| Course Name | Technological Advances in International Trade and Finance |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ITF 437 | Fall/Spring | 3 | 0 | 3 | 5 |
| Prerequisites |
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| Course Language | English | ||||||||
| Course Type | Elective | ||||||||
| Course Level | First Cycle | ||||||||
| Mode of Delivery | face to face | ||||||||
| Teaching Methods and Techniques of the Course | Lecturing / Presentation | ||||||||
| Course Coordinator | |||||||||
| Course Lecturer(s) | |||||||||
| Assistant(s) | |||||||||
| Course Objectives | Technological advances disrupt the way consumers, businesses, organizations and industries operate. These innovations bring changes either by creating a new market or by entering an established market and radically changing it. The main objective of this course is to provide students with the basic and intermediate level of knowledge on technological advances and help them explore how international trade and finance is re-shaped by these advances |
| Learning Outcomes | The students who succeeded in this course;
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| Course Description | This course covers the up-to-date technological advances and various interfaces via which they interact with international trade and finance. The course is supported with case studies, working papers and reports of important organizations that shape global trade and finance. |
| Related Sustainable Development Goals | |
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| Core Courses | |
| Major Area Courses | X | |
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Introduction | |
| 2 | Emerging and Disruptive Innovations: Advances altering life, business, and the global economy | P. Armstrong. “Disruptive Technologies: Understand, Evaluate, Respond”, Kogan Page Publishers. 2017, 1st edition, 1-15. |
| 3 | Artificial Intelligence and Machine Learning | Microsoft Azure. “AI vs ML” https://azure.microsoft.com/en-us/overview/artificial-intelligence-ai-vs-machine-learning/#introduction Richardson, D. (2021). “What is AI/ML and why does it matter to your business?” https://www.redhat.com/en/blog/what-aiml-and-why-does-it-matter-your-business |
| 4 | AI and ML utilization in trade and finance architecture | Cambridge Centre for Alternative Finance & World Economic Forum, Transforming Paradigms: A Global AI in Financial Services Survey, (2020) https://assets.ey.com/content/dam/ey-sites/ey-com/en_gl/topics/innovation/ey-why-a-i-will-redefine-the-financial-services-industry-in-two-years.pdf |
| 5 | Blockchain technology | IBM. “What is blockchain technology?” https://www.ibm.com/topics/what-is-blockchain Deloitte. “Blockchain explained... in under 100 words” https://www2.deloitte.com/ch/en/pages/strategy-operations/articles/blockchain-explained.html Goldman Sachs. “Blockchain: The New Technology of Trust” https://www.goldmansachs.com/insights/pages/blockchain/ |
| 6 | Impacts of blockchain technology on global trade and finance utilization | WEF, “How COVID-19 accelerated the shift towards TradeTech” https://www.weforum.org/agenda/2021/01/how-covid-19-has-accelerated-the-shift-towards-tradetech/ Mercatus Research, “Can Blockchain Technology Facilitate International Trade?” https://www.mercatus.org/system/files/mcdaniel-blockchain-trade-mercatus-research-v2.pdf WTO, “Can Blockchain revolutionize international trade?” https://www.wto.org/english/res_e/booksp_e/blockchainrev18_e.pdf |
| 7 | Extended Reality (XR): Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) and re-designing global trade architecture with XR | Farshid, M., Paschen, J., Eriksson, T., & Kietzmann, J. (2018). Go boldly! Explore augmented reality (AR), virtual reality (VR), and mixed reality (MR) for business. Business Horizons, 61(5), 657-663. |
| 8 | Building blocks of disruptive innovations: Cloud, 5G, IoT | P. Armstrong. “Disruptive Technologies: Understand, Evaluate, Respond”, Kogan Page Publishers. 2017, 1st edition, pp. 1-15. |
| 9 | Data Policy and Cybersecurity | World Economic Forum / Strategic Intelligence: https://intelligence.weforum.org/ |
