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 |
| ECO3702 | Advanced Macroeconomics | Fall | 3 | 0 | 3 | 6 |
| This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester. |
Basic information
| Language of instruction: | English |
| Type of course: | Departmental Elective |
| Course Level: | Bachelor’s Degree (First Cycle) |
| Mode of Delivery: | Hybrid |
| Course Coordinator : | Assoc. Prof. KAAN İRFAN ÖĞÜT |
| Course Lecturer(s): |
Assoc. Prof. KAAN İRFAN ÖĞÜT |
| Recommended Optional Program Components: | None |
| Course Objectives: | This course aims to extend students’ knowledge in macroeconomics and to develop their analysis skills and teach them how to use these concepts in advanced studies in macroeconomics. |
Learning Outcomes
|
The students who have succeeded in this course; 1. Students will be able to construct dynamic economic models 2. Students will be able to define economic relationships in the framework of dynamic models 3. Students will be able to understand some advanced topics in macroeconomics like, inflation targeting, Taylor’s Rule, liquidity trap which are related with current economic events. 4. Students will be able to analyze policy effects on economic variables 5. Students will be able to understand and interpret current macroeconomic events. |
Course Content
| Open Economy with Flexible and Managed Exchange Rate Regimes Inflation Targeting and Taylor’s Rule Mundell Fleming Model : Graph Analysis Fiscal Policy and Debt Dynamics Financial Markets in Macroeconomic Models |
Weekly Detailed Course Contents
| Week | Subject | Related Preparation |
| 1) | From Closed Economy to Open Economy | |
| 2) | Exchange Rate Determination and Exchange Rate Regimes (flexible, fixed and managed floating) | |
| 3) | Mundell - Fleming Model | |
| 4) | Phillips Curve and Exchange Rate Pass Through Effect | |
| 5) | Inflation Targeting and Taylor Rule in Open Economy | |
| 6) | Endogenous Money Supply and Credit Money | |
| 7) | Tobin Q and Asset Prices | |
| 8) | Consumption, Investment and Wealth Effect | |
| 9) | The transmission of monetary policy | |
| 10) | Fiscal Policy and Debt Dynamics | |
| 11) | Midterm Exam | |
| 12) | Twin Deficit in a Mundell – Fleming – Tobin Framework | |
| 13) | Global Excess Liquidity and Liquidity Trap | |
| 14) | Central Banks and Financial Stability | |
| 15) | Expectations in Macroeconomics | |
| 16) | Final Exam |
Sources
| Course Notes / Textbooks: | Rodseth, A., Open Economy Macroeconomics, Cambridge University Press, 2000 |
| 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 | 4 | 56 |
| Midterms | 1 | 40 | 40 |
| Final | 1 | 50 | 50 |
| Total Workload | 146 | ||
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. | 4 |
| 2) | Understand the common as well as distinctive characters of the markets, industries, market regulations and policies. | 5 |
| 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. | 4 |
| 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. | 3 |