MATHEMATICS (TURKISH, PHD) | |||||
PhD | TR-NQF-HE: Level 8 | QF-EHEA: Third Cycle | EQF-LLL: Level 8 |
Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
ECO3732 | Fiscal Theory and Policy | Fall | 3 | 0 | 3 | 6 |
The course opens with the approval of the Department at the beginning of each semester |
Language of instruction: | En |
Type of course: | Departmental Elective |
Course Level: | |
Mode of Delivery: | Hybrid |
Course Coordinator : | Dr. Öğr. Üyesi AYSE ERTUĞRUL BAYKAN |
Course Lecturer(s): |
Dr. Öğr. Üyesi AYSE ERTUĞRUL BAYKAN |
Course Objectives: | The objective of this course is to gain students from macroeconomic perspective the basic notions of fiscal policy and its possible effects on other key variables. |
The students who have succeeded in this course; 1. Learn the basic concepts of fiscal policy notions, 2. Evaluate and interpret the course of data in fiscal tools, 3. Understand the dynamics of government debt, 4. Identify government budget aggregates, 5. Interpret the data of international fiscal aggregates, 6. Learn the stylized facts of fiscal policy in Turkey, 7. Identify the intersection points of fiscal policy with monetary policy. |
The basic concepts of fiscal policy notions, primary balance, deficit and surplus, the dynamic debt equation, government budget aggregates, the Ricardian Equivalence, the intertemporal government budget constraint, the data of international fiscal aggregates, the stylized facts of fiscal policy in Turkey, the understanding of fiscal policy from monetary policy approach, the institutions of fiscal policy in Turkey. |
Week | Subject | Related Preparation | |
1) | Giriş ve terminology | ||
2) | Terminology, definion of fiscal variables and basic notions of fiscal policy | Article: Feldstein, F. (2009)Rethinking the Role of Fiscal Policy, NBER WP14684 | |
3) | Intertemporal Government Budget Constraint, Current versus Future Taxation | Debt Stabilization Article: Romer, D.(2011) What Have We Learned about Fiscal Policy from the Crisis?, IMF Conference Paper | |
4) | Reminder of effects of fiscal policy over key macroeconomic variables, Ricardian Equivalence, Deficit, output stabilisation and the cyclically adjusted deficit, Ricardian Fiscal Policy and Fiscal Dominance. | Article: Taylor, J.(2009), The Lack of an Empirical Rationale for a Revival of Discretionary Fiscal Policy, American Economic Review, Papers and Proceedings | |
5) | The dangers of very high debt, U.S. and Turkey budget: Current numbers and future prospects, Medium-Run budget projections, long-run challenges | ||
6) | Government spending and its financing in U.S. and Turkey, The government budget in U.S. and Turkey, Government spending, taxes and the macroeconomy (review) | Leeper, E. (2011) What should Obama do?, Inside Story | |
7) | Government Capital Formation, Incentive Effects of Fiscal Policy, Tax-induced distortions and tax rate smoothing. | ||
8) | Numerical exercises | ||
9) | Government deficit and debt, the burden of the government debt on future generations, budget deficit and national saving: Ricardian equivalence revisited. | Leeper, E. (2011) American Incoherence, The Age | |
10) | Deficits and inflation, Real seignorage collection and inflation | Bernanke, B. (2017), The FED and The Fiscal Policy, Brookings blog-post | |
11) | Incentive Effects of Fiscal Policy: Labor Market | ||
12) | Fiscal policy and climate change | ||
13) | Green bond market | ||
14) | Data-based analysis of fiscal policy: Turkish case |
Course Notes: | Ders notları, makaleler, çalışma tebliğleri /Course notes, articles, working papers and opinion pieces. |
References: | Current related articles End this depression now! (2013), Krugman, P., W. W. Norton Company; 1st edition. The Fiscal Cliff (2012), Ayşe İmrohoroğlu and Selahattin İmrohoroğlu |
Semester Requirements | Number of Activities | Level of Contribution |
Attendance | % 0 | |
Laboratory | 0 | % 0 |
Application | 0 | % 0 |
Field Work | 0 | % 0 |
Special Course Internship (Work Placement) | 0 | % 0 |
Quizzes | 0 | % 0 |
Homework Assignments | 0 | % 0 |
Presentation | 1 | % 20 |
Project | 0 | % 0 |
Seminar | 0 | % 0 |
Midterms | 1 | % 30 |
Preliminary Jury | 0 | % 0 |
Final | 1 | % 50 |
Paper Submission | 0 | % 0 |
Jury | 0 | % 0 |
Bütünleme | % 0 | |
Total | % 100 | |
PERCENTAGE OF SEMESTER WORK | % 50 | |
PERCENTAGE OF FINAL WORK | % 50 | |
Total | % 100 |
Activities | Number of Activities | Duration (Hours) | Workload |
Course Hours | 16 | 3 | 48 |
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 | 13 | 5 | 65 |
Presentations / Seminar | 0 | 0 | 0 |
Project | 0 | 0 | 0 |
Homework Assignments | 0 | 0 | 0 |
Quizzes | 0 | 0 | 0 |
Preliminary Jury | 0 | ||
Midterms | 1 | 10 | 10 |
Paper Submission | 0 | ||
Jury | 0 | ||
Final | 1 | 15 | 15 |
Total Workload | 138 |
No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
Program Outcomes | Level of Contribution |