| 10 | Ethics Governance | MIT Media Lab. Moral Machine: https://www.moralmachine.net/ Anna Lauren Hoffmann (2019) Where fairness fails: data, algorithms, and the limits of antidiscrimination discourse, Information, Communication & Society, 22:7, 900-915 Calders, Toon & Zliobaite, Indre. (2013). Why Unbiased Computational Processes Can Lead to Discriminative Decision Procedures. 10.1007/978-3-642-30487-3_3. |
| 11 | Tech for good | McKinsey. “‘Tech for Good’: Using technology to smooth disruption and improve well-being” https://www.mckinsey.com/featured-insights/future-of-work/tech-for-good-using-technology-to-smooth-disruption-and-improve-well-being |
| 12 | Presentations | |
| 13 | Presentations | |
| 14 | Review of Semester | |
| 15 | Review of Semester | |
| 16 | Final Exam |
| Course Notes/Textbooks | P. Armstrong. “Disruptive Technologies: Understand, Evaluate, Respond”, Kogan Page Publishers. 2017, 1st edition. ISBN-13: 978-0749477288, ISBN-10: 0749477288 |
| Suggested Readings/Materials |
“Big Little Breakthroughs: How Small, Everyday Innovations Drive Oversized Results”. Post Hill Press. 2021, 1st edition. ISBN 10: 1642936774 ISBN 13: 9781642936773.
World Economic Forum/Strategic Intelligence: https://intelligence.weforum.org/
AI Ethicist: https://www.aiethicist.org/
IMF. Technological Progress, Artificial Intelligence, and Inclusive Growth. https://www.imf.org/en/Publications/WP/Issues/2021/06/11/Technological-Progress-Artificial-Intelligence-and-Inclusive-Growth-460695
World Economic Forum/Emerging Technologies https://www.weforum.org/topics/emerging-technologies |
| Semester Activities | Number | Weigthing |
| Participation | 1 | 20 |
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | 1 | 20 |
| Project | 1 | 20 |
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | ||
| Final Exam | 1 | 40 |
| Total |
| Weighting of Semester Activities on the Final Grade | 3 | 60 |
| Weighting of End-of-Semester Activities on the Final Grade | 1 | 40 |
| Total |
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Course Hours (Including exam week: 16 x total hours) | 16 | 3 | 48 |
| Laboratory / Application Hours (Including exam week: 16 x total hours) | 16 | ||
| Study Hours Out of Class | 14 | 1.5 | 21 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | |||
| Presentation / Jury | 1 | 20 | |
| Project | 1 | 22 | |
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | |||
| Final Exams | 1 | 34 | |
| Total | 145 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to identify and analyze problems in the field of trade and finance, and to develop solutions. | X | ||||
| 2 | To be able to use the theoretical and practical knowledge gained in the field of International Trade and Finance. | |||||
| 3 | To be able to analyze the developments in global markets by using critical thinking skills. | X | ||||
| 4 | To be able to analyze and interpret data in the field of finance, commerce and economics by using information technologies effectively. | |||||
| 5 | To be able to acquire knowledge about the legal regulations and practices in the field. | |||||
| 6 | To be able to foresee and define the risks that could be encountered in the field of trade and finance and to take decisions to manage such risks. | X | ||||
| 7 | To be able to acquire and use verbal and numerical skills necessary for the nature of the International Trade and Finance program. | |||||
| 8 | To be able to obtain, synthesize and report the information related to the fields of trade and finance. | |||||
| 9 | To be able to contribute to the solution of problems as individual, team member or leader. | |||||
| 10 | To be able to evaluate the issues related to the field with an ethical perspective and social sensitivity. | X | ||||
| 11 | To be able to collect data in the areas of International Trade and Finance and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1). | |||||
| 12 | To be able to speak a second foreign at a medium level of fluency efficiently. | |||||
| 13 | To be able to relate the knowledge accumulated throughout human history to their field of expertise. | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
