FACULTY OF BUSINESS
Department of Economics
ECON 304 | Course Introduction and Application Information
Course Name |
Monetary Theory and Policy
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
ECON 304
|
Fall/Spring
|
3
|
0
|
3
|
4
|
Prerequisites |
None
|
|||||
Course Language |
English
|
|||||
Course Type |
Elective
|
|||||
Course Level |
First Cycle
|
|||||
Mode of Delivery | - | |||||
Teaching Methods and Techniques of the Course | - | |||||
Course Coordinator | - | |||||
Course Lecturer(s) | ||||||
Assistant(s) |
Course Objectives | To acquaint the students with money basics, monetary policies, inflation, interest, exchange rates theories and practices |
Learning Outcomes |
The students who succeeded in this course;
|
Course Description | This course will explore the theoretical and empirical analysis of the effect of money on economy. The effect of money, credit and liquidity on income, employment, economic growth and inflation will be analyzed. The goals of monetary policy, the methods used to obtain these goals, and the effects of these methods will be discussed. Moreover, issues such as the functioning of monetary policy in international financial system; the relationship of the financial system with the real economy, monetary policy channels (money, bank credit, and balance sheet channels), and reasons and outcomes of inflation will be undertaken. |
|
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 | What Is Money? | Chapter 3 in Mishkin |
2 | Central banks | Chapter 14 in Mishkin |
3 | Money supply process | Chapter 15 in Mishkin |
4 | Tools of Monetary Policy | Chapter 16 in Mishkin |
5 | The Conduct of Monetary Policy: Strategy and Tactics | Chapter 17 in Mishkin |
6 | The Foreign Exchange Market | Chapter 18 in Mishkin |
7 | The International Financial System | Chapter 19 in Mishkin |
8 | Quantity Theory, Inflation, and the Demand for Money | Chapter 20 in Mishkin |
9 | The IS-MP Model and Philips Curve | Chapter 21 in Mishkin |
10 | The Monetary Policy and Aggregate Demand Curves | Chapter 22 in Mishkin |
11 | Aggregate Demand and Supply Analysis | Chapter 23 in Mishkin |
12 | Monetary Policy Theory | Chapter 24 in Mishkin |
13 | The Role of Expectations in Monetary Policy | Chapter 25 in Mishkin |
14 | Transmission Mechanisms of Monetary Policy | Chapter 26 in Mishkin |
15 | Review of the Semester | |
16 | Review of the Semester |
Course Notes/Textbooks | The Economics of Money, Banking, and Financial Markets (12th Edition) by Frederic S. Mishkin
|
Suggested Readings/Materials |
EVALUATION SYSTEM
Semester Activities | Number | Weigthing |
Participation |
15
|
10
|
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | ||
Portfolio | ||
Homework / Assignments |
1
|
20
|
Presentation / Jury | ||
Project | ||
Seminar / Workshop | ||
Oral Exams | ||
Midterm |
1
|
30
|
Final Exam |
1
|
40
|
Total |
Weighting of Semester Activities on the Final Grade |
17
|
60
|
Weighting of End-of-Semester Activities on the Final Grade |
1
|
40
|
Total |
ECTS / WORKLOAD TABLE
Semester Activities | Number | Duration (Hours) | Workload |
---|---|---|---|
Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
0
|
|
Study Hours Out of Class |
16
|
2
|
32
|
Field Work |
0
|
||
Quizzes / Studio Critiques |
0
|
||
Portfolio |
0
|
||
Homework / Assignments |
1
|
10
|
10
|
Presentation / Jury |
0
|
||
Project |
0
|
||
Seminar / Workshop |
0
|
||
Oral Exam |
0
|
||
Midterms |
1
|
10
|
10
|
Final Exam |
1
|
20
|
20
|
Total |
120
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
#
|
Program Competencies/Outcomes |
* Contribution Level
|
||||
1
|
2
|
3
|
4
|
5
|
||
1 | To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field. |
X | ||||
2 | To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies. |
X | ||||
3 | To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently. |
|||||
4 | To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals. |
|||||
5 | To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires. |
|||||
6 | To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically. |
X | ||||
7 | To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output. |
X | ||||
8 | To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society. |
X | ||||
9 | To be able to take the responsibility as an individual and as a team member. |
|||||
10 | To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis. |
X | ||||
11 | To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1) |
X | ||||
12 | To be able to speak a second foreign at a medium level of fluency efficiently. |
|||||
13 | To be able to relate the knowledge accumulated throughout human history to their field of economics. |
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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