ECON 202 | Course Introduction and Application Information

Course Name
Theory of Macroeconomics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 202
Spring
3
0
3
6

Prerequisites
  ECON 102 To succeed (To get a grade of at least DD)
Course Language
English
Course Type
Required
Course Level
First Cycle
Course Coordinator
Course Lecturer(s)
Assistant(s) -
Course Objectives Macroeconomics studies relationships among aggregate economic variables, such as output, consumption, investment, savings, employment and inflation. This course is designed to teach intermediate level macroeconomics, based on a Keynesian approach.
Learning Outcomes The students who succeeded in this course;
  • Will be able to explain the theories, concepts, and the role of Keynesian macroeconomics.
  • Will be able to evaluate implications of equilibrium conditions in three sets of markets: the goods market, the financial market, and the labor market
  • Will be able to explain short run movements in the ouput through the IS-LM model
  • Will be able to interpret AS/AD model to understand movements in output and price both in the short run and in the medium run.
  • Will be able to explain the determinants of growth and the reasons for the growth and standard of living disparities across countries.
  • Will be able to evaluate the macroeconomic implications of openness.
Course Content The course builds on one model that draws the implications of equilibrium conditions in three sets of markets: the goods market, the financial market and the labor market. The course begins with an introduction to subject of macroeconomics, and national income accounting. It continues with a study of the closed economy version of Keynesian macroeconomics under fixed price (IS/LM analysis) and variable prices (AD/AS analysis). Then, the course focuses on the long run and develops a model of economic growth. The course closes with an extension, the open economy version of Keynesian macroeconomics, including a Mundell Fleming analysis.

 



Course Category

Core Courses
Major Area Courses
X
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction Chapter 1 in OB and Chapter 1 in HY
2 Measurement of Aggregates Chapter 2 in OB and Chapter 1 in HY
3 Goods Market Chapter 3 in OB and Chapters 2 and 3 in HY
4 Financial Markets Chapter 4 in OB and Chapters 2 and 3 in HY
5 IS LM Model Chapter 5 in OB and Chapters 2 and 3 in HY
6 Midterm Exam I
7 The Labor market Chapter 6 in OB and Chapter 5 in HY
8 AD/AS Model Chapter 7 in OB and Chapter 6 in HY
9 NAIRU and the Phillips Curve Chapter 8 in OB and Chapter 6 in HY
10 Midterm Exam II
11 The Facts of Growth - Saving, capital accumulation, and output Chapter 10-11 in OB
12 Technological Progress and growth Chapters 12-13 in OB
13 Open economy Chapters 18-19 in OB and Chapter 8 in HY
14 Open economy Chapters 18-19 in OB and Chapter 8 in HY
15 Review of the semester
16 Review of the Semester  

 

Course Textbooks Oliver Blanchard (OB), David R. Johson, Macroeconomics Pearson Prentice Hall, Seventh Edition 2017.
References Hakan Yetkiner (HY), Sorularla Makro İktisat (Macroeconomics in Questions), Efil Yayınları, February 2010, First Edition.

 

EVALUATION SYSTEM

Semester Requirements Number Percentage
Participation
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Homework / Assignments
5
20
Presentation / Jury
Project
Seminar / Workshop
Portfolios
Midterms / Oral Exams
2
40
Final / Oral Exam
1
30
Total

Contribution of Semester Work to Final Grade
65
Contribution of Final Work to Final Grade
35
Total

ECTS / WORKLOAD TABLE

Activities Number Duration (Hours) Workload
Course Hours
Including exam week: 16 x total hours
16
3
48
Laboratory / Application Hours
Including exam week: 16 x total hours
16
Study Hours Out of Class
16
3
Field Work
Quizzes / Studio Critiques
Homework / Assignments
5
4
Presentation / Jury
Project
Seminar / Workshop
Portfolios
Midterms / Oral Exams
2
22
Final / Oral Exam
1
41
    Total
201

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Qualifications / Outcomes
* Level of Contribution
1
2
3
4
5
1 To have a sound knowledge of the quantitative and qualitative methods that will help to examine the premises of different theories for an applied subject so that a contribution to solving current economic problems can be made. X
2 To have the experience of writing, using software, and doing presentations in the newspapers, magazines, meetings, panels, and in equivalent virtual platforms (internet), in order to share their accumulated knowledge and problem solving ability acquired during their education.
3 To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.
4 To have adequate social responsibility and awareness with regards to the needs of the society and to have sufficient experience and qualifications to organize and support the activities to influence the social dynamics in line with the social goals.
5 To be able to integrate the knowledge and training acquired during the university education with personal and work experience and produce a synthesis of knowledge she requires.
6 To have the ability to evaluate his/her advance (post graduate) level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.
7 To have sufficient practical and theoretical knowledge base in order to define the economic agents and their interaction both in the national and global level, to process economic data and to implement scientific research for development of economic policies. X
8 Keeping in mind that economics is a social science, to have the skills to integrate social dynamics into economic process both as an input and an output and to be open to theoretical innovations in this direction. X
9 To associate accumulated knowledge acquired during the university education with historical and cultural qualities of the society and to convey it to different groups.
10 To be able to follow knowledge and change in economics and communicate with colleagues in a foreign language. X
11 To possess social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis. X
12 To have advanced level of speaking and writing skills of a second foreign language to support continuation of post graduate professional and individual development

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest