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| Course Description |
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| Course Name |
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Macroeconomics II |
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| Course Code |
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EC 204 |
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| Course Type |
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Compulsory |
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| Level of Course |
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First Cycle |
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| Year of Study |
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2 |
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| Course Semester |
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Spring (16 Weeks) |
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| ECTS |
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6 |
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| Name of Lecturer(s) |
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Assoc.Prof.Dr. M.FATİH CİN
Prof.Dr. E.ALPER GÜVEL
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| Learning Outcomes of the Course |
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Learn Inflationar Gap, Deflationary Gap, General Price Level Adjustment and long run equilibrium.
See differences among the Basic Assumtions of Keynesian, Monetarist, New Classical and New Keynesian Theories.
Analyze Aggregate Supply and Aggregate Demand Framework
Analyze relevancy of active economic policies according to different theories.
Analyze Structure of Labour Market and bargaining process
Gain input in types, determinants and concequences of unemployment and inflation
Analyze the relation between unemployment and inflation rates in the short-run and long-run: Phillips Curve Framework
Analyze the relation between Current National Income and and inflation rate: Dynamic Aggregate Supply and Dynamic Aggregate Demand Framework
Focus on Political Business Cycle Models: Effect of political decisions on business cycles.
Learn Open Economy Macroeconomics: Balance of Payments, Current Account, and Capital Account
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| Mode of Delivery |
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Face-to-Face |
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| Prerequisites and Co-Prerequisites |
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None |
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| Recommended Optional Programme Components |
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None |
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| Aim(s) of Course |
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This is a two-term course which teaches the structure of the economy in terms of aggregate economic variables. We shall begin with Keynesian Aggregate Supply, General Price Level Adjustment and Long Term Equilibrium. In spring semester we will explain the assumptions underlying Keynesian, Monetarist, New Classical and New Keynesian Macroeconomic Theories. We will also analyze the effects of economic policies, especially the effects of monetary policy on real economic variables like employment and Current National Income according to these theories. We will also explain the relation between unemployment and inflation rates by using Phillips Curve. Then we will analyze the relation between inflation rate and Current National Income by using Dynamic Aggregate Supply and Dynamic Aggregate Demand Framework. We will also analyze the effect of political decisions on economic policies and outcomes. Our last subject will be macroeconomics for open economies. |
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| Course Contents |
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Inflationar Gap, Deflationary Gap, General Price Level Adjustment and long run equilibrium, differences among the Basic Assumtions of Keynesian, Monetarist, New Classical and New Keynesian Theories, Aggregate Supply and Aggregate Demand Framework, Relevancy of active economic policies according to different theories. Structure of Labour Market and bargaining process , Types, determinants and concequences of unemployment and inflation, The relation between unemployment and inflation rates in the short-run and long-run: Phillips Curve Framework, The relation between Current National Income and inflation rate: Dynamic Aggregate Supply and Dynamic Aggregate Demand Framework, Political Business Cycle Models: Effect of political decisions on business cycles. Open Economy Macroeconomics: Balance of Payments, Current Account, and Capital Account
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| Language of Instruction |
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Turkish |
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| Work Place |
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Faculty Classroom |
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Course Outline /Schedule (Weekly) Planned Learning Activities |
| Week | Subject | Student's Preliminary Work | Learning Activities and Teaching Methods |
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1 |
KEYNESIAN MACROEOCONOMICS AND LONG TERM EQUILIBRIUM |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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2 |
MONETARIST MACROECONOMICS AND AGGREGATE SUPPLY CURVE |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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3 |
MONETARIST MACROEOCONOMICS AND ECONOMIC POLICIES |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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4 |
NEW CLASSICAL MACROECONOMICS AND AGGREGATE SUPPLY CURVE |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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|
5 |
NEW CLASSICAL MACROEOCONOMICS AND IRRELEVANCY OF ECONOMIC POLICIES |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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6 |
NEW KEYNESIAN MACROECONOMICS: LABOUR MARKET AND COMMODITY MARKETS |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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7 |
NEW KEYNESIAN MACROECONOMICS AND ECONOMIC POLICIES |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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8 |
