INTERNATIONAL FINANCE
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)	To correctly identify the problems and to be able to ask the correct questions	4
2)	To have the ability for problem solving and to utilize analytical approach in dealing with the problems of finance	3
3)	To understand and grasp the full details of theoretical arguments and counter arguments	3
4)	To be fully prepared for a graduate study in finance and to have lifelong learning awareness	1
5)	To be able to apply theoretical principles of finance to the realities of practical business life	3
6)	To develop solutions for managerial problems by understanding the requirements of international financial markets	2
7)	To think innovatively and creatively in complex situations	1
8)	To be able to make decisions both locally and internationally by knowing the effects of globalization on business and social life	2
9)	To have the competencies of the digital age and to use the necessary financial applications	1
10)	To be able to use at least one foreign language both for communication and academic purposes	1
11)	To understand the importance of business ethics and to take decisions by knowing the legal and ethical consequences of their activities in the academic world and business life	1
12)	To develop an objective criticism in business and academic life and having a perspective to self-criticize	2