FACULTY OF BUSINESS

Department of Economics

ECON 318 | Course Introduction and Application Information

Course Name
Topics in Macroeconomics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 318
Fall/Spring
3
0
3
5

Prerequisites
  ECON 101 To succeed (To get a grade of at least DD)
and ECON 102 To succeed (To get a grade of at least DD)
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 The course aims to introduce the intermediate macroeconomic concepts and to use both macro and microeconomic analysis to help students understand the way that the modern economy functions. The course intends to show macroeconomics to understand and articulate reasoned views on some of the most pressing policy problems facing our societies such as inequality, financial instability, and environmental degradation. In this course we focus on the behavior of aggregate variables such as income, unemployment, inflation, government spending, taxation, debt, growth and the interaction among the aforementioned aggregate variables. Furthermore, we study how to understand and use data to measure the economy and policy effectiveness.
Learning Outcomes The students who succeeded in this course;
  • Will be able to explain the role of monetary and fiscal policy in the economy.
  • Will be able to establish the link between real-world phenomena and economic concepts and models
  • Will be able to use real-world data, to investigate important policy problems.
  • Will be able to analyze the effect of economic shocks on macroeconomic variables.
  • Will be able to analyze daily economic news in the light of the concepts learned in the class.
Course Description The course content covers macroeconomic issues such as monetary and fiscal policies, unemployment, inflation, growth, interest rate and the relationship between monetary and fiscal policy and economic activities. The course provides students hands-on experience, using real-world data, to investigate important policy problems.

 



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 Capitalism: Welfare, inequality, and environment degregation
2 Empirical Project: Measuring climate change
3 The credit market: Borrowers, lenders, and the interest rate
4 The credit market: Borrowers, lenders, and the interest rate
5 Empirical Project: Credit-excluded households in a developing country
6 Midterm 1
7 Banks, money and financial assets
8 Banks, money and financial assets
9 Empirical Project: Characteristics of banking systems around the world
10 Economic Fluctuations and well-being
11 Unemployment and fiscal policy
12 Empirical Project: Measuring well-being
13 Midterm 2
14 Project Presentations
15 Review of the Semester  
16 Review of the Semester  

 

Course Notes/Textbooks N. Gregory Mankiw, Macroeconomics, sixth edition 2007, published by Thomson Southwestern (ISBN 0324171919)
Suggested Readings/Materials Robert J. Barro, Macroeconomics, fifth edition, published by The MIT presss, Cambridge , Massachusetts (ISBN: 0262024365) William Boyes and Michael Melvin, Macroeconomics, fifth edition 2004, published by Houghton Mifflin (ISBN 0618127941)Gary. E. Clayton and Martin G. Giesbrecht, A Guide to Everyday Economic Statistics, sixth edition 2004, Published by MacGrawHill (ISBN 0072873299).

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
30
Presentation / Jury
1
30
Project
Seminar / Workshop
Oral Exams
Midterm
Final Exam
1
40
Total

Weighting of Semester Activities on the Final Grade
2
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
20
20
Presentation / Jury
1
20
20
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
0
Final Exam
1
30
30
    Total
150

 

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.

X
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)

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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