MID-TERM EXAM |
prepare to exam |
written exam |
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9 |
INFLATION AND UNEMPLOYMENT: PHILLIPS CURVE |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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10 |
KEYNESIAN MACROEOCONOMICS, MONETARIST MACROECONOMICS, PHILLIPS CURVE AND ECONOMIC POLICIES |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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11 |
NEW CLASSICAL MACROECONOMICS, NEW KEYNESIAN MACROECONOMICS, PHILLIPS CURVE AND ECONOMIC POLICIES |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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12 |
DEMOCRACY AND ECONOMY: POLITICAL BUSINESS CYCLES |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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13 |
DYNAMIC AGGREGATE SUPPLY-DYNAMIC AGGREGATE DEMAND FRAMEWORK - I |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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14 |
DYNAMIC AGGREGATE SUPPLY-DYNAMIC AGGREGATE DEMAND FRAMEWORK - II |
Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture
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15 |
THE OPEN ECONOMY MACROECONOMICS
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Students will be prepared by studying relevant subjects from source books according to weekly program |
Lecture |
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16/17 |
FINAL EXAM |
prepare to exam |
written exam |
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Required Course Resources |
| Resource Type | Resource Name |
| Recommended Course Material(s) |
 G. MANKIW. Macro Economics
DORNBUSH-FISCHER
Prof.Dr.E.Alper Güvel, Makro Ekonomi-II,2011,Karahan Kitabevi
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| Required Course Material(s) | |
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Assessment Methods and Assessment Criteria |
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Semester/Year Assessments |
Number |
Contribution Percentage |
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Mid-term Exams (Written, Oral, etc.) |
1 |
60 |
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Homeworks/Projects/Others |
0 |
40 |
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Total |
100 |
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Rate of Semester/Year Assessments to Success |
40 |
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Final Assessments
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100 |
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Rate of Final Assessments to Success
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60 |
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Total |
100 |
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| Contribution of the Course to Key Learning Outcomes |
| # | Key Learning Outcome | Contribution* |
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1 |
Explain the importance of demand and supply in economy science and the well-running conditions of the market economy |
1 |
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2 |
Define the role of pricing within the event advantage of the market economy. |
1 |
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3 |
Define the role of the state in economy, money and financial policies, the central bank and the structure of the market. |
5 |
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4 |
Perceive the costs and benefits arising from the global economy |
4 |
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5 |
Produce numerical and policy options when confronted with problems. |
4 |
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6 |
Use quantitative and qualitative techniques of model building, decoding and interpretation. |
3 |
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7 |
Use the theory of economics in the analysis of economic events. |
5 |
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8 |
Use computer programs, do synthesis and present prepared data efficiently. |
1 |
|
9 |
Apply the methods of economic analysis. |
4 |
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10 |
Analyze at conceptual level and acquires ability in comparing, interpreting, evaluating and synthesizing in order to develop solutions to problems |
4 |
|
11 |
Take responsibility individually and / or in a team, take leadership and work effectively. |
1 |
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12 |
Follow innovative developments in the field being aware of the necessity of lifelong learning and improving him-/herself.. |
5 |
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13 |
Use of different sources about an unfamiliar field within academic principles, synthesize gained data and presents effectively. |
1 |
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14 |
Use Turkish and at least one foreign language in accordance with the requirements of academic and work life. |
2 |
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15 |
Understand and interpret related people´s feelings, thoughts, and behaviours correctly; expresse him-/herself accurately in written and oral language. |
1 |
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16 |
Question traditional attitudes, applications and methods, develop and apply new methods when needed. |
2 |
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17 |
Recognize and apply social, scientific and professional ethical values. |
3 |
| * Contribution levels are between 0 (not) and 5 (maximum). |
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| Student Workload - ECTS |
| Works | Number | Time (Hour) | Total Workload (Hour) |
| Course Related Works |
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Class Time (Exam weeks are excluded) |
14 |
4 |
56 |
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Out of Class Study (Preliminary Work, Practice) |
14 |
6 |
84 |
| Assesment Related Works |
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Homeworks, Projects, Others |
0 |
0 |
0 |
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Mid-term Exams (Written, Oral, etc.) |
1 |
1 |
1 |
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Final Exam |
1 |
2 |
2 |
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Total Workload: | 143 |
| Total Workload / 25 (h): | 5.72 |
| ECTS Credit: | 6 |
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