.
11) Information about the universal and social health, environmental and safety effects of engineering applications and the ways in which contemporary problems are reflected in the engineering field; awareness of the legal consequences of engineering solutions.

Course - Learning Outcome Relationship

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

	Program Outcomes	Level of Contribution
1)	Sufficient knowledge in mathematics, science and engineering related to their branches; and the ability to apply theoretical and practical knowledge in these areas to model and solve engineering problems.
2)	The ability to identify, formulate, and solve complex engineering problems; selecting and applying appropriate analysis and modeling methods for this purpose.
3)	The ability to design a complex system, process, device or product under realistic constraints and conditions to meet specific requirements; the ability to apply modern design methods for this purpose. (Realistic constraints and conditions include such issues as economy, environmental issues, sustainability, manufacturability, ethics, health, safety, social and political issues, according to the nature of design.)
4)	Ability to develop, select and use modern techniques and tools necessary for engineering applications; ability to use information technologies effectively.
5)	Ability to design experiments, conduct experiments, collect data, analyze and interpret results to examine engineering problems or discipline-specific research topics.
6)	The ability to work effectively in disciplinary and multidisciplinary teams; individual work skill.
7)	Effective communication skills in Turkish oral and written communication; at least one foreign language knowledge; ability to write effective reports and understand written reports, to prepare design and production reports, to make effective presentations, to give and receive clear and understandable instructions.
8)	Awareness of the need for lifelong learning; access to knowledge, ability to follow developments in science and technology, and constant self-renewal.
9)	Conform to ethical principles, and standards of professional and ethical responsibility; be informed about the standards used in engineering applications.
10)	Awareness of applications in business, such as project management, risk management and change management; awareness of entrepreneurship, and innovation; information about sustainable development.
11)	Information about the universal and social health, environmental and safety effects of engineering applications and the ways in which contemporary problems are reflected in the engineering field; awareness of the legal consequences of engineering solutions.

Learning Activity and Teaching Methods

Field Study
Expression
Brainstorming/ Six tihnking hats
Individual study and homework
Lesson
Group study and homework
Reading
Homework
Problem Solving
Q&A / Discussion
Case Study

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Homework
Observation

Assessment & Grading

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

Workload and ECTS Credit Grading

Activities	Number of Activities	Workload
Course Hours	15	45
Study Hours Out of Class	15	90
Midterms	1	12
Final	1	21
Total Workload		168