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Information
| Code | ECOS406 |
| Name | Central Banking and Monetary Policy |
| Term | 2022-2023 Academic Year |
| Semester | 8. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 6 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | İngilizce |
| Level | Lisans Dersi |
| Type | Normal |
| Label | E Elective |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof.Dr. HÜSEYİN MAHİR FİSUNOĞLU |
| Course Instructor |
1 |
Course Goal / Objective
aking the importance central banks have gained in recent years into consideration, and on the one hand focusing on the importance of political / economic mergers between countries, on the other hand, the importance of new economies approaching, and finally remebering the increasing international capital movements, the purpose of this course is first of all focusing on the functions, the role of central banks in monetary policy instruments and objectives put forward in the liberalization of capital movements, especially their effects on the balance sheets of central banks. Secondly, understanding the function of central banks and analyzing the independence of central banks, the inflation targeting and reserve governments and their economic consequences. In addition, understanding the working system of central banks and the ability to analyze and make inferences about the future.
Course Content
Modern Perspectives on Money and Monetary Policy in the Financial System and Banking, Banking, and Central Banking, Central Bank Independence, Reliability, Importance of the Principles of Transparency.
Course Precondition
There are no prerequisites.
Resources
Mishkin, F. S. (2012). The Economics of Money, Banking and Financial Markets (The Pearson Series in Economics).
Notes
Hartmann, P., & Smets, F. (2018). The first twenty years of the European Central Bank: monetary policy.
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Understand the position and role of central banks in money policy. |
| LO02 | Analyze the economical results of the changes in balance sheets due to capital movements. |
| LO03 | Analyze the independence of central banks, inflation targeting, reserve management, and their economic consequences. |
| LO04 | Recommends the necessary policies to ensure price stability. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the importance of demand and supply in economy sciece and the well-running conditions of the market economy | |
| PLO02 | Bilgi - Kuramsal, Olgusal | Define the role of pricing within the event advantage of the market economy | 5 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Define the role of the state in economy, money and financial policies, the central bank and the structure of the market | 5 |
| PLO04 | Bilgi - Kuramsal, Olgusal | Perceive the costs and benefits arising from the global economy | |
| PLO05 | Bilgi - Kuramsal, Olgusal | Produce nymerical and policy options when confronted with problems | 5 |
| PLO06 | Bilgi - Kuramsal, Olgusal | Use quantitative and qualitative techniques of model building, decoding and interpretation | 5 |
| PLO07 | Bilgi - Kuramsal, Olgusal | Use the theory of economics in the analysis of economic events | |
| PLO08 | Bilgi - Kuramsal, Olgusal | Use computer programs, do synthesis and present prepared data efficiently | |
| PLO09 | Bilgi - Kuramsal, Olgusal | Apply the methods of economic analysis. | 4 |
| PLO10 | Bilgi - Kuramsal, Olgusal | Analyze at conceptual level and aquire abiliy in comparing, interpreting, evaluating and synthesizing in order to develop solutions to problems | |
| PLO11 | Bilgi - Kuramsal, Olgusal | Take responsibility individually and/or in a team, take leadership and work effectively | |
| PLO12 | Beceriler - Bilişsel, Uygulamalı | Follow innovative developments in the field being aware of the necessity of lifelong learning and improving him-/herself | |
| PLO13 | Beceriler - Bilişsel, Uygulamalı | Use of different sources about an unfamiliar field within academic principles, synthesize gained data and present effectively | |
| PLO14 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Use Turkish and at least one foreign language in accordance with the requirements of academic and work life | |
| PLO15 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Understand and interpret related peoples´ feelings, thoughts and behaviours correctly; express him-/herself accurately in written and oral language | |
| PLO16 | Yetkinlikler - Öğrenme Yetkinliği | Question traditional approaches, practices and methods. | |
| PLO17 | Yetkinlikler - Öğrenme Yetkinliği | Recognize and apply social, scientific and professional ethical values. |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Monetary Policy | Readings | Öğretim Yöntemleri: Anlatım |
| 2 | Monetary Policy and Central Banking | Readings | Öğretim Yöntemleri: Anlatım |
| 3 | Analysis of Balance Sheet of central banks | Readings | Öğretim Yöntemleri: Anlatım |
| 4 | Balance Sheet of central banks and policies | Readings | Öğretim Yöntemleri: Anlatım |
| 5 | Capital Inflows | Readings | Öğretim Yöntemleri: Anlatım |
| 6 | Effects of the monetary policy | Readings | Öğretim Yöntemleri: Anlatım |
| 7 | Effects of the monetary policy on Capital Inflows | Readings | Öğretim Yöntemleri: Anlatım |
| 8 | Mid term exam | prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | Independence of central banks | Readings | Öğretim Yöntemleri: Anlatım |
| 10 | Inflation targeting | Readings | Öğretim Yöntemleri: Anlatım |
| 11 | Monetary policy options of TCMB | Readings | Öğretim Yöntemleri: Anlatım |
| 12 | Balance sheet of central bank | Readings | Öğretim Yöntemleri: Anlatım |
| 13 | Independence of Central Bank | Readings | Öğretim Yöntemleri: Anlatım |
| 14 | Manage of reserve | Readings | Öğretim Yöntemleri: Anlatım |
| 15 | Manage of reserve and economic consequences | Readings | Öğretim Yöntemleri: Anlatım |
| 16 | Final exam | prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
| 17 | Final exam | prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
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 | 5 | 70 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 15 | 15 |
| Final Exam | 1 | 30 | 30 |
| Total Workload (Hour) | 157 | ||
| Total Workload / 25 (h) | 6,28 | ||
| ECTS | 6 ECTS | ||