COURSE INTRODUCTION AND APPLICATION INFORMATION

eco.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	X
	Supportive Courses
	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 sound knowledge of the quantitative and qualitative methods that will help to examine the premises of different theories for an applied subject so that a contribution to solving current economic problems can be made.					X
2	To have the experience of writing, using software, and doing presentations in the newspapers, magazines, meetings, panels, and in equivalent virtual platforms (internet), in order to share their accumulated knowledge and problem solving ability acquired during their education.
3	To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.
4	To have adequate social responsibility and awareness with regards to the needs of the society and to have sufficient experience and qualifications to organize and support the activities to influence the social dynamics in line with the social goals.
5	To be able to integrate the knowledge and training acquired during the university education with personal and work experience and produce a synthesis of knowledge she requires.
6	To have the ability to evaluate his/her advance (post graduate) level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.				X
7	To have sufficient practical and theoretical knowledge base in order to define the economic agents and their interaction both in the national and global level, to process economic data and to implement scientific research for development of economic policies.
8	Keeping in mind that economics is a social science, to have the skills to integrate social dynamics into economic process both as an input and an output and to be open to theoretical innovations in this direction.
9	To associate accumulated knowledge acquired during the university education with historical and cultural qualities of the society and to convey it to different groups.
10	To be able to follow knowledge and change in economics and communicate with colleagues in a foreign language.		X
11	To possess social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.
12	To have advanced level of speaking and writing skills of a second foreign language to support continuation of post graduate professional and individual development

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