Global Economy

Course Code:

ECON 342

Course Type:

Area Elective

P:

3

Application:

0

Credits:

3

ECTS:

5

Prerequisite Courses:

International Economics

Course Language:

İngilizce

Course Coordinator:

Natalya Ketenci

Courses given by:

Natalya Ketenci

Course Objectives:

The purpose is to provide explanations on international economic developments and related internatiponal problems. Beside presenting the theory, actual workings of the balance of payments accounts and of foreign exchange markets will be examined to show the practical relevance to students of international economics. This course intends to inform the students about the international trade and development policies around the world and some related problems.

Course Content:

The impact of globalization on national and regional economies, a critique of the present world trading system, macroeconomic policy problems in open economies, international financial crises, the economic integration of North America and Europe, trade and development policies in Latin America, export oriented growth policies in East Asia, and the impact of BRIC countries to the world economy are some important issues to be discussed.

Course Methodology:

1: Lecture, 2: Question-Answer, 3: Discussion, 12: Case Study

Course Evaluation Methods:

A: Testing, B: Experiment, C: Homework, Q: Quiz

Vertical Tabs

Course Learning Outcomes

Learning Outcomes	Program Learning Outcomes	Teaching Methods	Assessment Methods
A through examination of balance of payments	1, 2, 4, 6	1, 2, 3	A, Q
Studying foreign currency markets, exchange rates and their determination	1, 2, 4, 6	1, 2, 3	A, Q
Discussing exchange rate systems	1, 2, 4, 6	1, 2, 3	A, Q
Learning the price and income adjustment mechanism with flexible and fixed exchange rates	1, 2, 4, 6	1, 2, 3	A, Q
Investigating optimum currency ares in theory and practice	1, 2, 4, 6	1, 2, 3	A, Q
Discussing the international monetary system	1, 2, 4, 6	1, 2, 3	A, Q

Course Flow

COURSE CONTENT
Week	Topics	Study Materials
1	Open Economy Macroeconomics	Chapter 11
2	Open Economy Macroeconomics	Chapter 11
3	International Financial Crises	Chapter 12
4	International Financial Crises	Chapter 12
5	The United States in the World Economy	Chapter 13
6	The United States in the World Economy	Chapter 13
7	The European Union	Chapter 14
8	The European Union	Chapter 14
9	Mid-term Exam
10	Trade and Policy Reforms in Latin America	Chapter 15
11	Trade and Policy Reforms in Latin America	Chapter 15
12	China and India in the World Economy	Chapter 17
13	China and India in the World Economy	Chapter 17
14	Final Review

Recommended Sources

Textbook		James Gerber, International Economics, Pearson, 2018 (7th edition)
Additional Resources		P.R. Krugman, M. Obstfeld and M. Melitz, International Trade Theory & Policy, 2019, Pearson, 11th edition.

Material Sharing

Documents		Lecture notes
Assignments		End of Chapter problems and Homework Assignments
Exams		Exam questions

Assessment

IN-TERM STUDIES	NUMBER	PERCENTAGE
Mid-terms	1	90
Quizzes (attendance, presentation, etc.)	2	10
Assignments	0	0
	Total	100
Contribution of Final Examination to Overall Grade		45
Contribution of In-Term Studies to Overall Grade		55
	Total	100
Course Category

Course’s Contribution to Program

COURSE'S CONTRIBUTION TO PROGRAM
No	Program Learning Outcomes	Contribution
		1	2	3	4	5
1	Students can keep themselves informed and analyze the current economic development in Turkey and in the world from an international political economy perspective paying a particular attention to the interaction of the Turkish economy with the global economy.					X
2	Being aware of the development and accumulation of economic thought, students can master qualitative and quantitative knowledge and methods to test various economic theories that can be applied to the analysis of the current economic problems.				X
3	Students can use statistical and econometric analyses by learning how to use information technologies that have validity and widespread use in the field of economics.
4	By learning how to learn in the field of economics, students can research and work individually or as a team using the Turkish and English academic resources.					X
5	Being aware of the ethical values, students know the individual, social and ecological dimensions of the concept of social responsibility and can prove that they understand the active citizenship duty that falls upon them within this framework.
6	Students can clearly express, present and share their knowledge, the outcomes of their studies, their ideas and comments to people in their field or other disciplines/units using the necessary data, in national and international academic and professional environments, in Turkish or English.					X
7	Students can show that understanding the universality of social rights and the concepts of social justice, which form the basis of the modern societies, and the importance of scientific perspective, which is necessary to the social development and global competitiveness.

ECTS

Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Course Duration (Including the Exam Week: 15 x total course hours)	15	3	45
Hours for off-the-classroom study (Pre-study, practice)	15	5	75
Mid-terms	1	1,5	1,5
Quizzes (attendance, presentation, etc.)	2	0,5	1
Assignments	0	0	0
Final Examination	0	0	0
Total Work Load			122,5
Total Work Load / 25 (s)			4,9
ECTS Credit of the Course			5

None

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