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| Unit | FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES |
| ECONOMETRICS PR. | |
| Code | EKMZ304 |
| Name | Mathematical Economics II |
| Term | 2017-2018 Academic Year |
| Semester | 6. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 4 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | Türkçe |
| Level | Lisans Dersi |
| Type | Normal |
| Label | C Compulsory |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. KENAN LOPCU |
| Course Instructor |
Doç. Dr. ÇİLER SİGEZE GÜNEY
(Bahar)
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
This course is the second part of a two semester sequence designed to provide students with analytical tools and the quantitative techniques of economic analysis. The focus will be largely on the macroeconomic analysis for this semester. To acquire effectively the information presented in class, students who are taking this class are expected to have basic knowledge of calculus (IEM 125-126), linear algebra (IEM 205), macroeconomics (IEC 203-204) and statistics (EM 103-104).The course will present an integrated approach to development of a general equilibrium macroeconomic model of the economy consisting of labor market, commodity market, and money market. We will investigate the response of key macro variables such as output, employment, real wage, inflation and interest rate to exogenous shocks and the role of monetary and fiscal policy under alternative assumptions about expectations. The course will also examine the basic developments in growth theories and provide an introduction to optimal control theory.
Course Content
Subject Matters and Methodology: Review of basic concepts, tools and recent developments in macroeconomics; Static Macroeconomic Models and Comparative static Analysis; Introduction to Dynamic Analysis; Rational Expectations and Alternative Theories of Economic Activity; Introduction to Optimal Control and Basic Growth Models Final examination
Course Precondition
Resources
Notes
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Acquires the essentials of macroeconomic analysis and the mathematical techniques used. |
| LO02 | Performs the comparative static analysis of basic macroeconomic models. |
| LO03 | Learns the basic distinguishing features of dynamic macroeconomic models. |
| LO04 | Understands the dynamic analysis of basic rational expectations models. |
| LO05 | Becomes familiar with the basic analysis of main growth models. |
| LO06 | Acquires the ability to interpret the solutions obtained economically. |
| LO07 | Gains an introductory exposure to the main quantitative techniques (econometrics) used in the empirical analysis of macroeconomic activity and long term growth. |
| LO08 | Students explain rational expectations theory and compare alternative theories of macroeconomic fluctuations. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the basic concepts and theorems in the fields of Econometrics, Statistics and Operations research | 5 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Acquires basic Mathematics, Statistics and Operation Research concepts | 4 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Describes the necessary concepts of Business | |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Equipped with the foundations of Economics, and develops Economic models | 4 |
| PLO05 | Beceriler - Bilişsel, Uygulamalı | Models problems with Mathematics, Statistics, and Econometrics | 5 |
| PLO06 | Beceriler - Bilişsel, Uygulamalı | Analyzes/interprets at the conceptual level to develop solutions to problems | 5 |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Collects/analyses data from reliable data sources for the purpose of study | 3 |
| PLO08 | Beceriler - Bilişsel, Uygulamalı | Interprets the results analyzed with the model | 4 |
| PLO09 | Beceriler - Bilişsel, Uygulamalı | Combines the information obtained from different sources within the framework of academic rules in a field of research | |
| PLO10 | Beceriler - Bilişsel, Uygulamalı | Adapts traditional approaches, practices and methods to a new study when necessary | |
| PLO11 | Beceriler - Bilişsel, Uygulamalı | Uses a package program of Econometrics, Statistics, and Operation Research | |
| PLO12 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Leads by taking responsibility individually and/or within the team | |
| PLO13 | Yetkinlikler - Öğrenme Yetkinliği | In addition to herself/himself professional development, constantly improves in scientific, cultural, artistic and social fields in line with interests and abilities | |
| PLO14 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, it constantly renews itself by following the current developments in its field. | |
| PLO15 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses Turkish and at least one other foreign language, academically and in the business context | |
| PLO16 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Interprets the feelings, thoughts and behaviors of the related persons correctly/expresses himself/herself correctly in written and verbal form | |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Interprets data on current economic and social issues | 5 |
| PLO18 | Yetkinlikler - Alana Özgü Yetkinlik | Applies social, scientific and professional ethical values | 5 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Subject Matters and Methodology | Readings and problem set | |
| 2 | Subject Matters and Methodology | Readings and problem set | |
| 3 | Subject Matters and Methodology | Readings and problem set | |
| 4 | Static Macroeconomic Models and Comparative static Analysis | Readings and problem set | |
| 5 | Static Macroeconomic Models and Comparative static Analysis | Readings and problem set | |
| 6 | Introduction to Dynamic Analysis | Readings and problem set | |
| 7 | Introduction to Dynamic Analysis | Readings and problem set | |
| 8 | Midterm Exam | ||
| 9 | Adaptive Expectations and the Cagan Model | Readings and problem set | |
| 10 | Adaptive Expectations and the Cagan Model | Readings and problem set | |
| 11 | Rational Expectations: Properties and Solution Methods | Readings and problem set | |
| 12 | Alternative Theories of Macroeconomic Fluctuations | Readings and problem set | |
| 13 | Alternative Theories of Macroeconomic Fluctuations | Readings and problem set | |
| 14 | Introduction to Optimal Control and Basic Growth Models | Readings and problem set | |
| 15 | Introduction to Optimal Control and Basic Growth Models | Readings and problem set | |
| 16 | Final Exam | ||
| 17 | Final Exam |
Assessment (Exam) Methods and Criteria
| Assessment Type | Midterm / Year Impact | End of Term / End of Year Impact |
|---|---|---|
| 1. Midterm Exam | 100 | 40 |
| General Assessment | ||
| Midterm / Year Total | 100 | 40 |
| 1. Final Exam | - | 60 |
| Grand Total | - | 100 |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 3 | 42 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 3 | 42 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 7 | 7 |
| Final Exam | 1 | 18 | 18 |
| Total Workload (Hour) | 109 | ||
| Total Workload / 25 (h) | 4,36 | ||
| ECTS | 4 ECTS | ||