| Economics (English) | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code: | ECO014 | ||||
| Course Name: | Monetary Policy and Theory | ||||
| Semester: | Fall | ||||
| Course Credits: |
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| Language of instruction: | English | ||||
| Course Condition: | |||||
| Does the Course Require Work Experience?: | No | ||||
| Type of course: | Departmental Elective | ||||
| Course Level: |
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| Mode of Delivery: | Face to face | ||||
| Course Coordinator: | Doç. Dr. ÇİĞDEM GÜRSOY | ||||
| Course Lecturer(s): | |||||
| Course Assistants: |
| Course Objectives: | This course aims to enable the students to understand basic concepts of monetary economics, monetary policy tools, the effects of monetary policy practices on the economy, the relationship between money and inflation, central banking, the duties and authorities of the CBRT. |
| Course Content: | Definition and functions of money, money supply and money demand, effects of money on economic activity, central banking and monetary policy tools, approaches of different schools of economics, Central Bank of the Republic of Turkey (CBRT) and monetary policy practices in Turkey. |
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The students who have succeeded in this course;
1) Have a basic knowledge of inflation and exchange rate. 2) Comprehend the structure of money demand and money supply. 3) Predict the effects of money created through monetary transmission mechanisms on economy. 4) Learn the risk and maturity structure of interest rates. 5) Analyze central bank balance sheet and its effects. |
| Week | Subject | Related Preparation |
| 1) | INTRODUCTION: The Content and Coverage of the Lecture | |
| 2) | Role and Definition of Money, Its History | |
| 3) | Domestic vs. Foreign Currency, Monetary Aggregates | |
| 4) | Interest Rates, Bond Pricing, Term Structure and Risk Structure of Interest Rates | |
| 5) | Theory of Interest and Demand for Financial Assets | |
| 6) | Supply of Money, Fractional Reserve System and Monetary Base | |
| 7) | Demand for Money | |
| 8) | Central Bank and Central Banking | |
| 9) | Inflation and Money | |
| 10) | Foreign Exchange Systems | |
| 11) | IS-LM General Equilibrium Model in an Open Economy | |
| 12) | Monetary Transmission Mechanism | |
| 13) | Monetary Policy | |
| 14) | Recent Development in Monetary Policy and Theory |
| Course Notes / Textbooks: | Frederic S. Mishkin; The Economics of Money, Banking and Financial Markets, Global Edition, 13th Edition, Pearson, 2021. |
| References: | Selected Articles |
| Course Learning Outcomes | 1 |
2 |
3 |
4 |
5 |
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| Program Outcomes | |||||||||||||
| 1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 2) They have knowledge and skill about different functions and interactions of economy. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 3) They use different theoretical approaches to comprehend and solve various economic problems. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 4) They are aware of the needs of society and use their knowledge of economics to meet these needs. | 2 | 2 | 2 | 2 | 2 | ||||||||
| 5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 6) They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy. | 1 | 1 | 1 | 1 | 1 | ||||||||
| 7) Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 8) They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education. | 2 | 2 | 2 | 2 | 2 | ||||||||
| 9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship. | 1 | 1 | 1 | 1 | 1 | ||||||||
| 10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law. | 1 | 1 | 1 | 1 | 1 | ||||||||
| 11) Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 12) They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 13) They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License . | 2 | 2 | 2 | 2 | 2 | ||||||||
| No Effect | 1 Lowest | 2 Average | 3 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics. | 3 |
| 2) | They have knowledge and skill about different functions and interactions of economy. | 3 |
| 3) | They use different theoretical approaches to comprehend and solve various economic problems. | 3 |
| 4) | They are aware of the needs of society and use their knowledge of economics to meet these needs. | 2 |
| 5) | They have in-depth knowledge on the current issues of the Turkish economy and the global economy. | 2 |
| 6) | They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy. | 2 |
| 7) | Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively. | 2 |
| 8) | They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education. | 2 |
| 9) | They improve their skills of teamwork, negotiation, leadership and entrepreneurship. | 1 |
| 10) | They have universal ethical values, social responsibility awareness and adequate knowledge of business law. | 1 |
| 11) | Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them. | 3 |
| 12) | They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms. | 3 |
| 13) | They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License . | 2 |
| Semester Requirements | Number of Activities | Level of Contribution |
| Attendance | 14 | % 10 |
| Homework Assignments | 5 | % 50 |
| Final | 1 | % 40 |
| total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 60 | |
| PERCENTAGE OF FINAL WORK | % 40 | |
| total | % 100 | |
| Activities | Number of Activities | Preparation for the Activity | Spent for the Activity Itself | Completing the Activity Requirements | Workload | ||
| Course Hours | 14 | 1 | 3 | 56 | |||
| Homework Assignments | 5 | 5 | 2 | 35 | |||
| Final | 1 | 20 | 2 | 22 | |||
| Total Workload | 113 | ||||||