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Information
| Code | ECOS312 |
| Name | Monetary Theory |
| Term | 2024-2025 Academic Year |
| Semester | 6. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 7 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | İngilizce |
| Level | Lisans Dersi |
| Type | Normal |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Doç. Dr. ERHAN İŞCAN |
| Course Instructor |
1 |
Course Goal / Objective
This course will investigate the origins and role of money, theories regarding the supply of and demand for money and the role of money in determining aggregate demand, output, prices and other key macroeconomic variables. The relationship between money, credit and debt will be emphasized. This course will also analyse the evolving role of central banking and views regarding the role and conduct of monetary policy, including recent and historical international policy actions.
Course Content
It aims to build on the material typically covered in intermediate macroeconomics and provide the student with an advanced understanding of monetary economics, including contemporary and historical monetary theory, central banking and monetary policy.
Course Precondition
There are no prerequisites.
Resources
Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed.
Notes
Mishkin, F. S. (2012). The Economics of Money, Banking and Financial Markets (The Pearson Series in Economics).
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | On successful completion of this course, students are expected to have developed knowledge and understanding of Central Banking |
| LO02 | On successful completion of this course, students are expected to have developed knowledge and understanding of Monetary Policy Tools and Goals |
| LO03 | On successful completion of this course, students are expected to have developed knowledge and understanding of Money Supply |
| LO04 | On successful completion of this course, students are expected to have developed knowledge and understanding of Transmission mechanisms of monetary policy |
| LO05 | Develops knowledge and understanding of price stability aim of CB |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the basic concepts and theorems in the fields of Econometrics, Statistics and Operations research | |
| PLO02 | Bilgi - Kuramsal, Olgusal | Acquires basic Mathematics, Statistics and Operation Research concepts | |
| PLO03 | Bilgi - Kuramsal, Olgusal | Describes the necessary concepts of Business | |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Equipped with the foundations of Economics, and develops Economic models | 5 |
| PLO05 | Beceriler - Bilişsel, Uygulamalı | Models problems with Mathematics, Statistics, and Econometrics | 5 |
| PLO06 | Beceriler - Bilişsel, Uygulamalı | Has the ability to analyze/interpret at the conceptual level to develop solutions to problems | 5 |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Collects/analyses data | 5 |
| PLO08 | Bilgi - Kuramsal, Olgusal | Interprets the results analyzed with the model | |
| PLO09 | Beceriler - Bilişsel, Uygulamalı | Combines the information obtained from different sources within the framework of academic rules in a field which does not research | 5 |
| PLO10 | Beceriler - Bilişsel, Uygulamalı | It develops traditional approaches, practices and methods into new working methods when it deems necessary | |
| PLO11 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Leads by taking responsibility individually and/or within the team | |
| PLO12 | Yetkinlikler - Öğrenme Yetkinliği | In addition to herself/himself professional development, constantly improves in scientific, cultural, artistic and social fields in line with interests and abilities | |
| PLO13 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, it follows the current developments in the field / constantly renews itself | 5 |
| PLO14 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses a package program of Econometrics, Statistics, and Operation Research | |
| PLO15 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses Turkish and at least one other foreign language, academically and in the business context | |
| PLO16 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Interprets the feelings, thoughts and behaviors of the related persons correctly/expresses himself/herself correctly in written and verbal form | |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Interprets data on current economic and social issues | 5 |
| PLO18 | Yetkinlikler - Alana Özgü Yetkinlik | Applies social, scientific and professional ethical values |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Introducing Money and the Financial System | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 2 | Money and the Payments System | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 3 | Interest Rates and Rates of Return | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 4 | Determining Interest Rates | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 5 | The Risk Structure and Term Structure of Interest Rates | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 6 | The Stock Market, Information, and Financial Market Efficiency | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 7 | Derivatives and Derivative Markets | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 8 | Mid-Term Exam | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | The Market for Foreign Exchange | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 10 | Transactions Costs, Asymmetric Information, and the Structure of the Financial System | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 11 | The Economics of Banking | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 12 | Beyond Commercial Banks: Shadow Banks and Nonbank Financial Institutions | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 13 | Financial Crises and Financial Regulation | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 14 | Monetary Policy | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 15 | The International Financial System and Monetary Policy | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Öğretim Yöntemleri: Anlatım |
| 16 | Term Exams | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | Ölçme Yöntemleri: Yazılı Sınav |
| 17 | Term Exams | Hubbard, G. P., and O'Brien, A. P. (2011). Money, banking, and the financial system. Pearson Higher Ed. | 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 | 6 | 84 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 18 | 18 |
| Final Exam | 1 | 30 | 30 |
| Total Workload (Hour) | 174 | ||
| Total Workload / 25 (h) | 6,96 | ||
| ECTS | 7 ECTS | ||