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Information
| Unit | INSTITUTE OF SOCIAL SCIENCES |
| ECONOMICS (PhD) | |
| Code | İKT821 |
| Name | Postk Keynesian Economics and Pricing Theory |
| Term | 2024-2025 Academic Year |
| Term | Fall and Spring |
| Duration (T+A) | 4-0 (T-A) (17 Week) |
| ECTS | 10 ECTS |
| National Credit | 4 National Credit |
| Teaching Language | Türkçe |
| Level | Doktora Dersi |
| Type | Normal |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | |
| Course Instructor |
The current term course schedule has not been prepared yet.
|
Course Goal / Objective
The aim of this course is to introduce Post Keynesian Economics and explain pricing theory.
Course Content
Post-Keynesian economics, differences between mainstream economics and Post-Keynesian economics, pricing behavior, endogenity of money, credit and financial stability
Course Precondition
There are prerequisites for the course.
Resources
Mehmet Fatih Cin, Post Keynezyen İktisat Marc Lavoie, Introduction to Post-Keynesian Economics
Notes
Selected Articles
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Explains the differences between Post-Keynesian economics and mainstream economics, its basic assumptions and its historical development. |
| LO02 | Reveal the basic features of post-Keynesian economics |
| LO03 | Explain mark-up pricing, cost-based pricing, and price formation processes in oligopolistic markets. |
| LO04 | Explain the pricing behavior of firms in the Post-Keynesian approach |
| LO05 | Understand why money is endogenous in monetary policy |
| LO06 | Explain why credit and financial stability are central to modern business cycle theories |
| LO07 | Explains Hyman Minsky's financial instability hypothesis and the impact of the credit creation mechanism on pricing processes. |
| LO08 | Explains current economic crises such as the 2008 Global Financial Crisis and post-Covid-19 inflationary processes within the framework of Post-Keynesian pricing theories. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explains the importance of demand and supply and the conditions of the market economy to work better | 5 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Conducts new research that contributes to science. | 4 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Specifies the role of the market economy, the price advantage of the event. | 5 |
| PLO04 | Bilgi - Kuramsal, Olgusal | Specifies the role of the price advantage in market economy | 5 |
| PLO05 | Bilgi - Kuramsal, Olgusal | Faces with challenges, produces a numerical and policy options. | 5 |
| PLO06 | Bilgi - Kuramsal, Olgusal | Applies the methods of economic analysis. | 4 |
| PLO07 | Bilgi - Kuramsal, Olgusal | Acquires the ability of analyzing in the conceptual level ,compares interprets, evaluates and synthesizes ideas in order to develop solutions to the problems. | |
| PLO08 | Bilgi - Kuramsal, Olgusal | Has the knowledge of quantitative and qualitative techniques used in Economics. | 5 |
| PLO09 | Yetkinlikler - Alana Özgü Yetkinlik | Builds, decodes and interprets models by using quantitative and qualitative techniques | |
| PLO10 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Takes responsibility individually and / or in a team,leads a team and works effectively | |
| PLO11 | Yetkinlikler - Öğrenme Yetkinliği | With the awareness of the necessity of life-long learning, follows the latest developments about his field and improves himself | |
| PLO12 | Bilgi - Kuramsal, Olgusal | Speaks Turkish, and at least one other foreign language in accordance with the requirements of academic and business life. | |
| PLO13 | Yetkinlikler - Alana Özgü Yetkinlik | Recognize and apply social, scientific and professional ethical values. | 4 |
| PLO14 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Expresses himself/herself accurately, both orally and in writing. | |
| PLO15 | Beceriler - Bilişsel, Uygulamalı | Publishes original studies in the field of economics in scientific journals. | 5 |
| PLO16 | Beceriler - Bilişsel, Uygulamalı | Knows where and how to find all scientific resources and data with information technologies to do research. | |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Understands the necessity and importance of research in social sciences. | 4 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Mainstream economics and heterodox economics | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 2 | J.M. Keynes and mainstream economics | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 3 | Post Keynesian Microeconomics | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 4 | Post Keynesian Macroeconomics | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 5 | Effective demand and Employment | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 6 | The doctrines of administered and normal cost prices | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 7 | The doctrine of mark up prices | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 8 | Mid-term exam | Relevant Chapters | Ölçme Yöntemleri: Yazılı Sınav, Ödev |
| 9 | Arguments of pricing and prices | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 10 | Pricing, prices and Inflation | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 11 | Credit, financial stability and business cycles | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 12 | Post-Keynesian Monetary Theory and Central Banking | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 13 | Post-Keynesian fiscal policy | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 14 | Crises and Post Keynesian economics | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 15 | Evaluating Current Economic Crises and Pricing Dynamics | Relevant Chapters | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 16 | Final Exam | Relevant Chapters | Ölçme Yöntemleri: Yazılı Sınav |
| 17 | Final Exam | Relevant Chapters | Ölçme Yöntemleri: Yazılı Sınav |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 4 | 56 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 12 | 168 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 1 | 2 | 2 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 24 | 24 |
| Total Workload (Hour) | 262 | ||
| Total Workload / 25 (h) | 10,48 | ||
| ECTS | 10 ECTS | ||