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 |
| ECO3731 | Monetary Theory and Policy | Fall | 3 | 0 | 3 | 6 |
Basic information
| Language of instruction: | English |
| Type of course: | Must Course |
| Course Level: | Bachelor’s Degree (First Cycle) |
| Mode of Delivery: | Hybrid |
| Course Coordinator : | Dr. Öğr. Üyesi AYSE ERTUĞRUL BAYKAN |
| Course Lecturer(s): |
Dr. Öğr. Üyesi AYSE ERTUĞRUL BAYKAN |
| Recommended Optional Program Components: | None. |
| Course Objectives: | The objective of this course is to give the students the understanding and the intuition about the explanatory notions and the monetary policy design. |
Learning Outcomes
|
The students who have succeeded in this course; 1. Interpret changes in global and national economy 2. Acquire a solid understanding of the essentials of financial instruments 3. Understand the role that central banks play in macroeconomic policy making 4. Learn the impact of the exchange rate changes on macroeconomic dynamics 5. Interpret the effects of a change in policy interest rate of central bank 6. Know the short-run and long-run objectives of central bank 7. Accumulate detailed knowledge about banking system 8. Comprehend the interaction between monetary policy making and financial markets 9. Discern the relation of international financial institutions with national regulatory agencies |
Course Content
| By taking into consideration the necessities for an integrated global perspective and financial dimension of monetary policy actions, the course is designed in two parts. In the former, the basic concepts of finance such as the time value of money, interest rate setting in bond markets, risk and the presentation of financial sphere are provided. In the latter, the linkage of the financial concepts to the monetary policy making is explained. In particular, the central bank balance sheet, the monetary toolbox of central banks, the corridor system, Taylor rule, unconventional monetary policies and their effect on financial investors’ decisions are detailed. |
Weekly Detailed Course Contents
| Week | Subject | Related Preparation |
| 1) | Central bank balance sheet and money supply | |
| 1) | General Introduction | |
| 2) | Money, Payment System and Components of the Financial System Definition of money and its functions | |
| 3) | Financial Instruments, Financial Markets, and Financial Institutions | |
| 4) | Fiyatlama: Gelecek değer ve şimdiki değer | |
| 5) | Interest Rates, Bonds, Bond Prices, Determination of Interest rates | |
| 6) | Risk and quantifying risk | |
| 7) | Term structure of Interest Rates | |
| 8) | Foreign Exchange | |
| 9) | Banking and bank management | |
| 10) | Central bank balance sheet | |
| 11) | Central bank balance sheet and money supply | |
| 12) | Monetary Policy : Monetary Policy Tools | |
| 13) | Monetary policy tools: unconventional tools | |
| 14) | Monetary policy rules and Taylor rule |
Sources
| Course Notes / Textbooks: | Cecchetti, S.G., (2017), “Money, Banking and Financial Markets”, McGraw -Hill, Global Edition |
| References: | Özatay, Fatih , (2011) “Parasal Iktisat Kuram ve Politika”, Efil Yayınları, Second Edition, in Turkish |
Evaluation System
| Semester Requirements | Number of Activities | Level of Contribution |
| Homework Assignments | 5 | % 25 |
| Midterms | 1 | % 30 |
| Final | 1 | % 45 |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 55 | |
| PERCENTAGE OF FINAL WORK | % 45 | |
| Total | % 100 | |
ECTS / Workload Table
| Activities | Number of Activities | Duration (Hours) | Workload |
| Course Hours | 3 | 16 | 48 |
| Study Hours Out of Class | 13 | 5 | 65 |
| Midterms | 1 | 9 | 9 |
| Final | 1 | 18 | 18 |
| Total Workload | 140 | ||
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. | 5 |
| 2) | He/she is equipped to closely follow the technological progress required by global and local dynamics and to continue learning. | 5 |
| 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. | 4 |
| 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. | 2 |
| 7) | Takes critical approach to economic and social problems and develops analytical solutions. | 1 |
| 8) | Has the necessary mathematical equipment to produce analytical solutions and use quantitative research methods. | 4 |
| 9) | In the works he/she contributes, observes individual and social welfare together and with an ethical perspective. | 4 |
| 10) | Deals with economic problems with an interdisciplinary approach and seeks solutions by making use of different disciplines. | 1 |
| 11) | Generates original and innovative ideas in the works she/he contributes as part of a team. | 3 |