| 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 |
|
|||||||
| Course Language |
English
|
|||||||
| Course Type |
Required
|
|||||||
| Course Level |
First Cycle
|
|||||||
| Mode of Delivery | - | |||||||
| Teaching Methods and Techniques of the Course | - | |||||||
| National Occupation Classification | - | |||||||
| Course Coordinator | ||||||||
| Course Lecturer(s) | ||||||||
| Assistant(s) | ||||||||
| Course Objectives | This course provides theoretical and policy foundations of Keynesian macroeconomics. On the theoretical side, the course (i) develops a solid understanding of Keynesian macroeconomic theory, focusing on aggregate demand, consumption, investment, and government expenditure, and (ii) explore the IS-LM model as a central analytical tool for understanding short-run fluctuations and policy interventions. On the policy side, the course examines the role of fiscal and monetary policy in stabilizing output, employment, and inflation. These objectives balance rigor and policy relevance, keeping the Keynesian spirit alive by emphasizing demand-side management and government intervention. |
| Learning Outcomes |
The students who succeeded in this course;
|
| Course Description | This intermediate course offers a comprehensive study of macroeconomic theory and policy from a Keynesian perspective. Building on foundational concepts, it highlights the significance of aggregate demand, investment, consumption, and government spending in determining economic performance. Students will engage with the IS-LM framework, explore fiscal and monetary instruments, and analyze issues such as unemployment, inflation, and output fluctuations. Key topics include National Income and Product Accounts (NIPA), the simple Keynesian model, the multiplier mechanism, IS-LM analysis, expansionary and contractionary policy measures, stabilization strategies, the Phillips curve, aggregate demand–aggregate supply (AD-AS) analysis, and Keynesian equilibrium in an open economy setting. |
| Related Sustainable Development Goals |
|
|
Core Courses | |
| Major Area Courses |
X
|
|
| Supportive Courses | ||
| Media and Management Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Related Preparation |
| 1 | Introduction | Chapter 1 in OB and CN&E |
| 2 | Measurement of Aggregates | Chapter 2 in OB and CN&E |
| 3 | The Goods Market | Chapter 3 in OB and CN&E |
| 4 | The Goods Market | Chapter 3 in OB and CN&E |
| 5 | Financial Markets I | Chapter 4 in OB and CN&E |
| 6 | The IS-LM Model | Chapter 5 in OB and CN&E |
| 7 | The IS-LM Model | Chapter 5 in OB and CN&E |
| 8 | Midterm Exam | |
| 9 | Financial Markets II | Chapter 6 in OB and CN&E |
| 10 | The Labor market | Chapter 7 in OB and CN&E |
| 11 | The Phillips Curve and the NAIRU | Chapter 8 in OB and CN&E |
| 12 | The Phillips Curve and the NAIRU | Chapter 8 in OB and CN&E |
| 13 | The AD-AS Model (The IS-LM-PC Model) | Chapter 9 in OB and CN&E |
| 14 | Openness in Goods and Financial Markets | Chapters 17 in OB and CN&E |
| 15 | BAYRAM WEEK | BAYRAM WEEK |
| 16 | The Goods Market in an Open Economy | Chapter 18 in OB and CN&E |
| Course Notes/Textbooks | Olivier Blanchard (OB), Macroeconomics, Pearson Prentice Hall, Eight Edition 2021, ISBN-13: 978-1-292-35147-6 Course Notes and Exercises (CN&E) by Hakan Yetkiner |
| Suggested Readings/Materials |
| 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 |
| 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
|
4
|
64
|
| 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
|
34
|
34
|
| Final Exam |
1
|
34
|
34
|
| Total |
180
|
|
#
|
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. |
-
|
-
|
-
|
-
|
-
|
|
| 11 |
To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1) |
-
|
-
|
-
|
-
|
-
|
|
| 12 |
To be able to speak a second foreign language 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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