INTERNATIONAL FINANCE | |||||
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 |
The course opens with the approval of the Department at the beginning of each semester |
Language of instruction: | En |
Type of course: | Must Course |
Course Level: | Bachelor |
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 |
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: | O.Blanchard “Macroeconomics”, Prentice Hall, 5th Edition 2011 |
References: |
Semester Requirements | Number of Activities | Level of Contribution |
Attendance | % 0 | |
Laboratory | % 0 | |
Application | % 0 | |
Field Work | % 0 | |
Special Course Internship (Work Placement) | % 0 | |
Quizzes | % 0 | |
Homework Assignments | % 0 | |
Presentation | % 0 | |
Project | % 0 | |
Seminar | % 0 | |
Midterms | 1 | % 40 |
Preliminary Jury | % 0 | |
Final | 1 | % 60 |
Paper Submission | % 0 | |
Jury | % 0 | |
Bütünleme | % 0 | |
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 |
Laboratory | 0 | 0 | 0 |
Application | 0 | 0 | 0 |
Special Course Internship (Work Placement) | 0 | 0 | 0 |
Field Work | 0 | 0 | 0 |
Study Hours Out of Class | 14 | 6 | 84 |
Presentations / Seminar | 0 | 0 | 0 |
Project | 0 | 0 | 0 |
Homework Assignments | 0 | 0 | 0 |
Quizzes | 0 | 0 | 0 |
Preliminary Jury | 0 | 0 | 0 |
Midterms | 1 | 30 | 30 |
Paper Submission | 0 | 0 | 0 |
Jury | 0 | 0 | 0 |
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 | 4 |
2) | To have the ability for problem solving and to utilize analytical approach in dealing with the problems of finance | 3 |
3) | To understand and grasp the full details of theoretical arguments and counter arguments | 3 |
4) | To be fully prepared for a graduate study in finance and to have lifelong learning awareness | 1 |
5) | To be able to apply theoretical principles of finance to the realities of practical business life | 3 |
6) | To develop solutions for managerial problems by understanding the requirements of international financial markets | 2 |
7) | To think innovatively and creatively in complex situations | 1 |
8) | To be able to make decisions both locally and internationally by knowing the effects of globalization on business and social life | 2 |
9) | To have the competencies of the digital age and to use the necessary financial applications | 1 |
10) | To be able to use at least one foreign language both for communication and academic purposes | 1 |
11) | To understand the importance of business ethics and to take decisions by knowing the legal and ethical consequences of their activities in the academic world and business life | 1 |
12) | To develop an objective criticism in business and academic life and having a perspective to self-criticize | 2 |