| ECONOMICS AND FINANCE | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| ECO4563 | Turkish Economy | Spring | 3 | 0 | 3 | 4 |
| Language of instruction: | English |
| Type of course: | Must Course |
| Course Level: | Bachelor’s Degree (First Cycle) |
| Mode of Delivery: | Face to face |
| Course Coordinator : | Prof. Dr. SEYFETTİN GÜRSEL |
| Course Lecturer(s): |
Prof. Dr. SEYFETTİN GÜRSEL |
| Recommended Optional Program Components: | None |
| Course Objectives: | The course is based on the basic concepts of neoclassical economic growth theory and on the tools of growth accounting methodology. Using these concepts and tools the world economic development/growth history is summarized and discussed using Maddison tables. Then the political and economic main institutions of the Ottoman Empire are described in order to understand why ottoman system did not success in developing capitalism and industrialization. Given this institutional heritage the economic history of the Turkish Republic from 1923 to 2001 is described and discussed along with the systemic changes in different periods as 1923-1929, 1930-1949, 1950-1960, 1961-1980, 1980-2001 taking into consideration the performances in regards of economic growth. The final issue comprehends a detailed and analytical study of the new era starting in 2002 with the realization of comprehensive institutional reforms. This part of the course is particularly based on the recent growth accounting analysis of the Turkish economy. The main objective of the course is to make the students able to use the basic concepts and tools of economic growth theory in evaluating the growth performance of an economy, in particular of the Turkish economy. |
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The students who have succeeded in this course; 1. Develop capabilities to use the neo classical growth theory in order to understand the growth performances in the long run of national economies, 2. Become familiar with growth accounting methodology, 3. Acquire knowledge on the periodicities of the Turkish economy, 4. Evaluate the growth performance of the Turkish economy in the past within the international context, 5. Become familiar with the potential growth concept and apply this concept to the Turkish economy, 6. Develop capability to analyze structural problems of the Turkish economy prevailing to attain potential growth debate. |
| The teaching methods of the course are Lecture, Reading, Observation, Discussion. Introduction:Ideological and structural legacy of the past 1. Growth Issues in the Turkish Economy 1.a) Neoclassical growth function 1.b) Growth performance of the Turkish Economy in the past 1.c) Estimation of the potential growth rate 1.d) Growth during the last crisis and recovery 1.e) How to improve potential growth? 2.Turkish Labor Market Dynamics 2.a)Labor force dynamics 2.b)Growth-Employment interactions 2.c)Unemployment: Its nature and future |
| Week | Subject | Related Preparation |
| 1) | Introduction | |
| 2) | Economic Growth Theory | |
| 3) | Economic Growth Theory | |
| 4) | Economic growth in the World History | |
| 5) | Economic growth in the World History | |
| 6) | History of economic growth in Turkey | |
| 7) | History of economic growth in Turkey | |
| 8) | Midterm Week | |
| 9) | History of economic growth in Turkey | |
| 10) | Actual Turkish economic growth | |
| 11) | Actual Turkish economic growth | |
| 12) | Actual Turkish economic growth | |
| 13) | Actual Turkish economic growth | |
| 14) | Review |
| Course Notes / Textbooks: | -Akat, Asaf Savaş & Gürsel, Seyfettin, (2020). Turkish Economy at the Crossroads, World Scientific Publication Company. -Pamuk, Şevket, (2019). Uneven Centuries: Economic Development of Turkey since 1820, Amazon.com.tr |
| 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 | 13 | 3 | 39 |
| Study Hours Out of Class | 14 | 4 | 56 |
| Midterms | 1 | 2 | 2 |
| Final | 1 | 2 | 2 |
| Total Workload | 99 | ||
| 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) | Developing the ability to explain global economic events by understanding different economic perspectives. | 4 |
| 4) | Acquiring the ability to analyze the impact of politics on the economy and vice versa. | 4 |
| 5) | Gaining the competence to propose solutions to economic problems and evaluate opposing policy recommendations. | 5 |
| 6) | Understanding and evaluating new economic developments and approaches. | 5 |
| 7) | Developing the ability to convey economic news and developments through written, oral, and graphical communication. | 5 |
| 8) | Gaining the competence to develop structured solutions for economic issues. | 4 |
| 9) | Acquiring the capability to present findings that support economic assumptions using numerical and verbal skills. | 4 |
| 10) | Gaining the competence to follow economic information and communicate with colleagues using a foreign language. | 5 |