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Information
| Unit | FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES |
| FINANCE PR. | |
| Code | IKZ212 |
| Name | Macroeconomics II |
| Term | 2017-2018 Academic Year |
| Semester | 4. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 5 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | Türkçe |
| Level | Lisans Dersi |
| Type | Normal |
| Label | C Compulsory |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. MEHMET FATİH CİN |
| Course Instructor |
Prof. Dr. HAKKI ÇİFTÇİ
(Bahar)
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
This is a two-term course which teaches the structure of the economy in terms of aggregate economic variables. We shall begin with Keynesian Aggregate Supply, General Price Level Adjustment and Long Term Equilibrium. In spring semester we will explain the assumptions underlying Keynesian, Monetarist, New Classical and New Keynesian Macroeconomic Theories. We will also analyze the effects of economic policies, especially the effects of monetary policy on real economic variables like employment and Current National Income according to these theories. We will also explain the relation between unemployment and inflation rates by using Phillips Curve. Then we will analyze the relation between inflation rate and Current National Income by using Dynamic Aggregate Supply and Dynamic Aggregate Demand Framework. We will also analyze the effect of political decisions on economic policies and outcomes. Our last subject will be macroeconomics for open economies.
Course Content
Inflationar Gap, Deflationary Gap, General Price Level Adjustment and long run equilibrium, differences among the Basic Assumtions of Keynesian, Monetarist, New Classical and New Keynesian Theories, Aggregate Supply and Aggregate Demand Framework, Relevancy of active economic policies according to different theories. Structure of Labour Market and bargaining process , Types, determinants and concequences of unemployment and inflation, The relation between unemployment and inflation rates in the short-run and long-run: Phillips Curve Framework, The relation between Current National Income and inflation rate: Dynamic Aggregate Supply and Dynamic Aggregate Demand Framework, Political Business Cycle Models: Effect of political decisions on business cycles. Open Economy Macroeconomics: Balance of Payments, Current Account, and Capital Account
Course Precondition
Resources
Notes
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Be familiar with the inflationary gap, deflationary gap, inflation and long run equilibrium. |
| LO02 | See differences among the Basic Assumtions of Keynesian, Monetarist, New Classical and New Keynesian Theories. |
| LO03 | Analyze Aggregate Supply and Aggregate Demand Framework |
| LO04 | Evaluate the relevancy of active economic policies according to different theories. |
| LO05 | Evaluate the macroeconomics issues |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explains basic conceptual information about economy and finance | 5 |
| PLO02 | Bilgi - Kuramsal, Olgusal | The departments of finance, law, economics, public administration, business administration and accounting have the necessary qualifications for the public and private sectors. | |
| PLO03 | Beceriler - Bilişsel, Uygulamalı | Analyses the basic conceptual knowledge about economics and finance in the context of current economic and financial developments. | |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Synthesises the information obtained from different sources within the framework of academic rules in the field of research | 5 |
| PLO05 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Works effectively individually and/or in a team. | |
| PLO06 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, follows the current developments in the field. | 4 |
| PLO07 | Yetkinlikler - Öğrenme Yetkinliği | Apart from the traditional approach, it develops new working methods when deemed necessary. | |
| PLO08 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Turkish and at least one foreign language is used in accordance with the needs of academic life and business life | |
| PLO09 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Expresses herself orally and in writing | |
| PLO10 | Yetkinlikler - Alana Özgü Yetkinlik | To be able to collect and analyse data from different sources by using contemporary communication tools, methods and processes | 4 |
| PLO11 | Yetkinlikler - Alana Özgü Yetkinlik | Having basic computer knowledge and skills, uses this information in the professional field. | |
| PLO12 | Yetkinlikler - Alana Özgü Yetkinlik | Explains the duties, authority and functioning of public financial institutions | |
| PLO13 | Yetkinlikler - Alana Özgü Yetkinlik | Explains job descriptions and responsibilities of professionals in the field of finance | |
| PLO14 | Yetkinlikler - Alana Özgü Yetkinlik | Have social, scientific and ethical values. | 4 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | KEYNESIAN MACROEOCONOMICS AND LONG TERM EQUILIBRIUM | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 2 | MONETARIST MACROECONOMICS AND AGGREGATE SUPPLY CURVE | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 3 | MONETARIST MACROEOCONOMICS AND ECONOMIC POLICIES | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 4 | NEW CLASSICAL MACROECONOMICS AND AGGREGATE SUPPLY CURVE | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 5 | NEW CLASSICAL MACROEOCONOMICS AND IRRELEVANCY OF ECONOMIC POLICIES | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 6 | NEW KEYNESIAN MACROECONOMICS: LABOUR MARKET AND COMMODITY MARKETS | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 7 | NEW KEYNESIAN MACROECONOMICS AND ECONOMIC POLICIES | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 8 | MID-TERM EXAM | prepare to exam | |
| 9 | INFLATION AND UNEMPLOYMENT: PHILLIPS CURVE | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 10 | KEYNESIAN MACROEOCONOMICS, MONETARIST MACROECONOMICS, PHILLIPS CURVE AND ECONOMIC POLICIES | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 11 | NEW CLASSICAL MACROECONOMICS, NEW KEYNESIAN MACROECONOMICS, PHILLIPS CURVE AND ECONOMIC POLICIES | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 12 | DEMOCRACY AND ECONOMY: POLITICAL BUSINESS CYCLES | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 13 | DYNAMIC AGGREGATE SUPPLY-DYNAMIC AGGREGATE DEMAND FRAMEWORK - I | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 14 | DYNAMIC AGGREGATE SUPPLY-DYNAMIC AGGREGATE DEMAND FRAMEWORK - II | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 15 | THE OPEN ECONOMY MACROECONOMICS | Students will be prepared by studying relevant subjects from source books according to weekly program | |
| 16 | FINAL EXAM | prepare to exam | |
| 17 | FINAL EXAM | prepare to exam |
Assessment (Exam) Methods and Criteria
| Assessment Type | Midterm / Year Impact | End of Term / End of Year Impact |
|---|---|---|
| 1. Midterm Exam | 100 | 40 |
| General Assessment | ||
| Midterm / Year Total | 100 | 40 |
| 1. Final Exam | - | 60 |
| Grand Total | - | 100 |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 3 | 42 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 3 | 42 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 18 | 18 |
| Total Workload (Hour) | 114 | ||
| Total Workload / 25 (h) | 4,56 | ||
| ECTS | 5 ECTS | ||