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| ITEO5006 | Monetary Policy | 3+0+0 | ECTS:7.5 | | Year / Semester | Spring Semester | | Level of Course | Second Cycle | | Status | Elective | | Department | DEPARTMENT of ECONOMICS | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Doç. Dr. İbrahim AL | | Co-Lecturer | Prof. Dr. Haydar AKYAZI | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The aim of the course is to develop students' ability to understand and analyze monetary policy at the graduate level. |
| Programme Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | PO - 1 : | They will learn advanced monetary policy issues. | 1,2 | 1,3,5, | | PO - 2 : | They will understand monetary policy, central banking and monetary transmission mechanism. | 1,2 | 1,3,5, | | PO - 3 : | They will apply models related to the monetary policy. | 1,2 | 1,3,5, | | PO - 4 : | They will make an analysis between financial and real sectors using various analysis techniques. | 1,2 | 1,3,5, | | PO - 5 : | They will be able to make suggestions regarding monetary policy. | 1,2 | 1,3,5, | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), PO : Learning Outcome | | |
| Monetary policy framework, monetary policy objectives, monetary policy tools, unconventional monetary policy, central bank balance sheet, FED and European Central Bank, monetary strategies and country practices, exchange rate targeting, currency board, monetary targeting, inflation targeting, monetary policy in Turkey since 1923. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Monetary policy framework. | | | Week 2 | Objectives of monetary policy | | | Week 3 | Monetary policy tools | | | Week 4 | The balance sheet of central bank. | | | Week 5 | Federal Reserv System | | | Week 6 | European Central Bank | | | Week 7 | Optimum currency area | | | Week 8 | Financial crisis and monetary policy | | | Week 9 | Midterm exam | | | Week 10 | Monetary strategies and country practices | | | Week 11 | Exchange rate targeting, and monetary targeting | | | Week 12 | Inflation targeting, quiz, or homework presentation | | | Week 13 | Monetary policy practices in Turkey since 1923 | | | Week 14 | Monetary and fiscal policy, real and monetary sectors and IS-LM analysis | | | Week 15 | Macroeconomic general equilibrium analysis: Transfer mechanism according to different economic schools (Keynesian and general equilibrium analysis in the classical system). | | | Week 16 | Final exam | | | |
| 1 | Özatay, F. (2019). Parasal İktisat Kuram ve Politika, Efil Yayınevi, Ankara. | | | |
| 1 | Mishkin, F. S.1986; The Economics of Money, Banking and Finacial Merkets, Little, Brown & Company, USA
| | | 2 | Keyder, N. 2002; para Teori-Politika-Uygulama, Seçkin Yayıncılık ve Dağıtım, Ankara. | | | 3 | Mishkin, F. S. (2014). Para Politikası Stratejisi (Çev: Ö.F. Çolak ve A. Zengin), Efil Yayınevi: Ankara. | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 04.2024 | 2 | 30 | | Homework/Assignment/Term-paper | 12 | 05.2024 | 1 | 20 | | End-of-term exam | 16 | 06.2024 | 2 | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 3 | 14 | 42 | | Sınıf dışı çalışma | 9 | 14 | 126 | | Arasınav için hazırlık | 10 | 2 | 20 | | Arasınav | 2 | 1 | 2 | | Ödev | 3 | 1 | 3 | | Dönem sonu sınavı için hazırlık | 15 | 2 | 30 | | Dönem sonu sınavı | 2 | 1 | 2 | | Total work load | | | 225 |
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