This course aims to discuss the important developments in the modern world economy. In order to facilitate a deeper understanding of these developments we will first have a brief historical overview of the world economy and investigate international trade, foreign investment and regional integration as the key pillars of globalization process. After defining globalisation and review its alternative interpretations, we will investigate a number of international economic institutions that play an instrumental role in the globalisation process. The impact of globalisation on global inequality will be investigated. Then, we will have two case studies on the role of the state in the economy: privatization policies and the “East Asia Miracle”. Finally, the recent financial crisis and its impact on the Turkey's economy will be discussed. We will complete the semester with two discussion sessions.

The course begins by introducing students to the subject of macroeconomics and to national income accounting. Next, one period (static) partial and general equilibrium macroeconomic modeling is developed through graphical analysis and mathematical modeling. Third, twoperiod partial and general equilibrium macroeconomic modeling approaches are taught by using graphical and mathematical tools. Finally, multiperiod general equilibrium modeling and policy analyses are studied. This course also covers market solution and social planner’s solution to macroeconomic modeling.

This course will explore the theoretical and empirical analysis of the effect of money on economy. The effect of money, credit and liquidity on income, employment, economic growth and inflation will be analyzed. The goals of monetary policy, the methods used to obtain these goals, and the effects of these methods will be discussed. Moreover, issues such as the functioning of monetary policy in international financial system; the relationship of the financial system with the real economy, monetary policy channels (money, bank credit, and balance sheet channels), and reasons and outcomes of inflation will be undertaken.

The course aims to introduce international economic institutions and their structures, functions and impacts (on national and international economies) as well as develop students’ skills to have an informed commentary on both academic and more popular arguments on these institutions.

In this course the following international economic institutions will be investigated:

• World Trade Organization
• IMF
• World Bank
• Regional integrations
• United Nations
• Others such as the OECD, OPEC, G8 and G20

This course has been one of the main areas of economics because by using a historical perspective it explores how different schools of economic thought pass through various stages. In this course, by focusing on methodological and analytical questions and with the help of nonmainstream alternative approaches, evolution of economics throughout the history will be evaluated. First historical development process of the market system will be investigated by laying out a general framework examine dynamic relationship between the theories. Afterwards each school of economic thought will be analyzed in a chronological order.

Regional and Urban economics typically addresses four sets of questions, and this course is organized around these four areas. The first set of questions focuses on the development of urban areas. Why do cities exist and why do some grow more rapidly? How can local governments encourage such growth? The second set of questions addresses patterns of development within metropolitan areas. Why do certain parts of metropolitan areas grow more rapidly than others? How do firms and households decide where to locate within given metropolitan areas? What determines the price of land, and how do these prices vary across space? The third set of questions concerns the spatial dimensions of urban problems. In this category urban poverty, housing, and innercity economic problems will be analyzed. Finally, in the last part of the class, we will briefly study the spatial aspects of local government policy and explore the interrelationships between city and suburban governments. The students will also be introduced to regional economic modeling.

Ders,Avrupa Birliği’ni ilgilendiren temel prensipleri ve güncel konuları kapsar.Avrupa Birliği ekonomisinin incelenmesinden önce,Avrupa Birliği’nin başlıca kurumlarının yapısı ve çeşitli bütünleşme teorileri analiz edilecektir.Sonrasında,içinde bulunduğu kurumsal yapı göz önünde bulundurularak konunun ekonomik analizi üzerinde durulacaktır.Ders iki bölümden oluşmaktadır.Birinci kısımda ulusların nasıl ve neden ekonomik bütünleşmeyi tercih ettikleri ve ekonomik bütünleşmeyi meydana getiren kalıpların belirleyicileri üzerinde durulacaktır.Bu kısım esas olarak konunun teorik yönüyle ilgilidir ve kaydadeğer miktarda literatür çalışılıp özetlenecektir.Dersin ikinci kısmında,özellikle Avrupa Birliği olmak üzere,çeşitli bütünleşme biçimlerinin etkileri incelenecektir.

