ISTANBUL TECHNICAL UNIVERSITY

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ITU-SUNY B.A. PROGRAM IN ECONOMICS
ECO 300 INTERNATIONAL FINANCE
Course Syllabus
Instructor
A.Prof. Ahmet Atıl Aşıcı
[email protected]
Office Room No: D603
Tel: 2931300 (2033)
Office Hours: Tuesday 1400-1630 or upon e-mail appointment
Course Description
The aim of this course is to develop an understanding of the working of the international finance.
International Finance expands students’ knowledge of global economies and markets in three
dimensions. First, it delivers insights and tools for analyzing markets in the global economy by
building rigorous economic theories and frameworks. Second, it provides tools and concepts for
analyzing the performance of national economies by focusing on the economic and political forces
that shape production, trade flows, capital flows, interest rates, exchange rates and other variables
that define the global economic landscape. Third, it applies the tools of international trade and
finance to broaden students’ perspectives on how globalization affects the performance and
strategies of nations.
The course will be taught in three parts. In the first part, we will cover topics related to exchange
rates and open-economy macroeconomics. In the second part, topics are related to the international
macroeconomic policy. In the final part, we will critically analyze the roots of the recent global crisis
and have a look at the IMF and World Bank supported programs in an historical context. The reading
materials for the last part will be provided in advance.
Course Requirements
Class attendance is mandatory. Students who are absent in more than 4 out of 14 weeks will
be given FF, and will not be allowed to take the final exam.
Course Evaluation
There will be four exams, two quizzes, a midterm and a final. The course grade will consist of
quizzes (30%); midterm exam (30%); and final exam (40%).
Textbook

Krugman, P., Obstfeld, M., Melitz, M. (2011) “International Economics: Theory and Policy”,
(9th Edition), Pearson Prentice Hall, New Jersey, USA.
Online Appendices:
http://wps.aw.com/aw_krgmnobstf_interecon_9/177/45434/11631194.cw/index.html
You can purchase either book at Pandora Bookstore (B.Parmakkapı sk. No:3 Beyoğlu; tel 212 245 16
67); or through their web site
http://www.pandora.com.tr/ara.aspx?type=2&text=krugman,&yazaradi=&resimli=1&sayfa=4
The old editions of the book are also available in the faculty library and the Mustafa İnan Library.
Course Outline
Week
Topic
Reading Assignment
1. Introduction
National Income Accounting and the Balance of Payments
(Ch. 13)
2. Exchange Rates and the Foreign Exchange Market
(Ch. 14)
3. Money, Interest Rates, and Exchange Rates
(Ch. 15)
4. Quiz 1; Price Levels and the Exchange Rate in the Long Run
(Ch. 16)
5. Output and the Exchange Rate in the Short Run
(Ch. 17)
6. Fixed Exchange Rates and Foreign Exchange
(Ch. 18)
7. Midterm Review
MIDTERM EXAM (exact date to be announced)
8. International Monetary Systems: An Historical Overview
( Ch. 19)
9. Optimum Currency Areas and the European Experience
(Ch. 20)
10. Financial Globalization: Opportunity and Crisis
(Ch. 21)
11. Developing Countries: Growth, Crisis, and Reform
(Ch. 22)
12. Quiz 2; Current Global Crisis and International Financial Architecture
13. Film Screening: Critical Look at the IMF-WB Supported Programs with special emphasis on
Turkey
14. Final Overview
FINAL EXAM
Have a good semester. 
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