COURSE INFORMATON
Course Title Code Semester L+P Hour Credits ECTS
Macroeconomics II * ECOZ   204 4 3 3 6

Prerequisites and co-requisites
Recommended Optional Programme Components None

Language of Instruction English
Course Level First Cycle Programmes (Bachelor's Degree)
Course Type
Course Coordinator Prof.Dr. Mehmet Fatih CİN
Instructors
Prof.Dr.HÜSEYİN MAHİR FİSUNOĞLU1. Öğretim Grup:A
 
Assistants
Goals
This is a two-term course which teaches the structure of the economy in terms of aggregate economic variables. We shall begin with Keynesian Aggregate Supply, General Price Level Adjustment and Long Term Equilibrium. In spring semester we will explain the assumptions underlying Keynesian, Monetarist, New Classical and New Keynesian Macroeconomic Theories. We will also analyze the effects of economic policies, especially the effects of monetary policy on real economic variables like employment and Current National Income according to these theories. We will also explain the relation between unemployment and inflation rates by using Phillips Curve. Then we will analyze the relation between inflation rate and Current National Income by using Dynamic Aggregate Supply and Dynamic Aggregate Demand Framework. We will also analyze the effect of political decisions on economic policies and outcomes. Our last subject will be macroeconomics for open economies.
Content
Inflationar Gap, Deflationary Gap, General Price Level Adjustment and long run equilibrium, differences among the Basic Assumtions of Keynesian, Monetarist, New Classical and New Keynesian Theories, Aggregate Supply and Aggregate Demand Framework, Relevancy of active economic policies according to different theories. Structure of Labour Market and bargaining process , Types, determinants and concequences of unemployment and inflation, The relation between unemployment and inflation rates in the short-run and long-run: Phillips Curve Framework, The relation between Current National Income and inflation rate: Dynamic Aggregate Supply and Dynamic Aggregate Demand Framework, Political Business Cycle Models: Effect of political decisions on business cycles. Open Economy Macroeconomics: Balance of Payments, Current Account, and Capital Account

Learning Outcomes
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Course's Contribution To Program
NoProgram Learning OutcomesContribution
12345
1
Explains Econometric concepts
X
2
Acquires basic Mathematics, Statistics and Operation Research concepts
X
3
Equipped with the foundations of Economics, and develops Economic models
X
4
Describes the necessary concepts of Business
X
5
Models problems with Mathematics, Statistics, and Econometrics
X
6
Estimates the model consistently and analyzes & interprets its results
X
7
Acquires the ability to analyze, benchmark, evaluate and interpret at conceptual levels to develop solutions to problems
X
8
Collects, edits, and analyzes data
X
9
Uses a package program of Econometrics, Statistics, and Operation Research
X
10
Effectively works, take responsibility, and the leadership individually or as a member of a team
X
11
Awareness towards life-long learning and follow-up of the new information and knowledge in the field of study
X
12
Develops the ability of using different resources in the form of academic rules, synthesis the information gathered, and effective presentation in an area which has not been studied
X
13
Uses Turkish and at least one other foreign language, academically and in the business context
14
Good understanding, interpretation, efficient written and oral expression of the people involved
X
15
Improves his/herself constantly by defining educational requirements considering interests and talents in scientific, cultural, art and social fields besides career development
X
16
Questions traditional approaches and their implementation while developing alternative study programs when required
X
17
Recognizes and implements social, scientific, and professional ethic values
X
18
Follows actuality, and interprets the data about economic and social events
X

Course Content
WeekTopicsStudy Materials _ocw_rs_drs_yontem
1 KEYNESIAN MACROEOCONOMICS AND LONG TERM EQUILIBRIUM Students will be prepared by studying relevant subjects from source books according to weekly program
2 MONETARIST MACROECONOMICS AND AGGREGATE SUPPLY CURVE Students will be prepared by studying relevant subjects from source books according to weekly program
3 MONETARIST MACROEOCONOMICS AND ECONOMIC POLICIES Students will be prepared by studying relevant subjects from source books according to weekly program
4 NEW CLASSICAL MACROECONOMICS AND AGGREGATE SUPPLY CURVE Students will be prepared by studying relevant subjects from source books according to weekly program
5 NEW CLASSICAL MACROEOCONOMICS AND IRRELEVANCY OF ECONOMIC POLICIES Students will be prepared by studying relevant subjects from source books according to weekly program
6 NEW KEYNESIAN MACROECONOMICS: LABOUR MARKET AND COMMODITY MARKETS Students will be prepared by studying relevant subjects from source books according to weekly program
7 NEW KEYNESIAN MACROECONOMICS AND ECONOMIC POLICIES Students will be prepared by studying relevant subjects from source books according to weekly program
8 Mid-term exam prepare to exam
9 INFLATION AND UNEMPLOYMENT: PHILLIPS CURVE Students will be prepared by studying relevant subjects from source books according to weekly program
10 KEYNESIAN MACROEOCONOMICS, MONETARIST MACROECONOMICS, PHILLIPS CURVE AND ECONOMIC POLICIES Students will be prepared by studying relevant subjects from source books according to weekly program
11 NEW CLASSICAL MACROECONOMICS, NEW KEYNESIAN MACROECONOMICS, PHILLIPS CURVE AND ECONOMIC POLICIES Students will be prepared by studying relevant subjects from source books according to weekly program
12 DEMOCRACY AND ECONOMY: POLITICAL BUSINESS CYCLES Students will be prepared by studying relevant subjects from source books according to weekly program
13 DYNAMIC AGGREGATE SUPPLY-DYNAMIC AGGREGATE DEMAND FRAMEWORK - I Students will be prepared by studying relevant subjects from source books according to weekly program
14 DYNAMIC AGGREGATE SUPPLY-DYNAMIC AGGREGATE DEMAND FRAMEWORK - II Students will be prepared by studying relevant subjects from source books according to weekly program
15 THE OPEN ECONOMY MACROECONOMICS Students will be prepared by studying relevant subjects from source books according to weekly program
16-17 FINAL EXAM prepare to exam

Recommended or Required Reading
Textbook
Additional Resources