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.
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