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Information
| Code | İKT829 |
| Name | Financial Economics |
| Term | 2023-2024 Academic Year |
| Term | Fall and Spring |
| Duration (T+A) | 4-0 (T-A) (17 Week) |
| ECTS | 8 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
Financial Economics topics will be introduced to students within the framework of International Finance. In this research-oriented course, it is aimed to focus on the complementary features of the issues related to the relationship between International Finance and Modern Central Banking. In this course, the relevant literature will be reviewed and analyzed and students will be encouraged to pursue intermediate and advanced studies while increasing their knowledge on these issues. Within the scope of the course, students are also expected to write a country-specific research paper and take this work to relevant platforms.
Course Content
"Financial Economics" course is a course that aims to systematically convey the relevant topics and content to students who want to specialize in topics related to International Finance and Modern Central Banking relations among the PhD program courses in Economics.
Course Precondition
It is expected to have completed the first semester of the Economics PhD program courses and to have basic quantitative skills.
Resources
Alp, H., & Elekdag, S. (2011). The role of monetary policy in Turkey during the global financial crisis. In the Great Recession: Lessons for Central Bankers. The MIT Press, 51-80. Ball, L. (1999).
Notes
Gali, J. (2015). Monetary policy, inflation and the business cycle. Princeton University Press. Harrison, R. (2012). Asset purchase policy at the effective lower bound for interest rates. Bank of England Working Papers, 444. Harrison, R. (2017). Optimal quantitative easing. Bank of England Working Papers, 678. Kolasa, M., & Wesolowski, G. (2018). International spillovers of quantitative easing. European Central Bank Working Papers, 2172. Kuttner, K. (2006). Can central banks target bond prices? National Bureau of Economic Research Working Papers, 12454. Merola, R. (2015). The role of financial frictions during the crisis: An estimated DSGE model. Economic Modelling, 48, 70-82. 90
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | "Financial Economics" course is one of the courses in the PhD program in Economics for students who want to specialize in International Finance and students learn the relevant literature at intermediate and advanced level. |
| LO02 | Students gain the skills to write a research paper and the ability to use quantitative techniques. |
| LO03 | Students are encouraged to write a country-specific research paper and submit this work to relevant academic platforms. |
| LO04 | Students gain the ability to understand and analyze complex economic relationships. |
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. | 4 |
| PLO04 | Bilgi - Kuramsal, Olgusal | Specifies the role of the price advantage in market economy | |
| 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. | |
| PLO08 | Bilgi - Kuramsal, Olgusal | Has the knowledge of quantitative and qualitative techniques used in Economics. | 5 |
| 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 | 5 |
| 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. | 4 |
| PLO16 | Beceriler - Bilişsel, Uygulamalı | Knows where and how to find all scientific resources and data with information technologies to do research. | |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Understands the necessity and importance of research in social sciences. |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Course description and introduction | Reading | Öğretim Yöntemleri: Anlatım |
| 2 | The process of financialization | Reading | Öğretim Yöntemleri: Anlatım |
| 3 | Financial big-bang | Reading | Öğretim Yöntemleri: Anlatım |
| 4 | Central Banks and monetary policy | Reading | Öğretim Yöntemleri: Anlatım |
| 5 | Relations between economic theory and financialization | Reading | Öğretim Yöntemleri: Anlatım |
| 6 | Modern monetary theory | Reading | Öğretim Yöntemleri: Anlatım |
| 7 | Quantitative easing | Reading | Öğretim Yöntemleri: Anlatım |
| 8 | Mid-Term Exam | Prepare to Exam | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | Taylor's Rule | Reading | Öğretim Yöntemleri: Anlatım |
| 10 | Monetary Policy Comparisons in Keynes-Friedman and Lucas | Reading | Öğretim Yöntemleri: Anlatım |
| 11 | Monetary Policies in Developed Countries | Reading | Öğretim Yöntemleri: Anlatım |
| 12 | Monetary Policy in the European Union | Reading | Öğretim Yöntemleri: Anlatım |
| 13 | Far Eastern Countries and Monetary Policies | Reading | Öğretim Yöntemleri: Anlatım |
| 14 | Monetary Policies in Developing Countries | Reading | Öğretim Yöntemleri: Anlatım |
| 15 | Turkish Economy and Monetary Policies | Reading | Öğretim Yöntemleri: Anlatım |
| 16 | Selected Articles I | Reading | Öğretim Yöntemleri: Anlatım |
| 17 | Term Exams | Prepare to Exam | Ölçme Yöntemleri: Yazılı Sınav, Ödev |
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 | 8 | 112 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 2 | 4 | 8 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 24 | 24 |
| Total Workload (Hour) | 212 | ||
| Total Workload / 25 (h) | 8,48 | ||
| ECTS | 8 ECTS | ||