FACULTY OF BUSINESS

Department of Economics

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
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator -
Course Lecturer(s)
Assistant(s)
Course Objectives Macroeconomics analyzes the links between macroeconomic variables like GDP, consumption, investment, savings, employment, and inflation. This course teaches macroeconomics at the intermediate level with a focus on the Keynesian School.
Learning Outcomes The students who succeeded in this course;
  • explain the concepts, theories and role of (Keynesian) macroeconomics
  • evaluate equilibrium conditions in the goods market, financial market and labor market
  • explain short-term movements in GDP through the IS-LM model
  • interpret the AS/AD model to understand GDP and price movements in both the short and medium term
  • explain the Phillips Curve and the NAIRU
  • knows the differences between open economy and closed economy
Course Description This intermediate-level course covers common macroeconomics themes such as National Income and Product Accounts (NIPA), Simple Keynesian macroeconomic equilibrium, the multiplier process, IS-LM analysis, fiscal policy and monetary policy, expansionary and contractionary policies, stabilization policies, the Phillips curve, AD-AS analysis, Keynesian macroeconomic equilibrium under open economy.

 



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
2 Measurement of Aggregates Chapter 2 in OB
3 Measurement of Aggregates Chapter 2 in OB
4 The Goods Market Chapter 3 in OB
5 The Goods Market Chapter 3 in OB
6 Financial Markets I Chapter 4 in OB
7 The IS-LM Model Chapter 5 in OB
8 The IS-LM Model & Financial Markets II Chapters 5 & 6 in OB
9 Midterm Exam
10 The Labor market Chapter 7 in OB
11 The Phillips Curve and the NAIRU Chapter 8 in OB
12 The Phillips Curve and the NAIRU Chapter 8 in OB
13 The AD-AS Model Chapter 9 in OB
14 Open-economy Chapters 17&18 in OB
15 Semester Review
16 Final Exam

 

Course Notes/Textbooks

Olivier Blanchard (OB), Macroeconomics, Pearson Prentice Hall, Eight Edition 2021, ISBN-13: 978-1-292-35147-6 ISBN-10: 1-292-35147-0

Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
40
Final Exam
1
50
Total

Weighting of Semester Activities on the Final Grade
16
50
Weighting of End-of-Semester Activities on the Final Grade
1
50
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
3
48
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
0
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
20
20
Final Exam
1
20
20
    Total
136

 

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.

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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