TÜRKÇE
ENGLISH
Information
| Unit | FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES |
| BUSINESS ADMINISTRATION PR. (ENGLISH) | |
| Code | ECOZ208 |
| Name | Macroeconomics |
| Term | 2017-2018 Academic Year |
| Semester | 4. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 5 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | İngilizce |
| Level | Lisans Dersi |
| Type | Normal |
| Label | C Compulsory |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. MEHMET FATİH CİN |
| Course Instructor |
Doç. Dr. ERHAN İŞCAN
(Bahar)
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
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.
Course Content
Inflationary 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
Course Precondition
Resources
Notes
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Be familiar with the basic information about the current macro-economic issues and provide their understanding |
| LO02 | Analyze why problems that macroeconomics try to solve are important |
| LO03 | Introduce basic analytical tools of macroeconomics and to show how to use these tools |
| LO04 | Be able to think analytically and explain it to third parties in an effective way |
| LO05 | Evaluate the macroeconomics issues |
| LO06 | Explain the inflation, growth and unemployment |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explaining business concepts and their interrelationships | 4 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Explaining the basic theoretical models, numerical and statistical methods of business management | 4 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Explaining the relationship between basic economics concepts and business management concepts | 5 |
| PLO04 | Bilgi - Kuramsal, Olgusal | Explaining how to apply theoretical, numerical and statistical methods used in business management | |
| PLO05 | Bilgi - Kuramsal, Olgusal | Explaining how to interpret the results obtained as a result of the creation/application of theoretical, numerical and statistical methods used in business management | |
| PLO06 | Bilgi - Kuramsal, Olgusal | Applying business management methods by following the basic steps | |
| PLO07 | Bilgi - Kuramsal, Olgusal | Determine appropriate methods to solve business problems | 4 |
| PLO08 | Beceriler - Bilişsel, Uygulamalı | Evaluate the results that are obtained from applications of business management methods. | 5 |
| PLO09 | Beceriler - Bilişsel, Uygulamalı | Use basic numerical and statistical softwares. | |
| PLO10 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Use basic enterprise resource planning (ERP) softwares | |
| PLO11 | Yetkinlikler - Öğrenme Yetkinliği | Working effectively individually and/or in a team | |
| PLO12 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, constantly renewing itself by following the current developments in the field. | |
| PLO13 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Presenting information effectively in an unfamiliar field by using different sources within the framework of academic rules. | 5 |
| PLO14 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Use Turkish and at least one foreign language in accordance with the prerequisities of academic and business context | |
| PLO15 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Accurately express the obtained information and comments verbally and in writing | |
| PLO16 | Yetkinlikler - Alana Özgü Yetkinlik | Applying new working methods when deemed necessary by questioning traditional approaches, practices and methods | 4 |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Acting in accordance with social, scientific and professional ethical values from an entrepreneurial perspective | |
| PLO18 | Yetkinlikler - Alana Özgü Yetkinlik | Determining the most appropriate business management approaches, practices and methods by considering the sector, size, resources, culture, goals and objectives of the enterprises. | 4 |
| PLO19 | Yetkinlikler - Alana Özgü Yetkinlik | Interpreting the effects of external environmental factors such as sector structure, competition, technology, economy, politics, culture, which affect the activities of businesses, on businesses. | 5 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | National Income Accounting | Course books and updated materials | |
| 2 | Income and Expenditures | Course books and updated materials | |
| 3 | IS-LM Model and Monetary-Fiscal Policy Implementations | Course books and updated materials | |
| 4 | Macroeconomics for Open Economy | Course books and updated materials | |
| 5 | Aggregate Demand and Supply | Course books and updated materials | |
| 6 | Aggregate Demand and Supply | Course books and updated materials | |
| 7 | Inflation-Unemployment | Course books and updated materials | |
| 8 | Mid-Term Exam | Exam | |
| 9 | Consumption and Saving | Course books and updated materials | |
| 10 | Investment | Course books and updated materials | |
| 11 | Money Demand | Course books and updated materials | |
| 12 | Public Finance | Course books and updated materials | |
| 13 | Fiscal Policy | Course books and updated materials | |
| 14 | Central Bank, Money and Credit | Course books and updated materials | |
| 15 | Stability Programs | Course books and updated materials | |
| 16 | Term Exams | Exam | |
| 17 | Term Exams | 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 | 12 | 12 |
| Final Exam | 1 | 18 | 18 |
| Total Workload (Hour) | 114 | ||
| Total Workload / 25 (h) | 4,56 | ||
| ECTS | 5 ECTS | ||