The course content covers macroeconomic issues such as monetary and fiscal policies, unemployment, inflation, growth, exchange rate and open economics, interest rate and capital inflow and outflow, the relationship between monetary and fiscal policy and economic activities, analyzing the practice of monetary and fiscal policy in the USA

Scientific and technological advances are among the most important determinants of economic growth, and the human condition at large. Invention is as old as humanity itself, and it has shaped the economic and social history of ancient humans as well as modern societies. This class starts by covering a brief history of modern invention, with special attention to the Industrial Revolution, and the evolution of some important industries.

Then, the student is introduced to the contemporary economic literature on scientific and technological innovation. Starting with the problems of the measurement of scientific and technological output, the course covers important topics in the field, giving priority to empirical problems. Knowledge spillovers are covered with some detail, including their measurement, and mechanisms that cause and facilitate spillovers. The material covered here lends itself naturally to the diffusion and adoption of new technology, and the geography of invention, both of which are adopted as part of the class. We then cover in detail the usage of patents as the “data” for economic studies. The course ends with treatments of endogenous growth models, the effects of competition on innovation, and a discussion of the Schumpeterian Hypothesis.

The course will teach advanced techniques that are required for empirical work in economics. Emphasis will be on the use and interpretation of single equation and system estimation techniques rather than on their derivation. The purpose of the course is to help students understand how to interpret economic data and conduct empirical tests of economic theories. It will focus on issues that arise in using such data, and the methodology for solving these problems. Specific topics include limited dependent variables, simultaneous equations, time series models, nonstationarity and cointegration and panel data analysis. The regression package EVIEWS will be used for empirical work. 

The nature and significance of threats to the environment will be examined. Externalities and market failure will be discussed. Tools of economic analysis will be used to compare and contrast various legal and market oriented approaches to dealing with environmental problems. Air and water pollution problems will be analyzed. Carbon taxes, pollution quotas and permits and other environmental regulation tools will be reviewed.

The course begins by Solow approach. That approach assumes that the savingconsumption tradeoff is given to the modeleconomy. Under this assumption, the framework develops several concepts of dynamic modeling such as transitional dynamics, steady state, golden rule of saving, violations of neoclassical assumptions, and so on. Next, the consumptionsaving tradeoff is endogenized under the Ramsey framework. The course teaches some other concepts of dynamic macro economics such as subjective rate of discount, intertemporal elasticity of substitution, saddlepath stability, and so on. In summary, a short list of some concepts and topics covered is Neoclassical assumptions,Solow framework,Transitional dynamics,Steady statecases that violate neoclassical assumptions,Ramsey framework,Intertemporal substitution,savingconsumption tradeoff.

The course starts with an introduction to quantitative macroeconomics. We then discuss the benchmark deterministic model and competitive equilibrium. We then discuss steady state. The course continues with introduction to Matlab and Dynare programs in the Lab. It concludes with the discussion of calibration and simulation of a simple real business cycle (RBC) model.

The course begins by Lucas (1988). That paper develops a framework that set sup a link between human capital and economic growth. Next, Barro (1990) is studied. That paper focuses on the role played by public capital on economic growth. Third, Romer (1990) is analyzed. Romer (1990) develops an endogenous growth framework that reveals the role of technological change on economic growth. Fourth, the seminal paper by Aghion and Howitt (992) on vertical product differentiation is reviewed. That paper shows the importance of quality improvements on economic growth. Fifth, Dasgupta and Heal (1974) is reviewed to understand the importance of nonrenewable resources on economic growth.

By using alternative economic approaches this course will constitute an analytical framework to help us understand the interaction among the major players such as multinational corporations, nationstates, and international institutions (e.g. IMF, WTO etc.) in the process of globalization. The same framework will also shed light on how this interaction have both enabled and constrained the strategies of various groups with respect to the issues such as inequality, growth, poverty, gender, and ecology associated with globalization.

The course is designed to get students familier with the tools and models of government intervention into the economy. Intermediate microeconomics and public finance would help students grasp the subject matter easily. Starting with the definition of public goods, externallities, different type of public expenditures and taxes and their effects on the economy will be analyzed during the course. In addition, empirical models about public expenditures and taxes are analyzed and students are encouraged to do their own empirical models.

