| Course Title | Code | Language | Type | Semester | L+U Hour | Credits | ECTS |
|---|---|---|---|---|---|---|---|
| Macro Economics | ISL219 | Turkish | Compulsory | 3. Semester | 3 + 0 | 3.0 | 5.0 |
| Prerequisite Courses | |
| Course Level | Undergraduate |
| Mode of delivery | Lecture (face-to-face) |
| Course Coordinator | Prof. Dr. Oğuz KARA |
| Instructor(s) | Prof. Dr. Oğuz KARA (Güz) |
| Goals | To provide the necessary hardware to analyze and identify macroeconomic cases and problems. |
| Course Content | The definition of the macro economy, content and development; training and methodological problems of economics; macroeconomic analysis and macro-economic models, the functioning of the market economy, market and non-market failures and macroeconomic equilibrium analysis, production capacity and national income, measurement of price movements and inflation, measurement of employment capacity and unemployment, economic growth and economic fluctuations, net social welfare, under the heading of micro foundations of macro-economic factors that determine the trend of consumption-saving and investment, public sector and economic stability, an open economy and economic balance, foreign exchange market and foreign currency exchange rates, money market, interest rates and financial markets |
| # | Öğrenme Kazanımı |
| 1 | Theoretical: Establishing sufficient infrastructure for basic concepts and theories in macroeconomics Applied: detection and measurement of macro magnitudes in the context of different theories |
| 2 | Conceptual: Ability to analyze macroeconomic variables and construct an economic model suitable for economic conjuncture Cognitive Practice: Ability to choose the right economic policies against macroeconomic imbalances and to make econometric and mathematical analysis |
| 3 | Learning Competency: Ability to access information and search for resources for this purpose, use databases and other information sources Professional Competence in the Field: Professional ethics and responsibility awareness. Ability to apply theoretical knowledge acquired within the framework of macroeconomic policies |
| Week | Topics/Applications | Method |
|---|---|---|
| 1. Week | (Introduction and Basic Concepts) The Concept of Macro Economics; Macroeconomics - micro-economics; Basic research areas of macroeconomics; Method in macroeconomics | |
| 2. Week | (Macro Size and Measurement) Measurement of Gross Domestic Product (GDP): production approach, Spending approach, Income approach; GDP-related figures: Gross National Product, Net Domestic Product, National Income, Personal Income, Disposable Personal Income; Measurement of Unemployment, Measurement of Inflation (CPI - PPI), Measurement of Growth Rate, Arrow Law | |
| 3. Week | (Classical Macroeconomic Theory) Classical Macro-economic Approach: Basic assumptions of classical economy, Productivity, Investment-saving identity, Classical interest theory, | |
| 4. Week | (Simple Keynesian Model) Total Planned Expenditure: Consumption function, Saving Function, Investment Function, Public Expenditures; Spending equation: formation and change of equilibrium in goods market, | |
| 5. Week | (Macroeconomic Model of the Keyses Modyen) Multiplier Mechanism: investment multiplier, transfer expenditure multiplier, tax multiplier, public expenditure multiplier, net foreign trade multiplier; inflationist - Deflationary Open and Fiscal policy, | |
| 6. Week | (Interest Rate Relation IS-LM Model) Interaction in goods and money markets; Derivation of the IS curve, the slope and position of the IS; Money supply and demand, Equilibrium in money market, Derivation of LM curve, LM's slope and position, Simultaneous equilibrium in goods and money market, Change of equilibrium and effectiveness of fiscal / monetary policies | |
| 7. Week | (Total Demand Analysis) Total Demand curve: Derivation of the curve (Keynesian approach, Pigou approach), slope and position; Simultaneous effects of Monetary and Fiscal Policies; Concepts of budget deficit, Supply-side economics and budget deficits, budget deficit financing, budget deficit, senyoraj and inflation | |
| 8. Week | Effects of Monetary and Fiscal Policies on Aggregate Demand | |
