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 Outcomes0123
1Use 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)
2Evaluate how economic policies affect economic performance and how economic interest, relationship and interaction affect policy decisions (Knowledgeable about economic policies)
3Design 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)
4Evaluate systematically and compare economic knowledge, phenomena and methodology; Develop critical, creative/innovative approaches to these (Critical, creative, innovative)
5Understand current economic phenomena and relevant political developments using information and data from various resources and provide multifaceted explanations (Concerned about current events)
6Follow developments in economic theory and methods; Be open to continuous learning (Open to continuous learning)
7Have skills to work independently and in a team (Individual and teamwork)
8Approach 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)
9Communicate 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