GRADUATE SCHOOL

Financial Economics (With Thesis)

Courses


ECON 527  Financial Economics

This course takes the student from the level of microeconomics principles to current theories and topics in financial economics. The course will survey and introduce assetpricing models.. ArrowDebreu and Radner general equilibirium theories are developed and combined with NeumannMorgenstern utility theory. Both static and dynamic models are explored. Asset pricing models with and without arbitrage opportunities are discussed. Asset prcing puzzles are investigated. ModiglianiMiller arguments on capital structure are introduced. Binomial option pricing model is developed.


ECON 507  Economics of Financial Markets

This course will introduce money and financial markets from a practical and applied perspective. Financial and technological innovation will be the focus of the course.


GS 591  Research Design and Methods in Social Sciences

The aim of the course is to deliver a complete understanding of the various research methods used in social sciences, and to establish necessary practical skills required for their application. In this course, students will develop a formal research proposal for a master thesis or term project on a topic related to their individual graduate programs, with the supervision of their advisors, to be presented to the academic staff of the related graduate program.


GS 595  Seminar

Supervisors and students together will evaluate previous research on the basis of rules of academic writing and discuss how to apply skills related to critical reading, understanding, synthesizing and contrasting and comparing. Students will work together with an assigned instructor on a selected area in their discipline. Students are also required to write a paper/report in this seminar.


GS 599  Master Thesis

This course is designed to independently conduct a research and acquire the necessary competencies. Accordingly, a proper research question is identified under the guidance of an advisor, an extensive literature review is made, and a unique hypothesis and research design are determined by taking into consideration the methodologies and gaps in the literature. Within the framework of the research design, the relevant data is collected and a thesis including the theoretical basis, method, results and discussion of the research is written.


Elective Courses


  


BA 560  Financial Accounting

This course aims to set the fundamental basis for the future accounting and finance courses by covering the bookkeeping process and the reporting of the basic financial statements as the balance sheet, income statement, the statement of cash flows, and the statement of stockholder’s equity.


ECON 511  Funds Management in Commercial Banks

The course focuses on treasury management issues of commercial banks.


ECON 514  Speculative Markets

In recent years there has been phenomenal growth in the markets for futures contracts on financial assets, as well as options on these assets. Derivatives enable firms and portfolio managers to hedge a variety of risks. This course introduces the student to forward contracts, futures and options and walks the student through the process of using these instruments to hedge different risks.


ECON 515  Quantitative Methods in Economics and Finance

The course develops economic and financial models using EXCEL.The most widely used financial calculations will be performed in a spreadsheet format using simulated and real world data. Econometric analysis will be undertaken using the regression tool pack in EXCEL. At the end of the course, you will have several financial models in a spreadsheet format that you can modify for future use. Topics covered include NPV, IRR, Bond pricing, duration, option pricing, BlackSholes and binomial option pricing models, value at risk, value of the firm, portfolio risk.


ECON 516  Economics of Risk and Institutional Risk

The course focuses on the fundamentals of risk management and its evolution over time. It focuses on how to define, measure and manage risk by taking the students through a historical journey and introducing the heroes that contributed to the profession, from Bernoulli to Laplace, to Keynes, Kenneth Arrow, the father of risk management and derivatives. Later in the semester the course focuses on modern allocations of risk management with specific emphasis on company balance and bank balance sheets, operations of insurance companies etc. It concludes with tools to manage risk.


ECON 517  Financial Econometrics

The course will mostly be based on Time Series econometric methods. While this is the ideal approach for an introduction to the fundamental methods of quantitative finance, the student should keep in mind that the range of econometric methods that can be used to answer questions related to finance and financial economics spans almost the entire spectrum of econometrics. The course starts by reviewing basic tools of statistics and econometrics, and makes brief introductions to regression analysis, least squares methods, and some extensions of these topics. Then, numerous time series methods are discussed, including the estimation and forecasting of ARMA and ARIMA models, models of conditional heteroscedasticity (ARCH/GARCH), vector autoregressions, and cointegration. Each topic is discussed along with its applications in finance, keeping in mind the peculiarities of financial data and methods that are designed to work with such data.


ECON 520  International Macroeconomics

This course aims to introduce concepts and analytical tools for studying issues in open economy macroeconomics. To this end, the lectures present concepts and methods of national income and balance of payments accounting, macroeconomic models to explain determination of national output, general price level, interest and exchange rate regimes in open economies that have adopted different exchange rate and capital mobility regimes. Students taking the course will have a better understanding of the key macroeconomic issues facing open economies, including economic crises driven by current account problems.


ECON 522  Turkish Economy

The course starts with an introduction to growth dynamics of the Turkish economy. We then discuss labor market. Savings and investment are the major areas on which the course focuses. At the end the relationships between the structure of firms, firm behaviour and economic performances in recent decades are discussed throughly.


