GRADUATE SCHOOL

Financial Economics (Without Thesis)

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 -
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;
  • Learn macroeconomic modeling using advanced macroeconomic theories
  • Make policy analysis
  • To offer opinion on relevant (real-world) macroeconomic challenges using cutting-edge frameworks
  • Critically assess novel and intricate macroeconomic concepts
  • Contrast and evaluate the outcomes of various macroeconomic frameworks
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.

 



Course Category

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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