BAHÇEŞEHİR UNIVERSITY BİLGİ PAKETİ / DERS KATALOĞU
| ECONOMICS | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
Course Introduction and Application Information
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| ECO2212 | Macroeconomics | Spring | 3 | 0 | 3 | 8 |
Basic information
| Language of instruction: | English |
| Type of course: | Must Course |
| Course Level: | Bachelor’s Degree (First Cycle) |
| Mode of Delivery: | Hybrid |
| Course Coordinator : | Assoc. Prof. KAAN İRFAN ÖĞÜT |
| Course Lecturer(s): |
Assoc. Prof. BÜLENT ANIL Prof. Dr. NECİP ÇAKIR Assoc. Prof. ÇAĞLAR YURTSEVEN |
| Recommended Optional Program Components: | None |
| Course Objectives: | To provide students with a comprehensive understanding of the key concepts and principles of macroeconomics |
Learning Outcomes
|
The students who have succeeded in this course; 1. The World Economy and National Income Accounts 2. Analysis of Aggregate Demand and Liquidity Preference 3. Economic Policy in the Short Run 4. Labour Market, Wages and Unemployment 5. Macroeconomics in the Medium Run 6. Phillips Curve, Inflation and Unemployment 7. Quantity Theory of Money and Disinflation 8. Open Economy Macroeconomics 9. Economic Policies in Open Economies 10. Exchange Rate Determination |
Course Content
| Key macroeconomic issues Aggregate demand and the Keynesian cross Theories of liquidity preference The IS-LM model, and the impact of fiscal andmonetary policy in the short-run Determination of employment and real wages in the labour market. Models of aggregate supply and the impact of fiscal and monetary policy in medium and longrun. Keynesian vs classical economics Short and long-run Phillips curves. Stagflation The sacrifice ratio, Quantity Theory of Money The facts of growth. Real interest rates, present value, bond and stock price determination Wealth effects, models of Modigliano and Friedman IS-LM with expectations. Policy effects Purchasing Power Parity, the interest parity condition, Openness and the Keynesian cross model, Openness, money markets and the IS-LM model. Policy effects Fixed and flexible exchange-rate regimes and impact on policy. Fiscal rules: Balanced budget, Golden Rule, Stability and Growth Pact Inflation-targetting, Central Bank independence |
Weekly Detailed Course Contents
| Week | Subject | Related Preparation |
| 1) | Key macroeconomic issues | |
| 2) | Aggregate demand and the Keynesian cross | |
| 3) | Theories of liquidity preference | |
| 4) | The IS-LM model, and the impact of fiscal and monetary policy in the short-run | |
| 5) | Determination of employment and real wages in the labour market. | |
| 6) | Models of aggregate supply and the impact of fiscal and monetary policy in medium and longrun. Keynesian vs classical economics | |
| 7) | Short and long-run Phillips curves. Stagflation | |
| 8) | The sacrifice ratio, Quantity Theory of Money | |
| 9) | The facts of growth | |
| 10) | Real interest rates, present value, bond and stock price determination | |
| 11) | Wealth effects, models of Modigliano and Friedman | |
| 12) | IS-LM with expectations. Policy effects | |
| 13) | Purchasing Power Parity, the interest parity condition, Openness and the Keynesian cross model, Openness, money markets and the IS-LM model. Policy effects. Fixed and flexible exchange-rate regimes and impact on policy. | |
| 14) | Fiscal rules: Balanced budget, Golden Rule, Stability and Growth Pact Inflation-targetting, Central Bank independence |
Sources
| Course Notes / Textbooks: | O.Blanchard “Macroeconomics”, Prentice Hall, 5th Edition 2011 |
| References: |
Evaluation System
| Semester Requirements | Number of Activities | Level of Contribution |
| Midterms | 1 | % 40 |
| Final | 1 | % 60 |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 40 | |
| PERCENTAGE OF FINAL WORK | % 60 | |
| Total | % 100 | |
ECTS / Workload Table
| Activities | Number of Activities | Duration (Hours) | Workload |
| Course Hours | 14 | 3 | 42 |
| Study Hours Out of Class | 14 | 6 | 84 |
| Midterms | 1 | 30 | 30 |
| Final | 1 | 40 | 40 |
| Total Workload | 196 | ||
Contribution of Learning Outcomes to Programme Outcomes
| No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | As a world citizen, she is aware of global economic, political, social and ecological developments and trends. | 3 |
| 2) | He/she is equipped to closely follow the technological progress required by global and local dynamics and to continue learning. | 3 |
| 3) | Absorbs basic economic principles and analysis methods and uses them to evaluate daily events. | 5 |
| 4) | Uses quantitative and statistical tools to identify economic problems, analyze them, and share their findings with relevant stakeholders. | 5 |
| 5) | Understands the decision-making stages of economic units under existing constraints and incentives, examines the interactions and possible future effects of these decisions. | 5 |
| 6) | Comprehends new ways of doing business using digital technologies. and new market structures. | 3 |
| 7) | Takes critical approach to economic and social problems and develops analytical solutions. | 2 |
| 8) | Has the necessary mathematical equipment to produce analytical solutions and use quantitative research methods. | 3 |
| 9) | In the works he/she contributes, observes individual and social welfare together and with an ethical perspective. | 3 |
| 10) | Deals with economic problems with an interdisciplinary approach and seeks solutions by making use of different disciplines. | 3 |
| 11) | Generates original and innovative ideas in the works she/he contributes as part of a team. | 2 |