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.
Course Description The students who succeeded in this course;
  • explain the theories, concepts, and the role of Keynesian macroeconomics.
  • evaluate implications of equilibrium conditions in three sets of markets: the goods market, the financial market, and the labor market
  • explain short run movements in the ouput through the IS-LM model
  • interpret AS/AD model to understand movements in output and price both in the short run and in the medium run.
  • explain the determinants of growth and the reasons for the growth and standard of living disparities across countries.
  • evaluate the macroeconomic implications of openness.
Course Content This intermediate course covers standard topics in macroeconomics. The first part of the course develops the Keynesian theory of aggregate output, unemployment, prices, interest rates, inflation, and open economy topics, in the short-run and the medium-run, with discussions of macroeconomic policy issues. The second part of the course develops the fundamental Neoclassical theory of economic growth and discusses the role of physical capital and technology in the long run equilibrium.

 



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 Goods Market Chapter 3 in OB
4 Financial Markets I Chapter 4 in OB
5 The IS-LM Model Chapter 5 in OB
6 The IS-LM Model & Financial Markets II Chapter 5&6 in OB
7 Midterm Exam
8 The Labor Market Chapter 7 in OB
9 The Phillips Curve and the NAIRU Chapter 8 in OB
10 The AD-AS Model Chapter 9 in OB
11 Open economy Chapters 17-18 in OB
12 Open economy Chapters 17-18 in OB
13 The Facts of Growth & Saving, Capital Accumulation, and Output Chapters 10&11 in OB
14 Technological Progress and Growth Chapter 12 in OB
15 Semester Review
16 Final Exam

 

Course Notes/Textbooks

Oliver Blanchard (OB), Macroeconomics, Pearson Prentice Hall, Seventh Edition 2017, ISBN-13: 978-0133780581, ISBN-10: 0133780589

Suggested Readings/Materials Hakan Yetkiner (HY), Sorularla Makro İktisat (Macroeconomics in Questions), Efil Yayınları, February 2010, First Edition.

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
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
50
Weighting of End-of-Semester Activities on the Final Grade
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
Study Hours Out of Class
16
3
Field Work
Quizzes / Studio Critiques
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exam
Midterms
1
30
Final Exam
1
40
    Total
166

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
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. X
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