| Economics (English) | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code: | ECO204 | ||||
| Course Name: | Macroeconomics 2 | ||||
| Semester: | Spring | ||||
| Course Credits: |
|
||||
| Language of instruction: | English | ||||
| Course Condition: | |||||
| Does the Course Require Work Experience?: | No | ||||
| Type of course: | Compulsory Courses | ||||
| Course Level: |
|
||||
| Mode of Delivery: | Face to face | ||||
| Course Coordinator: | Doç. Dr. ÇİĞDEM GÜRSOY | ||||
| Course Lecturer(s): | Gökhan Övenç | ||||
| Course Assistants: |
| Course Objectives: | The course aims to cover some case studies and data interpretation since the macroeconomics is also an empirical discipline. Special attention will be given to current developments in the Turkish and the European economy by using some theoretical macroeconomic models. The primary goal of the course is to assist students to develop a consistent way of thinking about key macroeconomic concepts and phenomena. |
| Course Content: | The macroeconomics course is designed to cover the determination of income, output, employment, price level, interest rates and exchange rates in the whole economy. The general economy will be examined through short-run, medium-run and long-run time periods to see the impacts of business cycles, stabilization policies and economic growth. |
|
The students who have succeeded in this course;
1) Get enough knowledge to interpret the AS/AD models. 2) Evaluate the relationship between interest rate, price level, output and employment. 3) Analyse the impacts of any factor changes on the macroeconomic environment using the IS/LM and AS/AD models. 4) Learn how monetary and fiscal policies affect the general macroeconomic environment. |
| Week | Subject | Related Preparation |
| 1) | Modified Phillips Curve and Expectations | |
| 2) | Price and Wage Determination | |
| 3) | Expected and Actual Price and Cost of Production | |
| 4) | Derivation of the Aggregate Supply and Aggregate Demand | |
| 5) | AS/AD Models and Equilibrium in Goods Market | |
| 6) | Short, Medium and Long-Runs in AS/AD Models | |
| 7) | Monetary and Fiscal Policies in AS/AD Models | |
| 8) | MIDTERM | |
| 9) | IS/LM and AS/AD Models Together | |
| 10) | Natural Rate of Output and Technology/Innovation | |
| 11) | Openness in Economy, Interest and Exchange Rate Disparities | |
| 12) | Business Cycles, Output Fluctuations and Case Studies | |
| 13) | Business Cycles, Output Fluctuations and Case Studies | |
| 14) | Review and Summary |
| Course Notes / Textbooks: | Macroeconomics by Gregory Mankiw |
| References: | Macroeconomics: A European Perspective by Olivier Blanchard (Prentice Hall) |
| Course Learning Outcomes | 1 |
2 |
3 |
4 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Program Outcomes | |||||||||||||
| 1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics. | 3 | 3 | 3 | 3 | |||||||||
| 2) They have knowledge and skill about different functions and interactions of economy. | 3 | 3 | 3 | 3 | |||||||||
| 3) They use different theoretical approaches to comprehend and solve various economic problems. | 3 | 3 | 3 | 3 | |||||||||
| 4) They are aware of the needs of society and use their knowledge of economics to meet these needs. | 3 | 3 | 3 | 3 | |||||||||
| 5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy. | 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 | |||||||||
| 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 | |||||||||
| 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 | |||||||||
| 9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship. | 2 | 2 | 2 | 2 | |||||||||
| 10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law. | 2 | 2 | 2 | 2 | |||||||||
| 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 | |||||||||
| 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 | |||||||||
| 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 . | 3 | 3 | 3 | 3 | |||||||||
| 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. | 3 |
| 5) | They have in-depth knowledge on the current issues of the Turkish economy and the global economy. | 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 |
| 7) | Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively. | 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. | 3 |
| 9) | They improve their skills of teamwork, negotiation, leadership and entrepreneurship. | 3 |
| 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. | 2 |
| 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 |
| Homework Assignments | 5 | % 35 |
| Midterms | 1 | % 25 |
| 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 | |||
| Study Hours Out of Class | 14 | 0 | 2 | 28 | |||
| Homework Assignments | 5 | 5 | 1 | 30 | |||
| Midterms | 1 | 15 | 1 | 16 | |||
| Final | 1 | 20 | 1 | 21 | |||
| Total Workload | 151 | ||||||