At the end of this course, the students; 1) Understand basic macroeconomic concepts. 2) Understand the meaning and contents of GDP, GNP, and national income. 3) Understand the macroeoconomic measures such as unemployment rate, inflation rate, aggregate demand and supply, production and consumption. 4) Understand how an economy operates at the macroeconomic level. 5) Understand where and how macroeoconomic equilibrium exists, and how equilibrium is restored when distorted. 6) Understand the contents and effects of monetary and fiscal policies. 7) Understand and interpret the news, and articles in daily papers and weekly or monthly news periodicals on inflation, recession, expansion, growth, taxation, treasury borrowing and public debt.
MODE OF DELIVERY
Face to face
PRE-REQUISITES OF THE COURSE
No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT
No
COURSE DEFINITION
Methods of measurement and determination of national income; the consumption, saving and investment functions; employment and inflation; public finance, money and banking; international trade; macroeconomic policy; economic growth and development will be covered with examples from Turkey.
COURSE CONTENTS
WEEK
TOPICS
1st Week
GDP and living standards
2nd Week
CPI, cost of living index
3rd Week
Potential GDP, and natural rate of unemployment
4th Week
Investment and saving
5th Week
Money, and monetary system
6th Week
Money creation, and monetary control
7th Week
Money, interest, and inflation, Aggregate supply, aggregate demand, economic conjuncture
8th Week
Midterm
9th Week
Aggregate spending
10th Week
Fiscal and monteray policies and their impact
11th Week
Short-term policies
12th Week
Fiscal policy or monetary policy?
13th Week
International trade
14th Week
International finance, Economic growth
RECOMENDED OR REQUIRED READING
Robin BADE and Michael PARKIN, Foundations of Macroeconomics, 3rd ed. New York: Addison Wesley, 2004.
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS
Questions/Answers,Discussion,Lecture
ASSESSMENT METHODS AND CRITERIA
Quantity
Percentage(%)
Mid-term
1
40
Quiz
1
10
Total(%)
50
Contribution of In-term Studies to Overall Grade(%)
50
Contribution of Final Examination to Overall Grade(%)
50
Total(%)
100
ECTS WORKLOAD
Activities
Number
Hours
Workload
Midterm exam
1
2
2
Preparation for Quiz
Individual or group work
14
2
28
Preparation for Final exam
1
60
60
Course hours
14
3
42
Preparation for Midterm exam
1
50
50
Laboratory (including preparation)
Final exam
1
2
2
Homework
Quiz
1
15
15
Total Workload
199
Total Workload / 30
6,63
ECTS Credits of the Course
7
LANGUAGE OF INSTRUCTION
English
WORK PLACEMENT(S)
No
KEY LEARNING OUTCOMES (KLO) / MATRIX OF LEARNING OUTCOMES (LO)