This course examines in detail the different forms of organizational structures industries can form and strategic behavior of firms in such settings. We begin our lectures with a focus on the concept of a firm and its cost structure, developing the incentive mechanisms behind its actions. This will be followed by examination of different market structures in which an industry will be functioning. After studying individual firm behavior, we will concentrate on industries where multiple firms exist. In such industries behavior of a firm depends not only its internal structure (i.e. its cost structure) but also on the actions of the others. In this context we focus on Bertrand and Cournot equilibrium models as well as dynamic price competition and tacit collusion. We will then focus on various business practices of firms in different environments. Special emphasis on topics such as price discrimination, single and multi product pricing both in static and dynamic context will be given.

The class covers the theory behind a variety of topics in time series econometrics, and introduces the student to a large number of time series applications. Class exposition is evenly divided between theory and applications, but applications are given priority in assignements and exams. After a brief review of statistical and econometric basics, we discuss the use of difference equations and lag operators. Stationary ARMA models are covered in great detail, and so are ARCH, GARCH, and VAR techniques. The student is also exposed to nonstationary time series, unit roots, and ARIMA models. The class ends with discussions on cointegration and forecasting.

The course covers the analysis of strategic behaviors in everyday life. Most of the times, people and firms are in competition and have to behave strategically to maintain their best interests. Behaving strategically means that an agent must accept other’s existence and consider their decisions as well when deciding. Our best interest may harm others whom we are living with. The merit is to find a (the) best solution maximizing the utility under given conditions.

The structural characteristics of the Turkish economy will be briefly discussed. Then indepth analyses of current topics and problems in Turkish economy will be undertaken. These issues include the cyclical growth performance, credit markets, employment, informal sector, industrialization, privatization, corporate finance, trade and crises, and access to EU.

The course offers a theoretical and comparative view on the economic development process. In doing this students delve into issues regarding to major areas such as role of savings and investment, poverty and inequality, migration, informal economy, environment, and externalities of human capital an health.

This course will introduce students to main topics, ideas and methodologies of labor economics. In this course topics such as labor supply theory, labor demand, wage determination, labor allocation, income distribution and labor unions will be undertaken by focusing on population, human capital and migration. Meanwhile, labor market in Turkey will be explored. Moreover, empirical research on unemployment and wage differences will be discussed in order to familiarize students with labor market data and methodologies of labor economics.

The subjects of the course are the social and economic networks that permeate our social lives. Materials to be covered in the course include firm ownership networks and job search networks as well as friendship 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.

The course will examine the special features of medical care as a commodity, the demand for health and medical care services, the economic explanations for the behavior of medical care providers – hospitals and physicians, the functioning of insurance markets, the system of health care financing and delivery arrangements in Turkey, in the U.S. and worldwide and technology diffusion. The course will be a mixture of lecture and class presentation/discussion.

The students of Energy Management and Policy Certificate Program are expected to be exposed to all of the energy options that may be encountered in the 21st century. Therefore, this course is designed to give students detailed information about the conventional and alternative energy sources after a brief review of energy and power. The major topics of first part of this course include energy overview, history and energy substitution, important energy eras, energy and hegemonic powers, geopolitics of energy resources and energy security, Hubbert’s curve and peak oil theory, primary energy sources, energy conversion and secondary energy, energy as an economic sector, sectoral energy enduse, sustainable energy development, energy and environment. The second part, on the other hand, covers the topics on fossil fuels such as coal, oil and natural gas as well as renewable energy sources such as wind, solar, geothermal, hydro, biomass and hydrogen.The students of Energy Management and Policy Certificate Program are expected to be exposed to all of the energy options that may be encountered in the 21st century. Therefore, this course is designed to give students detailed information about the conventional and alternative energy sources after a brief review of energy and power. The major topics of first part of this course include energy overview, history and energy substitution, important energy eras, energy and hegemonic powers, geopolitics of energy resources and energy security, Hubbert’s curve and peak oil theory, primary energy sources, energy conversion and secondary energy, energy as an economic sector, sectoral energy enduse, sustainable energy development, energy and environment. The second part, on the other hand, covers the topics on fossil fuels such as coal, oil and natural gas as well as renewable energy sources such as wind, solar, geothermal, hydro, biomass and hydrogen.