Iğdır University Lifelong Learning Programme

Description of Individual Course Units

Course Unit Code	Course Unit Title	Type of Course Unit	Year of Study	Semester	Number of ECTS Credits
İKT-23-117	ULUSLARARASI PARASAL İKTİSAT	Elective	1	1	6

Level of Course Unit

Second Cycle

Objectives of the Course

Objective of this course is to show how the world economy works, international economic relations on national economy and effect to their national economics.

Name of Lecturer(s)

Learning Outcomes

1	define general concepts about international economics
2	explain general frame of international economic system
3	compare multilateralism and regionalism
4	analyze effects of process of multilateralism and regionalism on policies of foreign trade
5	connect relations among trade policies, multilateralism and regionalism.

Mode of Delivery

Daytime Class

Prerequisites and co-requisities

None

Recommended Optional Programme Components

None

Course Contents

The Balance of Payment, Analyses of Exchange Market, Futures Markets, Theories of Exchange Rate, Balancing the Payment, International Private Financial Capital Flows, Foreign Direct Investment, International Monetary System, International Monetary Fund, Macroeconomic Policies in Open Economies.

Weekly Detailed Course Contents

Week	Theoretical	Practice	Laboratory
1	The Balance of Payments, Basic Account Groups, Balance of Payments Deficit and Balance of Payments Surplus, Causes of External Deficit, Policies against Balance of Payments. Deficits.
2	Exchange Markets, Exchange Market Actors, Exchange Demand and Supply, Exchange Market Operations, Exchange Rate, Exchange Speculation, Retail and Wholesale Exchange Market, Convertibility, Functions of Exchange Market.
3	Future Exchange Transactions, Forward Transactions, Foreign Exchange Futures, Foreign Exchange Options, Foreign Exchange Swaps, Speculation in Future Exchange Markets, Interest Arbitrage, Fisher Effect.
4	Theories of Exchange Rate, Foreign Trade Flows Approach, Purchasing Power Parity Approach.
5	Monetarist Approach and Exchange Rate, Portfolio-Balance Approach, Exchange Rate Overshooting.
6	Balance of Payments Adjustment, Price Adjustment Mechanisms, Automatic Adjusment in Freely-Fluctuating Exchange Rate System, Exchange Market Equilibration: Marshall-Lerner Condition, Exchange Rate Pass-through and J Curve.
7	Price Change in Fixed Exchange Rate System and Devaluation, Price-Gold Speice-Flow Mechanism, National Income Change and Other Mechanisms, Gross Domestic Product, Open Economies, Export and Import, Open Economy Multiplier, Autonomous Expenditures and External Balance, External Balance by Automatic National Income Changes.
8	Automatic Adjustment by Inretest Rate Changes, Adjusment Policies, Balance of Payment Adjustment and Monetarist Model.
9	International Private Financial Flows, Monetary and Capital Markets, Globalization and Capital Flows, International Monetary Markets, International Capital Markets
10	Foreign Direct Investment (FDI), Portfolio Investment, Causes of FDI, FDI Theories, FDI in World and Turkey.
11	International Monetary System, Exchange Rate Systems, Pegged Exchange Rate System, Gold Standard, Adjustable Peg System, Floating (Flexible) Exchange Rate System, Advantages and Disadvantages of Exchange Rate System
12	A History of the International Monetary System, Gold Standard Period, Bretton-Woods System, Development after Bretton-Woods, Today International Monetary Systems.
13	International Monetary Fund (IMF), Credits of IMF, Special Drawing Rights, International Liquidity, Reform Projects in the International Monetary System
14	Macroeconomic Policy Analyses in Open Economies, Internal and External Balance, Effectiveness of Monetary and Fiscal Policy on Internal and External Balance: Mundell-Fleming Model, Monetary and Fiscal Policy and Balance of Payments, Internal and External Balance under Pegged Exchange Rate System, Internal and External Balance under Floating (Flexible) Exchange Rate System