Faculty of Economics and Social Sciences
Department of Management

Code Name Level Year Semester
BUS 327 International Economics Undergraduate 3 Spring
Status Number of ECTS Credits Class Hours Per Week Total Hours Per Semester Language
Non-area Elective 5 0 English

Instructor Assistant Coordinator
Nataša TANDIR, Assist. Prof. Dr. Erkan ILGÜN, Assoc. Prof. Dr.
[email protected] no email

The purpose of this course is to help students understand the basics of international trade and finance and the effects of various international economic policies on domestic and world welfare. The course will highlight sources of comparative advantage, gains and losses from trade, the impact of trade on economic growth, and effects of trade policy interventions such as tariffs, quotas, voluntary export restraints, and export subsidies. International agreements on regional trade liberalization (such as EU and NAFTA) and on multilateral trade liberalization (WTO) will be also discussed. Topics on international finance will include balance of payments, determination of foreign exchange rates, and international monetary system.

  1. Introduction and overview
  2. Comparative advantage and the gains from trade
  3. Comparative advantage and factor endowments
  4. The theory of tariffs and quotas
  5. Why nations protect their industries
  6. International trade and labor and environmental standards
  7. Preparation for Mid term exam
  8. Mid term exam
  9. Trade and balance of payments
  10. Exchange rates and exchange systems
  11. The macroeconomcy in a global setting
  12. International financial crisis
  13. Economic characteristics of the continents
  14. Preparation for final exam

  1. International economic institutions since World War II
  2. Comparative advantage - case study
  3. Comparative advantage - case study
  4. Tariffs and quotas - case study
  5. Protection of industries in EU, Japan and USA

  1. International Labour Organization (ILO)
  2. Preparation for the Mid term exam
  3. Mid term exam
  4. Balance of payments data
  5. The largest market in the world - case study
  6. The macroeconomy in a global setting
  7. International financial crises - case study
  8. Regional issues in the global economy - case study
  9. Preparation for the final exam

  • Lectures
  • Presentation
  • Project
  • Assignments
  • Case Studies
Description (%)
Method Quantity Percentage (%)
Total: 0
Learning outcomes
  • Comparative advantage
  • Gains and loses from trade
  • Effects of trade policy interventions
  • International institutions
  • International agreements
  • Krugman, P., Obstfeld, M. (2009) International Economics Theory & Policy, Pearson International Edition, 8th edition

ECTS (Allocated based on student) WORKLOAD
Activities Quantity Duration (Hour) Total Work Load
Lecture (14 weeks x Lecture hours per week)450
Laboratory / Practice (14 weeks x Laboratory/Practice hours per week) 0
Midterm Examination (1 week) 10
Final Examination(1 week) 10
Preparation for Midterm Examination 0
Preparation for Final Examination50
Total Workload: 0
ECTS Credit (Total workload/25): 0