LOGISTIC MANAGEMENT | |||||
Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 |
Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
ECO2212 | Macroeconomics | Spring | 3 | 0 | 3 | 8 |
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 |
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 |
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 |
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 |
Course Notes / Textbooks: | O.Blanchard “Macroeconomics”, Prentice Hall, 5th Edition 2011 |
References: |
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 |
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 |
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 | |
2) | To have the ability for problem solving and to utilize analytical approach in dealing with the problems | 4 |
3) | To be able to identify business processes and use them to increase the productivity in logistics system. | |
4) | To be fully prepared for a graduate study | 4 |
5) | Awareness of the new advancements in Information and Communications Technologies (ICT) and to be able to use them in logistics management effectively. internet and the electronic world | |
6) | To understand the components of logistics as well as the importance of the coordination among these components. | |
7) | To know the necessary ingredients for improving the productivity in business life | |
8) | To think innovatively and creatively in complex situations | 2 |
9) | To act and think both regionally and internationally | |
10) | To understand the demands and particular questions of globalization | |
11) | Aware of the two way interaction between globalization and logistics; as well as to use this interaction for increasing the productivity. | |
12) | To be able to use at least one foreign language both for communication and academic purposes | |
13) | To acquire leadership qualities but also to know how to be a team member | |
14) | To understand the importance of business ethics and to apply business ethics as a principal guide in both business and academic environment |