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ECON 573 | Course Introduction and Application Information
| Course Name |
Macroeconomic Theory 1
|
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
|
ECON 573
|
Fall/Spring
|
3
|
0
|
3
|
7.5
|
| Prerequisites |
None
|
|||||
| Course Language |
English
|
|||||
| Course Type |
Elective
|
|||||
| Course Level |
Second Cycle
|
|||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | - | |||||
| National Occupation Classification | - | |||||
| Course Coordinator | - | |||||
| Course Lecturer(s) | ||||||
| Assistant(s) | ||||||
| Course Objectives | The goal of this course is to establish the theoretical foundations and macroeconomic modeling tools that are based on static and dynamic general equilibrium. The course respects the microeconomic roots of macroeconomics in its methodology. |
| Learning Outcomes |
The students who succeeded in this course;
|
| Course Description | 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. |
| Related Sustainable Development Goals |
|
|
|
Core Courses | |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Management Skills Courses | ||
| Transferable Skill Courses |
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
| Week | Subjects | Related Preparation |
| 1 | One period General equilibrium | Chapter 1 in HY1 |
| 2 | One period General equilibrium | Chapter 1 in HY1 |
| 3 | One period General equilibrium | Chapter 1 in HY1 |
| 4 | One period General equilibrium | Chapter 1 in HY1 |
| 5 | Neo-classical growth theory (Solow) | Chapter 1 in HY2 |
| 6 | Neo-classical growth theory (Solow) | Chapter 1 in HY2 |
| 7 | Midterm | |
| 8 | Neo-classical growth theory (Ramsey) | Chapter 2 in HY2 |
| 9 | Neo-classical growth theory (Ramsey) | Chapter 2 in HY2 |
| 10 | Neo-classical growth theory (AK Models) | Chapter 3 in HY2 |
| 11 | Neo-classical growth theory (Human Capital Models) | Chapter 4 in HY2 |
| 12 | Neo-classical growth theory (Public Sector Models) | Chapter 5 in HY2 |
| 13 | Neo-classical growth theory (Horizontal Product Differentiation Models) | Chapter 6 in HY2 |
| 14 | Neo-classical growth theory (Vertical Product Differentiation Models) | Chapter 7 in HY2 |
| 15 | Review of the Semester | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | Hakan Yetkiner (HY1), Advanced Macroeconomics, unpublished manuscript. Hakan Yetkiner (HY2), Economic Growth, unpublished manuscript. |
| Suggested Readings/Materials | Barro, R.J. & X. Sala-i-Martin (2004) Economic Growth, Second Edition, ISBN-13: 978-8120325517 |
EVALUATION SYSTEM
| Semester Activities | Number | Weigthing |
| Participation | ||
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exams | ||
| Midterm |
1
|
40
|
| Final Exam |
1
|
60
|
| Total |
| Weighting of Semester Activities on the Final Grade |
1
|
40
|
| Weighting of End-of-Semester Activities on the Final Grade |
1
|
60
|
| Total |
ECTS / WORKLOAD TABLE
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
| Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
0
|
|
| Study Hours Out of Class |
16
|
6
|
96
|
| Field Work |
0
|
||
| Quizzes / Studio Critiques |
0
|
||
| Portfolio |
0
|
||
| Homework / Assignments |
0
|
||
| Presentation / Jury |
0
|
||
| Project |
0
|
||
| Seminar / Workshop |
0
|
||
| Oral Exam |
0
|
||
| Midterms |
1
|
30
|
30
|
| Final Exam |
1
|
50
|
50
|
| Total |
224
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
|
#
|
Program Competencies/Outcomes |
* Contribution Level
|
|||||
|
1
|
2
|
3
|
4
|
5
|
|||
| 1 |
To improve and deepen expertise in economics and finance. |
-
|
-
|
-
|
-
|
X
|
|
| 2 |
To be able to comprehend the interaction between economics, finance and related fields. |
-
|
-
|
-
|
-
|
X
|
|
| 3 |
To be able to apply the advanced level knowledge acquired in economics and finance. |
-
|
-
|
-
|
-
|
X
|
|
| 4 |
To be able to create new knowledge by combining the knowledge of finance and economics with the knowledge coming from other disciplines and be able to solve problems which requires expert knowledge by applying scientific methods. |
-
|
-
|
-
|
-
|
X
|
|
| 5 |
To be able to use computer programs needed in the fields of economics and finance as well as information and communication technologies in advanced levels. |
-
|
-
|
-
|
X
|
-
|
|
| 6 |
To be able to think analytically to identify problems in finance and economics and to be able to make policy recommendations in economics and finance based on scientific analysis of issues and problems. |
-
|
-
|
-
|
X
|
-
|
|
| 7 |
To be able to develop new strategic approaches for unexpected, complicated situations in finance and economics and take responsibility in solving it. |
-
|
-
|
-
|
-
|
X
|
|
| 8 |
To protect the social, scientific and ethical values at the data collection, interpretation and dissemination stages and to be able to institute and observe these values. |
-
|
-
|
-
|
-
|
-
|
|
| 9 |
To be able to critically evaluate the knowledge in finance and economics, to lead learning and carry out advanced level research independently. |
-
|
-
|
-
|
X
|
-
|
|
| 10 |
To be able to use a foreign language for both following scientific progress and for written and oral communication. |
-
|
-
|
-
|
X
|
-
|
|
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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