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| IKT2002 | Macro Economics - II | 3+0+0 | ECTS:6 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of ECONOMICS | | Prerequisites and co-requisites | None | | Mode of Delivery | Face to face | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Doç. Dr. Osman Murat TELATAR | | Co-Lecturer | PROF. DR. ERSAN BOCUTOĞLU | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | To develop skills of the students in understanding undergraduate topics on macroeconomics. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | learn the terminology of macroeconomics. | 1,2 | 1, | | LO - 2 : | understand the body of macroeconomic theory. | 1,2 | 1, | | LO - 3 : | comparate the basic schools of thought in modern macroeconomics | 1,2 | 1, | | LO - 4 : | analyze current economics events and macroeconomic issues. | 1,2 | 1, | | LO - 5 : | discuss the impact of fiscal and monetary policy. | 1,2 | 1, | | 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), LO : Learning Outcome | | |
| Comparative macroeconomic theories (classical macro theory, Keynesian macro theory, monetarist macro theory, new classical macro theory, real business cycle theory, new Keynesian macro theory, and the other macroeconomics schools) |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | The classical macro theory, introduction, Classical's main propositions, employment and output determination, Say Law, the quantity theory of money | | | Week 2 | Policy implications of the classical equilibrium model,monetary policy, fiscal policy | | | Week 3 | The keynesian macro theory,introduction, Keynes's General Theory, Keynes's main propositions, Keynes's anaysis of the labour market, Keynes's rejection of Say's Law, Keynes and the quantity theory of money, three interpretation of Keynes's General Theory | | | Week 4 | The orthodox keynesian school, introduction, orthodox keynesian school and the reinterpretation of Keynes, the IS-LM model, money market equilibrium, product market equilibrium, underemployment equilibrium in the Keynesian model | | | Week 5 | The monetarist macro theory,introduction, the reformulation of the quantity theory of monetary, monetary and fiscal policy, the expectations-augmented Phillips curve | | | Week 6 | The monetarist macro theory, the expectations-augmented Phillips curve analysis, the monetary approach to balance of payments theory and exchange rate determination | | | Week 7 | The new classical macro theory, introduction, the structure of new classical macro model, the rational expectations hypothesis | | | Week 8 | The new classical macro theory, implications of the rational expectations hypothesis, the policy implications of the new classical macro theory, monetary and fiscal policy | | | Week 9 | Mid-term exam | | | Week 10 | The reel business cycle theory, giriş, main propositions,the transition from monetary to real business cycle theory, reel business cycle theory in historical perspective, cycles versus random walks, supply-side shocks, reel business cycle theory | | | Week 11 | The reel business cycle theory, the reel business cycle aggregate demand and aggregate supply model, the policy implications of real business cycle theory, neutrality of money | | | Week 12 | The new keynessian theory, introduction, main propositions and features of new keynesian theori, nominal and real rigidities, hysteresis effects and unemployment | | | Week 13 | The new keynessian theory and its policy implications, monetary policy, fiscal policy | | | Week 14 | The Austrain school, introduction, the Austrain school and business fluctuations, the Mises-Hayek model, the Austrain critique of rational expectations | | | Week 15 | The Post-keynesian school, introduction,common themes, the post-keynesian critique of rational expectations, comparing the Austrain and post-keynesian schools | | | Week 16 | End-of-term exam | | | |
| 1 | Ünsal, E. M. 2007; Makro İktisat, İmaj Yayınları, 7. Baskı, Ankara | | | 2 | Bocutoğlu, E. 2008; Karşılaştırmalı Makro İktisat Teoriler ve Politikalar, Derya Kitabevi, Gözden Geçirilmiş 3. Baskı, Trabzon | | | 3 | Bocutoğlu, E. 2012; Karşılaştırmalı Makro İktisat Teoriler ve Politikalar, Murathan Yayınevi, Gözden Geçirilmiş 5. Baskı, Trabzon | | | |
| 1 | Snowdan, B.; Vane, H.; Wynarczyk, P.1994; A Modern Guide to Macroeconomics An Introduction to Competing Schools of Thought, Edward Elgar Publishing Limited, UK | | | 2 | Snowdan, B.; Vane, H.; Wynarczyk, P. 1994; A Modern Guide to Macroeconomics An Introduction to Competing Schools of Thought, Edward Elgar Publishing Limited, UK | | | 3 | Snowdan, B.; Vane, H.; Wynarczyk, P. 1994; A Modern Guide to Macroeconomics An Introduction to Competing Schools of Thought, Edward Elgar Publishing Limited, UK | | | 4 | Froyen, Richard T. 2005; Macroeconomics Theories and Policies, Eighth Edition, Pearson Prentice Hall, USA. | | | 5 | Froyen, Richard T. 2005; Macroeconomics Theories and Policies, Eighth Edition, Pearson Prentice Hall, USA. | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | | 1 | 50 | | End-of-term exam | 16 | | 1 | 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 | 7 | 14 | 98 | | Arasınav için hazırlık | 3 | 1 | 3 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 5 | 1 | 5 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 150 |
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