TÜRKÇE
ENGLISH
Information
| Unit | FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES |
| ECONOMICS PR. (ENGLISH) | |
| Code | ECOZ308 |
| Name | Monetary Theory |
| Term | 2026-2027 Academic Year |
| Semester | 6. Semester |
| Duration (T+A) | 4-0 (T-A) (17 Week) |
| ECTS | 5 ECTS |
| National Credit | 4 National Credit |
| Teaching Language | İngilizce |
| Level | Belirsiz |
| Type | Normal |
| Label | C Compulsory |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. HARUN BAL |
| Course Instructor |
The current term course schedule has not been prepared yet.
|
Course Goal / Objective
To examine the role of money in the economy, the functions of central banking, and the impact of monetary policy on macroeconomic variables like inflation and output.
Course Content
This course analyzes the supply and demand for money, transmission mechanisms of monetary policy, and various theoretical frameworks from Classical to New Keynesian perspectives.
Course Precondition
Macroeconomics
Resources
The Economics of Money, Banking and Financial Markets, Frederic Mishkin.
Notes
The Economics of Money, Banking and Financial Markets, Frederic Mishkin.
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Understand the creation of money and the role of the central bank. |
| LO02 | Compare different monetary theories (Quantity Theory, Keynesian, etc.). |
| LO03 | Analyze the relationship between money supply, interest rates, and inflation. |
| LO04 | Evaluate the effectiveness and tools of modern monetary policy. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the importance of demand and supply in economy sciece and the well-running conditions of the market economy | 3 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Define the role of pricing within the event advantage of the market economy | |
| PLO03 | Bilgi - Kuramsal, Olgusal | Define the role of the state in economy, money and financial policies, the central bank and the structure of the market | 4 |
| PLO04 | Bilgi - Kuramsal, Olgusal | Perceive the costs and benefits arising from the global economy | |
| PLO05 | Bilgi - Kuramsal, Olgusal | Produce nymerical and policy options when confronted with problems | 4 |
| PLO06 | Bilgi - Kuramsal, Olgusal | Use quantitative and qualitative techniques of model building, decoding and interpretation | |
| PLO07 | Bilgi - Kuramsal, Olgusal | Use the theory of economics in the analysis of economic events | 4 |
| PLO08 | Bilgi - Kuramsal, Olgusal | Use computer programs, do synthesis and present prepared data efficiently | |
| PLO09 | Bilgi - Kuramsal, Olgusal | Apply the methods of economic analysis. | 4 |
| PLO10 | Bilgi - Kuramsal, Olgusal | Analyze at conceptual level and aquire abiliy in comparing, interpreting, evaluating and synthesizing in order to develop solutions to problems | |
| PLO11 | Bilgi - Kuramsal, Olgusal | Take responsibility individually and/or in a team, take leadership and work effectively | |
| PLO12 | Beceriler - Bilişsel, Uygulamalı | Follow innovative developments in the field being aware of the necessity of lifelong learning and improving him-/herself | 3 |
| PLO13 | Beceriler - Bilişsel, Uygulamalı | Use of different sources about an unfamiliar field within academic principles, synthesize gained data and present effectively | |
| PLO14 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Use Turkish and at least one foreign language in accordance with the requirements of academic and work life | |
| PLO15 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Understand and interpret related peoples´ feelings, thoughts and behaviours correctly; express him-/herself accurately in written and oral language | 4 |
| PLO16 | Yetkinlikler - Öğrenme Yetkinliği | Question traditional approaches, practices and methods. | 4 |
| PLO17 | Yetkinlikler - Öğrenme Yetkinliği | Recognize and apply social, scientific and professional ethical values. |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Introduction: Definition and functions of money. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 2 | Money Supply Process: Role of banks and central banks. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 3 | Classical Monetary Theory: Quantity Theory of Money. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 4 | Keynesian Theory: Liquidity Preference and money demand. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 5 | Post-Keynesian & Monetarism: Friedman's approach. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 6 | Interest Rates: Term structure and risk premiums. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 7 | Transmission Mechanisms: How money affects the real economy. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 8 | Mid-Term Exam | Ölçme Yöntemleri: Yazılı Sınav |
|
| 9 | Inflation & Expectations: Adaptive and rational expectations. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 10 | Monetary Policy Tools: Reserve requirements, OMO, and rates. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 11 | Central Bank Independence: Credibility and time inconsistency. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 12 | Inflation Targeting: Frameworks and global applications. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 13 | International Finance: Exchange rate regimes and money. | reading | Ölçme Yöntemleri: Yazılı Sınav |
| 14 | Current Issues: Digital currencies and unconventional policies. | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 15 | General evaluation | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 16 | Term Exams | Ölçme Yöntemleri: Yazılı Sınav |
|
| 17 | Term Exams | 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 | 3 | 42 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 1 | 10 | 10 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 10 | 10 |
| Final Exam | 1 | 10 | 10 |
| Total Workload (Hour) | 128 | ||
| Total Workload / 25 (h) | 5,12 | ||
| ECTS | 5 ECTS | ||