| 9. Week | (Total Supply Analysis) Classic total supply curve, Keynes total supply curve, market failures and total supply curve, worker-error model (M. Friedman), Firm Error Model (Lucas), Adhesive Wage Model (S. Fisher), Short and Long Term Total Supply curves; Dynamic total supply and aggregate demand models | |
| 10. Week | (Inflation Rate Relationship) Causes of inflation and inflation; Effects of monetary and fiscal policies on inflation; Anti-inflationist policies under the assumption of Adaptive Expectations and Rational Expectations; Cost of Inflation | |
| 11. Week | Employment Analysis) Concepts of Unemployment and Employment; Unemployment Types, Unemployment and Inflation Relation, Phillips Curve, Short and Long Term Phillips Curves, | |
| 12. Week | (Money Market Analysis) Definition of money, functions and money systems; Demand for classic money: Quantity Theory (Yale-Fisher Approach, Cambridge Approach), Keynes's Money Demand Theory: Liquidity Preference Theory, Baumol-Tobin Money Demand Model, Tobin's Risk Money Demand Model, Modern Quantity Theory; Money supply: the creation of money (banks), money multiplier, determinants of money supply, monetary policy and tools | |
| 13. Week | (Micro Fundamentals of Macro Economics) Consumption; Absolute income hypothesis, Relative income hypothesis, Fisher's time between consumption selection model, Lifetime income hypothesis, Continuous income hypothesis Random walking model, Investment; Fixed investment, stock investment, current value criterion and Keynes's marginal effectiveness analysis of capital, Simple accelerating model, Neo-classical investment model, Tobin's Q theory | |
| 14. Week | (Döviz Piyasası Analizi) Döviz kuru sistemleri, açık ekonomide toplam planlanan harcama, açık ekonomide mal piyasası dengesi, açık ekonomide çarpan, net ihracat, devalüasyon ve revalüasyon, Marshall-Larner koşulu ve J eğrisi Ödemeler Bilançosu Analizi, İç ve diş dengenin birlikte analizi (IS-LM-BP) Modeli, |
| No | Program Requirements | Level of Contribution | |||||
|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | Obtains information about the basic concepts and theories available in the business. | ✔ | |||||
| 2 | The system can recognize and interact with its surroundings in the entity is within the scope of the approach. | ✔ | |||||
| 3 | Your area has the ability to transfer information about the employees and colleagues. | ✔ | |||||
| 4 | Interpret the data obtained through the use of information in the field of business, to analyze, has the ability to define problems. | ✔ | |||||
| 5 | Makes matters relating to the field of research and study. | ✔ | |||||
| 6 | Participate and take responsibility for the project meets the objectives of the projects. | ✔ | |||||
| 7 | Critically evaluates the acquired knowledge and skills. | ✔ | |||||
| 8 | Understands the need for continuity of learning | ✔ | |||||
| 9 | Required by the field of information and communication technologies. | ✔ | |||||
| 10 | Information in a foreign language tracks and communicates with colleagues. | ✔ | |||||
| 11 | Understands the importance of ethics in business and society. | ✔ | |||||
| 12 | Understands the importance of innovation and entrepreneurship. | ✔ | |||||
| 13 | Social rights, social justice, quality and cultural values, environmental protection, occupational health and safety issues are conscious. | ✔ | |||||
| Program Requirements | DK1 | DK2 | DK3 |
|---|---|---|---|
| PY1 | 5 | 5 | 5 |
| PY2 | 5 | 5 | 5 |
| PY3 | 5 | 5 | 5 |
| PY4 | 5 | 5 | 5 |
| PY5 | 5 | 5 | 5 |
| PY6 | 3 | 3 | 3 |
| PY7 | 5 | 5 | 5 |
| PY8 | 5 | 5 | 5 |
| PY9 | 5 | 5 | 5 |
| PY10 | 2 | 2 | 2 |
| PY11 | 1 | 1 | 1 |
| PY12 | 4 | 4 | 4 |
| PY13 | 5 | 5 | 5 |
| Ders Kitabı veya Notu | Ders Kitabı veya Ders Notu bulunmamaktadır. |
|---|---|
| Diğer Kaynaklar |
|
| ECTS credits and course workload | Quantity | Duration (Hour) | Total Workload (Hour) | |
|---|---|---|---|---|
|
Ders İçi |
Class Hours | 14 | 3 | 42 |
|
Ders Dışı |
Preparation, After Class Study | 14 | 2 | 28 |
| Research | 5 | 3 | 15 | |
|
Sınavlar |
Midterm 1 | 1 | 10 | 10 |
| Homework 1 | 5 | 3 | 15 | |
| Homework 2 | 5 | 3 | 15 | |
| Final | 1 | 1 | 1 | |
| Classroom Activities | 3 | 0.5 | 1.5 | |
| Total Workload | 127.5 | |||
| *AKTS = (Total Workload) / 25,5 | ECTS Credit of the Course | 5.0 | ||
