TÜRKÇE
ENGLISH
Information
| Code | İKT828 |
| Name | Open Economy Macroeconomics |
| Term | 2023-2024 Academic Year |
| Term | Fall and Spring |
| Duration (T+A) | 4-0 (T-A) (17 Week) |
| ECTS | 10 ECTS |
| National Credit | 4 National Credit |
| Teaching Language | Türkçe |
| Level | Doktora Dersi |
| Type | Normal |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | |
| Course Instructor |
1 |
Course Goal / Objective
The main purpose of this course is to reanalyze the main macroeconomic policies and their results in a closed economy in an open economy and thus to reveal whether the results seen in a closed economy are valid in an open economy.
Course Content
Exchange rate market, balance of payments analysis, real and financial flows in open economies, mundell fleming model, monetarist and portfolio approach, international monetary system, international shocks, external debt
Course Precondition
Yok
Resources
Martin Uribe, Stephanie, Schmitt-Grohe, Open Economy Macroeconomics
Notes
Selected Articles
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Be familiar with the basic concepts in an open economy. |
| LO02 | Follow and interpret the developments in the exchange rate. |
| LO03 | Analyze and compare approaches in open economies. |
| LO04 | Understand main institutions in international markets |
| LO05 | Understand the reasons of business cycle in open economies. |
| LO06 | Explain the financial frictions and instability |
| LO07 | Analyze the relationship between savings, investment, interest and foreign debt in open economies. |
| LO08 | Understand the effects of shocks from the rest of the world on the domestic economy |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explains the importance of demand and supply and the conditions of the market economy to work better | 5 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Conducts new research that contributes to science. | 4 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Specifies the role of the market economy, the price advantage of the event. | 5 |
| PLO04 | Bilgi - Kuramsal, Olgusal | Specifies the role of the price advantage in market economy | 5 |
| PLO05 | Bilgi - Kuramsal, Olgusal | Faces with challenges, produces a numerical and policy options. | 4 |
| PLO06 | Bilgi - Kuramsal, Olgusal | Applies the methods of economic analysis. | |
| PLO07 | Bilgi - Kuramsal, Olgusal | Acquires the ability of analyzing in the conceptual level ,compares interprets, evaluates and synthesizes ideas in order to develop solutions to the problems. | 4 |
| PLO08 | Bilgi - Kuramsal, Olgusal | Has the knowledge of quantitative and qualitative techniques used in Economics. | |
| PLO09 | Yetkinlikler - Alana Özgü Yetkinlik | Builds, decodes and interprets models by using quantitative and qualitative techniques | 5 |
| PLO10 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Takes responsibility individually and / or in a team,leads a team and works effectively | |
| PLO11 | Yetkinlikler - Öğrenme Yetkinliği | With the awareness of the necessity of life-long learning, follows the latest developments about his field and improves himself | |
| PLO12 | Bilgi - Kuramsal, Olgusal | Speaks Turkish, and at least one other foreign language in accordance with the requirements of academic and business life. | |
| PLO13 | Yetkinlikler - Öğrenme Yetkinliği | Recognize and apply social, scientific and professional ethical values. | |
| PLO14 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Expresses himself/herself accurately, both orally and in writing. | |
| PLO15 | Beceriler - Bilişsel, Uygulamalı | Publishes original studies in the field of economics in scientific journals. | 5 |
| PLO16 | Beceriler - Bilişsel, Uygulamalı | Knows where and how to find all scientific resources and data with information technologies to do research. | 5 |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Understands the necessity and importance of research in social sciences. | 4 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Exchange rate market | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 2 | International Exchange Rate Parity Conditions | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 3 | Mundel Fleming Model | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 4 | Monetary and portfolio approach | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 5 | International monetary approach | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 6 | Capital accumulation in open economies | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 7 | Business cycles in open economy | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 8 | Mid-term exam | Relevant Chapters | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | Interest rate shocks, productivity shocks, terms of trade shocks | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 10 | Financial instabilities | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 11 | Stabilization policies in open economy I | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 12 | Stabilization policied in open economy II | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 13 | Economic dynamics ofTurkish economy | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 14 | Analyzes of balance of payments in Turkish economy | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 15 | General evaluation I | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 16 | General evaluation II | Relevant Chapter | Öğretim Yöntemleri: Anlatım |
| 17 | Final exam | Relevant Chapter | Ölçme Yöntemleri: Yazılı Sınav |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 4 | 56 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 12 | 168 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 1 | 2 | 2 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 24 | 24 |
| Total Workload (Hour) | 262 | ||
| Total Workload / 25 (h) | 10,48 | ||
| ECTS | 10 ECTS | ||