ECON 530  Energy Economics and Finance

This course examines economic theory, empirical perspectives, and political economy of energy supply and demand. It discusses aspects of local, national, and global markets for oil, natural gas, coal, electricity, nuclear power, and renewable energy; and examines public policies affecting energy markets including taxation, price regulation and deregulation, energy efficiency, and control of emissions. The course will also cover energy derivatives and the link between energy and financial markets.


ECON 531  Decision Economics

This course consists of a series of case studies that bring out the complexities of decisions with incomplete information. Cases cover purely financial or economic investment decisions in a variety of sectors and a economic environments.


ECON 532  Macroeconomics for Investment

The course aims to provide a macroeconomic framework to aid understanding of the movement of financial markets. It aims to do so both by using traditional macroeconomic equations, but also by developing macroeconomic proxies and signals developed from ideas familiar to corporate analysts and investors. It aims to provide not just a theoretical framework for analysing growth, elements of the business cycle, and the cashflows associated with them, but also practical demonstrations and tools. Throughout, the ideas will be accompanied by casestudies derived from current or nearcurrent economic and financial situations, principally from the US and Asia.Each class will kick off with a discussion of current events in the markets and how these relates to the course material.


ECON 534  The Global Economic and Financial Crisis

This course will start with a macroscopic view of developments affecting the operation of the global economic system. Alternative perspectives on how to explain economic crises and determine the priorities of economic policy will be discussed. Finally, the flawed response to the crisis will be analyzed.


ECON 535  Economic and Financial Networks

The subjects of the course are the economic and financial networks. Materials to be covered in the course include firm ownership networks and stock prices correlation networks. Networks measures such as centrality, density and average distance will be discussed. Random link formation and strategic link formation will be examined. The spread of information, epidemics or opinions on the networks will be studied. In the course students will use network analysis software packages such as PAJEK, Dephi and igraph.


ECON 573  Macroeconomic Theory 1

The first part of the course introduces the one-period general equilibrium and discusses the labor-leisure choice, two-sector, and open economy models. Then, within the context of economic growth, dynamic general equilibrium modeling is studied. The subjects covered will include models for horizontal and vertical product diversification, as well as models for human capital, public sector, and two-sector models. Differential equations and optimal control theory will also be addressed in appropriate detail within the course's limits. Students who successfully complete this course will have a greater knowledge of rigorous macroeconomic models and will be able to engage with and evaluate contemporary literature critically.


ECON 576  Econometrics

This course begins with the traditional econometric methods of matrix regression and general regression theory as well as the traditional understanding of econometric modeling. Additional topics include linear regression analysis, the least squares method, the ML estimator, univariate time series model, autoregressive moving average (ARIMA) modeling, BoxJenkins hashing, deterministic and stochastic trends, differential equations, nonstationary, seasonality, volatility, trends and transformations, multiequation timeseries models, cointegration and errorcorrection models, Logit, Probit and Tobit models, system models, and SUR, VAR, and panel data models.


ECON 577  Data Science with Applications in Economics

Ders temel MATLAB programlama dili öğrenimi ile başlar ve veri düzenleme, araştırmacı veri analizi, tahminleyici modelleme, makine öğrenimi, veri görselleştirmesi ve etkili iletişim gibi konularla devam eder. Ders boyunca öğrenciler gerçek dünya veri setlerine dayalı ekonomik ve finansal uygulamalar ile veri bilimindeki yeteneklerini arttıracaklardır.


FM 506  Stochastic Processes in Finance

The topics covered in this course include the definitions and the classifications of stochastic processes, Poisson process, renewal theory, Markov chains and processes, Martingales.


FM 551  Scientific Computation and Simulation in Finance

Scientific computation and simulation in finance  is a crossdisciplinary field which relies on mathematical finance, numerical methods and computer simulations to make trading, hedging and investment decisions, as well as facilitating the risk management of those decisions.


ITF 501  International Financial Markets

The main objective is to explore the primary theoretical and practical concepts that dominate international financial markets and those that should be taken into consideration during international risk management and investment decisions.


ITF 503  Advanced Corporate Finance

In this course net present value and capital budgeting, capital structure, valuation of the firm, IPOs, Mergers and Acquisitions will be covered and related cases will be discussed.


ITF 507  Corporate Financial Management

Topics covered are: introduction to finance, finance environment and participants in this environment, what the business finance deals with, financial statements and analysis, cash budgeting, time value of money and risk and return.


ITF 510  Investment Analysis and Portfolio Management

Topics covered are: investment environment, market players, securities markets, portfolio risk and return, efficient diversification, CAPM and APT, Efficient market hypothesis and Behavioral Finance and Technical Analysis.


Izmir University of Economics
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Izmir Chamber of Commerce Health and Education Foundation.
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Sakarya Street No:156
35330 Balçova - İzmir / Turkey

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