ITRD301 International Trade ModelsIstanbul Okan UniversityDegree Programs Arts and Culture ManagementGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational Qualifications
Arts and Culture Management
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?: No
Type of course: University / Foreign Language
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)  1- Has knowledge about art culture and aesthetic issues. 2-Has knowledge about art history which is specific to the field of art concerned. 3-Knowledge of art and design materials. 4-Has knowledge about art and design methods and techniques. 5-Has knowledge about legal regulations and procedures in the field of art concerned. 6-Has knowledge about the interdisciplinary interaction with which the related art field is related. 7-Has knowledge about research methods. 8- Has knowledge about methods of artistic criticism. 9-Knowledge of art and science ethics.
2) 1-Provides theory and application integrity. 2. Uses methods and techniques related to the field of art. 3-Evaluates the interaction of the subdisciplines within the field of art. 4-Based on the analysis has the ability to interpret. 5-Develops multi-dimensional perception, thinking, designing, practicing ability. 6-Concrete sensory perception.
3) 1-Works alone, independently and / or within the group, compatible and productive. 2- It takes place actively in project processes. 3-Share the original works about the field with the society and evaluate the results.
4) To be able to evaluate advanced knowledge and skills in the field with a critical approach, - Being able to identify and learn learning needs. - Being able to develop a positive attitude about learning life.
5) To be able to inform related persons and institutions about issues related to the field; to be able to transfer ideas and suggestions for solutions to problems in writing and verbally. - To share ideas and suggestions for solutions to problems with experts and non-experts by supporting quantitative and qualitative data. -To organize projects and activities for the social environment with social responsibility awareness and apply them. - Can use a foreign language at least in the European Language Portfolio B1 General Level to monitor the information in the field and communicate with colleagues. - To be able to use information and communication technologies with the computer software at least at the level of European Computer Use License Advanced level required by the field.
6) - Be able to carry out an advanced study independently of the field. - Being able to take responsibility as individuals and team members to solve complex and unforeseen problems encountered in field related applications. - Planning and managing activities for the development of employees under their responsibility in a project framework.
7) - To comply with social, scientific, cultural and ethical values in the process of collecting, interpreting, implementing and announcing results related to the field. - The universality of social rights, social justice, quality culture and protection of cultural values and having adequate consciousness about environmental protection, occupational health and safety issues.
8) Has knowledge of artistic criticism methods.

Course - Learning Outcome Relationship

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1)  1- Has knowledge about art culture and aesthetic issues. 2-Has knowledge about art history which is specific to the field of art concerned. 3-Knowledge of art and design materials. 4-Has knowledge about art and design methods and techniques. 5-Has knowledge about legal regulations and procedures in the field of art concerned. 6-Has knowledge about the interdisciplinary interaction with which the related art field is related. 7-Has knowledge about research methods. 8- Has knowledge about methods of artistic criticism. 9-Knowledge of art and science ethics. 2
2) 1-Provides theory and application integrity. 2. Uses methods and techniques related to the field of art. 3-Evaluates the interaction of the subdisciplines within the field of art. 4-Based on the analysis has the ability to interpret. 5-Develops multi-dimensional perception, thinking, designing, practicing ability. 6-Concrete sensory perception. 4
3) 1-Works alone, independently and / or within the group, compatible and productive. 2- It takes place actively in project processes. 3-Share the original works about the field with the society and evaluate the results. 4
4) To be able to evaluate advanced knowledge and skills in the field with a critical approach, - Being able to identify and learn learning needs. - Being able to develop a positive attitude about learning life. 3
5) To be able to inform related persons and institutions about issues related to the field; to be able to transfer ideas and suggestions for solutions to problems in writing and verbally. - To share ideas and suggestions for solutions to problems with experts and non-experts by supporting quantitative and qualitative data. -To organize projects and activities for the social environment with social responsibility awareness and apply them. - Can use a foreign language at least in the European Language Portfolio B1 General Level to monitor the information in the field and communicate with colleagues. - To be able to use information and communication technologies with the computer software at least at the level of European Computer Use License Advanced level required by the field. 3
6) - Be able to carry out an advanced study independently of the field. - Being able to take responsibility as individuals and team members to solve complex and unforeseen problems encountered in field related applications. - Planning and managing activities for the development of employees under their responsibility in a project framework. 2
7) - To comply with social, scientific, cultural and ethical values in the process of collecting, interpreting, implementing and announcing results related to the field. - The universality of social rights, social justice, quality culture and protection of cultural values and having adequate consciousness about environmental protection, occupational health and safety issues. 3
8) Has knowledge of artistic criticism methods. 3

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