INTERNATIONAL ECONOMICS II
- Course
- ECON354 - INTERNATIONAL ECONOMICS II
- Department
- Economics - English - Undergraduate
- Course Type
- Course
- Status
- Required
- Language
- English
- Credit
- 3
- ECTS
- 6
- T+P+L
- 3 + 0 + 0
- Course Coordinator(s)
- -
- Prerequisite
- -
- Keywords
Course Description
The objective of this course is to provide students with a comprehensive understanding of key concepts and frameworks in international economics. It aims to deepen students' grasp of international trade theory, including the gains from trade, comparative advantage, and the effects of trade policy instruments such as tariffs and quotas. Students will also develop a solid foundation in national income accounting and the balance of payments, enabling them to analyze a country's economic transactions with the rest of the world. The course explores the dynamics of exchange rates, examining how they are determined and how they interact with money markets and interest rates. It further covers the relationship between price levels and exchange rates in the long run, and the impact of exchange rates on output and economic activity in the short run. In addition, students will gain a deeper understanding of the international monetary system, its evolution, and current issues, preparing them for informed analysis of global economic events and policy debates.
INTERNATIONAL ECONOMICS II
Evaluation Tools (Active Term)
No evaluation items have been defined.
Course outcomes
No course outcomes have been defined yet.
Course Syllabus
| Week | Topic |
|---|---|
| Week 1 | Introduction |
| Week 2 | World Trade: An Overview |
| Week 3 | Labour Productivity and Comparative Advantage: The Ricardian Model |
| Week 4 | Labour Productivity and Comparative Advantage: The Ricardian Model |
| Week 5 | Resources, Comparative Advantage and Income Distribution |
| Week 6 | Resources, Comparative Advantage and Income Distribution |
| Week 7 | The Standard Trade Model |
| Week 8 | Midterm Exam |
| Week 9 | The Standard Trade Model |
| Week 10 | The Standard Trade Model (cont.) |
| Week 11 | National Income Accounting and the Balance of Payments |
| Week 12 | National Income Accounting and the Balance of Payments (cont.) |
| Week 13 | Exchage Rates and Open-Economy Macroeconomics |
| Week 14 | Exchage Rates and Open-Economy Macroeconomics (cont.) |
| Week 15 | Exchage Rates and Open-Economy Macroeconomics (cont.) |
Reference Books & Course Materials
- 01 1. Paul R. Krugman and Maurice Obstfeld, International Economics: Theory and Policy, 10th Edition, Pearson, 2017.
- 02 2. Dominick Salvatore, International Economics, 11th Edition, John Wiley & Sons Inc., 2013.
Learning Outcomes
No learning outcomes have been defined.
Program Outcomes
- P01 PO1: Engaged in insightful thinking leading to self-learning and lifelong learning.
- P02 PO2: Established a general knowledge of economics sufficient to work independently through specific learned techniques generated via individual efforts and study.
- P03 PO3: Reached the required knowledge and skills to understand social, economic and legal issues both within national, international and global contexts and apply theoretical knowledge of economics to practice.
- P04 PO4: Adopted the ability to critically evaluate, analyze and interpret information gathered through the use of related statistical software programs to suggest creative solutions for economic problems and make relevant economic decisions.
- P05 PO5: Been aware of gathering and analyzing data through the application of appropriate technological tools in an ethical and safe manner in order to generate economic decisions and policy suggestions.
- P06 PO6: Been equipped with conceptual and analytical skills essential for team-working and collaborations for economic decision making for a variety of economic concepts in national and global environment.
- P07 PO7: Endowed with both oral and written communication skills within the economic field to effectively study and work in an international environment
- P08 PO8: Been able to transfer theoretical knowledge to real life economic environment: to generate policies for microeconomic and macroeconomic problems faced by individuals, firms and governments at national, international and global context.
- P09 PO9: Developed an ability to apply economic analysis to everyday problems in real world through the development of ethical perspectives and social responsibilities at work and in personal life.
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