COURSE INTRODUCTION AND APPLICATION INFORMATION


Course Name
Theory of Macroeconomics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 202
Spring
3
0
3
6
Prerequisites
 ECON 102To succeed (To get a grade of at least DD)
Course Language
English
Course Type
Required
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives Macroeconomics analyzes the links between macroeconomic variables like GDP, consumption, investment, savings, employment, and inflation. This course teaches macroeconomics at the intermediate level with a focus on the Keynesian School.
Learning Outcomes The students who succeeded in this course;
  • explain the concepts, theories and role of (Keynesian) macroeconomics
  • evaluate equilibrium conditions in the goods market, financial market and labor market
  • explain short-term movements in GDP through the IS-LM model
  • interpret the AS/AD model to understand GDP and price movements in both the short and medium term
  • explain the Phillips Curve and the NAIRU
  • knows the differences between open economy and closed economy
Course Description This intermediate-level course covers common macroeconomics themes such as National Income and Product Accounts (NIPA), Simple Keynesian macroeconomic equilibrium, the multiplier process, IS-LM analysis, fiscal policy and monetary policy, expansionary and contractionary policies, stabilization policies, the Phillips curve, AD-AS analysis, Keynesian macroeconomic equilibrium under open economy.
Related Sustainable Development Goals

 



Course Category

Core Courses
Major Area Courses
X
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
1 Introduction Chapter 1 in OB
2 Measurement of Aggregates Chapter 2 in OB
3 Measurement of Aggregates Chapter 2 in OB
4 The Goods Market Chapter 3 in OB
5 The Goods Market Chapter 3 in OB
6 Financial Markets I Chapter 4 in OB
7 The IS-LM Model Chapter 5 in OB
8 The IS-LM Model &Financial Markets II Chapters 5&6 in OB
9 Midterm Exam
10 The Labor market Chapter 7 in OB
11 The Phillips Curve and the NAIRU Chapter 8 in OB
12 The Phillips Curve and the NAIRU Chapter 8 in OB
13 The AD-AS Model Chapter 9 in OB
14 Open-economy Chapters 17&18 in OB
15 Semester Review
16 Final Exam
Course Notes/Textbooks

Oliver Blanchard (OB), Macroeconomics, Pearson Prentice Hall, Seventh Edition 2017, ISBN-13: 978-0133780581, ISBN-10: 0133780589

Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exam
Midterm
1
40
Final Exam
1
50
Total

Weighting of Semester Activities on the Final Grade
16
50
Weighting of End-of-Semester Activities on the Final Grade
1
50
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: 16 x total hours)
16
Study Hours Out of Class
16
3
48
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exam
Midterms
1
20
Final Exams
1
20
    Total
136

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

X
2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

X
7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

X
8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

X
9

To be able to take the responsibility as an individual and as a team member.

10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

X
11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

X
12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest