The economic world is “globalizing” –integrating its markets for goods, services, finances and labor—at a faster pace than ever before. How will these changes affect our day-to-day lives? This course will approach the phenomenon of globalization with the theories and tools of economic theory: how free trade, free movement of factors of production and barriers to trade operate, and what their costs and benefits are; how integrated currency and financial markets operate; how domestic economic policy can be conducted in an open global environment; and how immigration flows affect national economies. Other issues to be addressed will be global inequalities, the environmental externalities of globalization, and the sustainability of current patterns of production. The course will explore how these economic forces operate in countries of different characteristics, and what their implications are for income levels, equality, production patterns and global prosperity.
Field WorkCountry: Turkey
Day: 1 - Tuesday, 29 September
International Economics students will explore in Istanbul the complexity of Turkey's long, difficult and controversial bid to join the European Union. They will discuss the issues with experts at Istanbul's Aydin University and the IKV Economic Development Foundation, and with peers who are participating in Europe's Erasmus exchange program. Academic objectives:
- To see the role that trade has played in Turkey's economic development
- To understand Turkey´s links with Europe as well as its unique identity
- To understand the pros and cons of Turkish membership in the European Union, from social, economic and political perspectives
- To learn how the protracted debate over membership within the EU has affected Turkish support for joining the EU