BAHÇEŞEHİR UNIVERSITY BİLGİ PAKETİ / DERS KATALOĞU
| ECONOMICS AND 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) | Build up a body of knowledge in mathematics and statistics, to use them, to understand how the mechanism of economy –both at micro and macro levels – works. | 5 |
| 2) | Understand the common as well as distinctive characters of the markets, industries, market regulations and policies. | 4 |
| 3) | Develop an awareness of different approaches to the economic events and why and how those approaches have been formed through the Economic History and understand the differences among those approaches by noticing at what extent they could explain the economic events. | 4 |
| 4) | Analyze the interventions of politics to the economics and vice versa. | 5 |
| 5) | Apply the economic analysis to everyday economic problems and evaluate the policy proposals for those problems by comparing opposite approaches. | 5 |
| 6) | Understand current and new economic events and how the new approaches to the economics are formed and evaluating. | 5 |
| 7) | Develop the communicative skills in order to explain the specific economic issues/events written, spoken and graphical form. | 5 |
| 8) | Know how to formulate the economics problems and issues and define the solutions in a well-formed written form, which includes the hypothesis, literature, methodology and results / empirical evidence. | 4 |
| 9) | Demonstrate the quantitative and qualitative capabilities and provide evidence for the hypotheses and economic arguments. | 4 |
| 10) | Understand the information and changes related to the economy by using a foreign language and communicate with colleagues. | 5 |