COURSE INTRODUCTION AND APPLICATION INFORMATION

dm.ieu.edu.tr

Course Name

Code	Semester	Theory (hour/week)	Application/Lab (hour/week)	Local Credits	ECTS
	Fall/Spring

Prerequisites

ECON 301

To succeed (To get a grade of at least DD)

Course Language

Course Type

Elective

Course Level

Mode of Delivery

Teaching Methods and Techniques of the Course

Course Coordinator

Course Lecturer(s)

Assistant(s)

Course Objectives
Learning Outcomes	The students who succeeded in this course; Will be able to build a macroeconomic model. Will be able to define and explain equilibrium in macroeconomics. Will be able to calculate steady states. Will be able to distinguish between stochastic and deterministic shocks. Will be able to calibrate and simulate a simple macroeconomic model.
Course Description

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

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week	Subjects	Required Materials
1	Introduction
2	Competitive Equilibrium in One Period World I	The ABCs of RBCs, Chp. 1
3	Competitive Equilibrium in One Period World II	The ABCs of RBCs, Chp. 1
4	Competitive Equilibrium in a Two Period World	The ABCs of RBCs, Chp. 2
5	Competitive Equilibrium in a Finite Period World	The ABCs of RBCs, Chp. 2
6	The Social Planner Problem and the Welfare Theorems	The ABCs of RBCs, Chp. 3
7	The Steady Statee	The ABCs of RBCs, Chp. 3
8	Midterm 1
9	Introduction to Matlab and Dynare I	Dynare 4.0.2 Manual Matlab 7 Manual
10	Introduction to Matlab and Dynare II	Dynare 4.0.2 Manual Matlab 7 Manual
11	Calibrating and simulating a Basic Real Business Cycle Model I	Macroeconomic Theory, Chp. 14
12	Calibrating and simulating a Basic Real Business Cycle Model II	Macroeconomic Theory, Chp. 14
13	Midterm 2
14	Project Presentations
15	Project Presentations
16	Review of the Semester

Course Notes/Textbooks	The ABCs of RBCs, An Introduction to Dynamic Macroeconomic Models, McCandless, George Harvard University press, 2008 Macroeconomic Theory, A Dynamic General Equilibrium Approach, Michael Wickens, princeton University press, 2008 Dynare 4.0.2 Manual Matlab 7 Manual
Suggested Readings/Materials	Computational methods for the study of dynamic economies, Marimon, Ramon, and Andrew Scott, Oxford University Press, 1999

EVALUATION SYSTEM

Semester Activities	Number	Weigthing
Participation	10	5
Laboratory / Application	5	5
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments	2	20
Presentation / Jury
Project	1	30
Seminar / Workshop
Oral Exam
Midterm	2	40
Final Exam
Total

Weighting of Semester Activities on the Final Grade		100
Weighting of End-of-Semester Activities on the Final Grade
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	3
Study Hours Out of Class	16	1
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments	2	11
Presentation / Jury
Project	1	36
Seminar / Workshop
Oral Exam
Midterms	2	23
Final Exams
		Total	216

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#	Program Competencies/Outcomes	* Contribution Level
#	Program Competencies/Outcomes	1	2	3	4	5
1	To have a grasp of basic mathematics, applied mathematics and theories and applications of statistics.
2	To be able to use theoretical and applied knowledge acquired in the advanced fields of mathematics and statistics,
3	To be able to define and analyze problems and to find solutions based on scientific methods,
4	To be able to apply mathematics and statistics in real life with interdisciplinary approach and to discover their potentials,
5	To be able to acquire necessary information and to make modeling in any field that mathematics is used and to improve herself/himself,
6	To be able to criticize and renew her/his own models and solutions,
7	To be able to tell theoretical and technical information easily to both experts in detail and nonexperts in basic and comprehensible way,
8	To be able to use international resources in English and in a second foreign language from the European Language Portfolio (at the level of B1) effectively and to keep knowledge up-to-date, to communicate comfortably with colleagues from Turkey and other countries, to follow periodic literature,
9	To be familiar with computer programs used in the fields of mathematics and statistics and to be able to use at least one of them effectively at the European Computer Driving Licence Advanced Level,
10	To be able to behave in accordance with social, scientific and ethical values in each step of the projects involved and to be able to introduce and apply projects in terms of civic engagement,
11	To be able to evaluate all processes effectively and to have enough awareness about quality management by being conscious and having intellectual background in the universal sense,
12	By having a way of abstract thinking, to be able to connect concrete events and to transfer solutions, to be able to design experiments, collect data, and analyze results by scientific methods and to interfere,
13	To be able to continue lifelong learning by renewing the knowledge, the abilities and the compentencies which have been developed during the program, and being conscious about lifelong learning,
14	To be able to adapt and transfer the knowledge gained in the areas of mathematics and statistics to the level of secondary school,
15	To be able to conduct a research either as an individual or as a team member, and to be effective in each related step of the project, to take role in the decision process, to plan and manage the project by using time effectively.

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