ECON353 INTRODUCT.TO INTERNATIONAL ECONOMICS I
| Course Code: | 3110353 |
| 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. EROL TAYMAZ |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
The course is designed to enable the students to understand
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why countries trade with each other,
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the economic effects of trade,
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the determinants of the the value and the volume of trade, and
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the rationale for, and tools and effects of public policy (“trade policy”) that attempts to change the pattern of trade.
Course Content
The classical theory of foreign trade and its extensions; comparative costs; factor proportions and comparative advantages; further developments and empirical verifications; factor-price equalization, income distribution and gains from trade tariff theory and trade policy.
Course Learning Outcomes
Students will learn basic assumptions, structure and predictions of
- the Classical theory
- specific factors model
- Neo-classical theory (the Heckscher-Ohlin model)
- new trade theories (base on economies of scale and product differentioan).
Students will understand the rationale for, tools of, and effects of trade policies.
Students will be able to analyze the pattern of international trade and the effects of trade policies by using the theories mentioned above.