This course examines the economic rationale for trade among nations and its consequences for the people of the nations involved as well as its relation with the macroeconomic fundamentals and macroeconomic perspectives of an open economy. Topics to be considered include comparative advantage, gains from trade, traditional and recent arguments for protection, determination of exchange rates, monetary policy in an open economy and international capital markets. In addition, the course considers the effects of trade and other policies on economic growth and development. Emphasis is given to the principle analytical concepts and results relevant to the special problems of developing nations. Pre-Req: ECN 301 or equivalent intermediate microeconomics course. (ECO 3401)
Department: Economics
Location: Istanbul
Credits: 3