ECON354 INTRODUCT. TO INTERNATIONAL ECONOMICS II
| Course Code: | 3110354 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 6.5 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Prof.Dr. ELİF AKBOSTANCI ÖZKAZANÇ |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
This course is designed to enable the students to understand
- external balance (Balance of Payments)
- foreign exchange markets (spot, forward and futures markets)
- relationship between foreign exchange markets and international financial markets
- exchange rate determination models (monetary, portfolio balance and Dornbusch's overshooting models)
- macroeconomic problems of an open economy under different exchange rate regimes (Mundell-Fleming framework)
Course Content
Balance of payments; disequilibrium and adjustment; international monetary problems; trade and economic development; international economic integration.
Course Learning Outcomes
Upon completion of this course students are expected
- to evaluate the foreign exchange market dynamics
- to understand the link between the developments in the international financial markets and the fluctuations in the foreign exchange rate
- the grasp the relationship between macroeconomic policies (monetary and fiscal) and the financial capital flows
- the grasp the relationship between macroeconomic policies (monetary and fiscal) and the exchange rate regimes
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Use and develop skillfully economic concepts and theories, analyse economic behaviour and events by conceptualizing and evaluating via scientific methods (Has skills regarding theory and analysis) | ✔ | |||
| 2 | Evaluate how economic policies affect economic performance and how economic interest, relationship and interaction affect policy decisions (Knowledgeable about economic policies) | ✔ | |||
| 3 | Design and carry out studies regarding data collection, analysis and evaluation, that can be used in decision processes at every level (individual, firm, government, etc.)(Knowledgeable about quantitative and qualitative methods) | ✔ | |||
| 4 | Evaluate systematically and compare economic knowledge, phenomena and methodology; Develop critical, creative/innovative approaches to these (Critical, creative, innovative) | ✔ | |||
| 5 | Understand current economic phenomena and relevant political developments using information and data from various resources and provide multifaceted explanations (Concerned about current events) | ✔ | |||
| 6 | Follow developments in economic theory and methods; Be open to continuous learning (Open to continuous learning) | ✔ | |||
| 7 | Have skills to work independently and in a team (Individual and teamwork) | ✔ | |||
| 8 | Approach critically to economic and societal events and problems while being sensitive to social problems; Produce solutions to these problems by scientific approach; Share own thoughts (Sensitive to social problems) | ✔ | |||
| 9 | Communicate clearly, effectively and fluently (in English and Turkish) verbally and in writing, utilizing new technologies (Has effective communication skills) | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution