Economics of the European Union
Travel Dates: tba
Instructors: Volkan Cetinkaya, Rod Erfani
Number of Students Enrolled: tba
Location: Turkey

Course Objectives

This course is intended to provide students with an introduction to theory and policy of international economic relations so they can better understand international business activities and the economic environment in which international businesses compete. Selected international economic issues, policies, and problems will be examined. Topics include patterns of international trade, trade barriers, foreign direct investment, economic development, and international financial relations.

We will read and discuss a selection of literature on the development of the European Union (EU), enlargement of the EU, and related topics. Emphasis will be placed upon the European Monetary Union (EMU) and on main policy issues -- the campaign to create the common currency, the Euro, within the countries of the EU. The course format will consist of a combination of lectures, videos, presentations, and guest speakers. This course includes a foreign field experience with on-site presentations and discussions. There will be several field study visits to business and cultural sites located in Istanbul and Ankara. We will be visiting local and foreign owned manufacturing/service companies. We will also speak with consulting groups offering services to these companies.

The course format will include a combination of lectures, presentations, site visits, and guest speakers. The course will be conducted, in part, in Turkey. There will be several field study visits to commercial, governmental, and cultural sites within the country, which will include local and foreign owned manufacturing/service companies.

Course Materials and Resources

I. Articles and Class Handouts
Reading materials and handouts will be made available as we progress through class material.

II. Travel Guides: Turkey
Students are strongly recommended to purchase and study one of the popular travel guides to Turkey before departure.

Couse Schedule

Day 1 Leave Lexington
Day 2 Arrive in Istanbul, Turkey,
Guided walking tour of City of Istanbul: 1- Hagia Sophi, 2- Blue Mosque
Day 3 Visit Bosporus University
1-Lecture by Professor Sevket Pamuk. "The Economic History of Turkey"
2-Lecture by Professor Refik Erzan. "European Union and Turkey"
Day 4 1- Visit Akbank
Akbank ranked as Turkey's most valuable bank having the most profitable banking operations among privately owned banks in Turkey.
Discuss how Turkey handled the banking crisis in 2001 and what we can learn from their experience and how it relates to the current global financial crisis.
2- Bosporus ferry tour between the Asian and European sides of Istanbul.
Day 5 1- Visit Robert College of Istanbul-an American high school which is one of the most prestigious schools of Turkey (founded 1863).
2- Visit the Dolmabahce Palace
Day 6 Sightseeing: 1- Topkapi Palace, 2- Basilica Cistern
Day 7 Free weekend
Day 8 Arrive in Ankara-the capital of Turkey
Sightseeing: 1- Independence War Museum, 2- Roman Bath, 3- Ankara Citadel, 4- Museum of Anatolian Civilizations
Day 9 1- Visit the Central Bank of Turkey.
     Lecture by Dr. Erdem Basci, Vice President. "Stabilization of Turkey's Economy:
     Is Turkey's Economy ready to be a member of European Union?"
2- Visit The Grand National Assembly of Turkey (The Congress).
     Lecture by Mr. Egeman Bagis, Congressman-Minister for EU Affairs and Chief Negotiator
Day 10 Arrive in Cappadocia
Visit the natural wonders and churches in caves created by early Christians.
Day 11 Return to Ankara.
Visit the Kocatepe Mosque and Atatürk Mausoleum.
Day 12 1- Visit the U.S. Embassy.
     Lecture by Ambassador James F. Jeffrey. "Turkey's importance for the USA and EU"
2- Visit Bilkent University.
     Lecture by Professor Talat Halman. "Turkey and European Relations since 1299- Cultural Exchanges"
Day 12 Day trip to the city of Konya to visit the tomb of the great Sufi Poet, Rumi and the al- Rumi Mosque.
Day 13 Free weekend
Day 14 Return to Lexington