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IKT2009Macro Economics3+0+0ECTS:5
Year / SemesterFall Semester
Level of CourseFirst Cycle
Status Compulsory
Prerequisites and co-requisitesNone
Mode of Delivery
Contact Hours14 weeks - 3 hours of lectures per week
LecturerDoç. Dr. İbrahim AL
Co-LecturerProf. Dr. Adem KALÇA
Language of instructionTurkish
Professional practise ( internship ) None
The aim of the course:
To develop skills of the students in understanding undergraduate topics on macroeconomics.
Learning OutcomesCTPOTOA
Upon successful completion of the course, the students will be able to :
LO - 1 : identify some of the fundemantel economic concepts.1,2
LO - 2 : understand and evaluate the assumption and body of macroeconomic theory.1,2
LO - 3 : formulate appropriate government policy responses to economic instability through fiscal and monetary policy.1,2
LO - 4 : analyze current economic events and macroeconomic issues.1,2
LO - 5 : use simple models to show the impact of fiscal and monetary policy.1,2
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

Contents of the Course
National accounting system, real and nominal GNP, inflation and unemployment, microeconnomics behind macroeconomics, monetary policy, closed and open basic Keynesian models, closed and open IS-LM models, aggregate demand-aggregate supply model, business cycle theories, growth theories
Course Syllabus
 WeekSubjectRelated Notes / Files
 Week 1Measuring the value of economic activity, gross domestic product(GDP), rules for computing GDP, real and nominal GDP, the GDP deflator, other measures of income
 Week 2Measuring the cost of living, price indexes, consumer price index, producers price index, implicit price index, measuring inflation rates
 Week 3Unemployment, measuring of joblessness, unemployment rate, GDP, and Okun's Law
 Week 4Microeconnomics behind macroeconomics, consumption, Keynes and the consumption function, Fisher and intertemporal choice, Modigliani and the life-cycle hypothesis, Friedman and parmanent-income hypothesis
 Week 5Microeconnomics behind macroeconomics, investment, fixed investment, residential investment, inventory investment
 Week 6Money supply, the definition of money, the functions of money, components of money supply
 Week 7Demand for money, transactions, precautionary, and speculative demand for money, the theories of money demand
 Week 8Monetary policy, instuments of monetary policy, strategies of monetary policy, fiscal policy, instruments of fiscal policy
 Week 9Mid-term exam
 Week 10The Keynesian systems, the simple Keynesian model, the components of aggregate demand, determining equilibrium income, changes in equilibrium income, the multiplier, exports and imports in the simple Keynesian mode
 Week 11The Keynesian systems, the IS-LM model, money market equilibrium and LM curve, product market equilibrium and IS curve, analyze of IS and LM curves together, equilibrium in the IS-LM model, analysis of fiscal and monetary policy in the IS-LM model
 Week 12The Keynesian systems, monetary and fiscal policy in open economy, the Mundell-Fleming model, imperfect capital mobility, perfect capital mobility, quiz
 Week 13The Keynesian systems, aggregate supply curve, aggregate demand curve, wage rigidity, model equilibrium, aggregate supply and demand analysis, shifts on supply and demand curves
 Week 14Business cycle theories, introduction to economic fluctuations, shocks to aggregate demand, shocks to aggregate supply, monetary and fiscal policy in business cycle theory
 Week 15Growth theories, the accumulation of capital, the golden rule capital level, population growth, the Solow growth model, endogenous growth theory
 Week 16End-of-term exam
Textbook / Material
1Ünsal, M. Erdal. 2017; Makro İktisat, 11.Baskı, Murat Yayınları, Ankara
Recommended Reading
1Dornbusch, R., Fischer, S., Startz, R. 2016; Makroiktisat, 12. Baskıdan Çeviri, Literatür Yayınları, İstanbul
2Berber, Metin. 2016; Makro İktisat, Celepler Yayın Dağıtım, Trabzon
3Acemoğlu, D., Laibson, D., List, J.A. 2016; Makroekonomi, Beta Yayınları, İstanbul
4Mankiw, N. G. 2010; Makroekonomi, 1. Baskı, Efil Yayınevi, Ankara
5Yalta, A. T., Yalta, A. Y. 2021; 3. Baskı, Adres Yayınları, Ankara.
Method of Assessment
Type of assessmentWeek NoDate

Duration (hours)Weight (%)
Mid-term exam 9 /11/2023 1 50
End-of-term exam 16 /01/2024 1 50
Student Work Load and its Distribution
Type of workDuration (hours pw)

No of weeks / Number of activity

Hours in total per term
Yüz yüze eğitim 3 14 42
Sınıf dışı çalışma 4 14 56
Arasınav için hazırlık 8 2 16
Arasınav 1 1 1
Dönem sonu sınavı için hazırlık 11 3 33
Dönem sonu sınavı 2 1 2
Total work load150