Course Name | Advanced Macroeconomic Theory |
Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
---|---|---|---|---|---|
ECON 300 | Fall/Spring | 3 | 0 | 3 | 6 |
Prerequisites |
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Course Language | English | ||||||||
Course Type | Elective | ||||||||
Course Level | First Cycle | ||||||||
Mode of Delivery | - | ||||||||
Teaching Methods and Techniques of the Course | |||||||||
Course Coordinator | |||||||||
Course Lecturer(s) | |||||||||
Assistant(s) |
Course Objectives | This course offers theoretical building blocks of modern macroeconomics by using the neo-classical approach. The approach considers the decision-making of economic agents (individuals, firms, and the government) in a free market economy. Since some concepts necessary to understand the workings of the economy require using advanced mathematical tools, students are encouraged to refresh their memory on calculus. |
Learning Outcomes | The students who succeeded in this course;
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Course Description | 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, two-period partial and general equilibrium macroeconomic modeling approaches are taught by using graphical and mathematical tools. Finally, multi-period general equilibrium modeling and policy analyses of neo-classicals and new-Keynesians are studied. The course highlights the market solution and social planner’s solution whenever it applies. |
Related Sustainable Development Goals | |
| Core Courses | |
Major Area Courses | X | |
Supportive Courses | ||
Media and Managment Skills Courses | ||
Transferable Skill Courses |
Week | Subjects | Required Materials |
1 | Introduction and Measurement | Chapters 1 and 2 in SDW |
2 | Measurement | Chapter 2 in SDW |
3 | Consumer and Firm Behavior | Chapter 4 in SDW and Chapter 1 in HY |
4 | Consumer and Firm Behavior | Chapter 4 in SDW and Chapter 1 in HY |
5 | A Closed-Economy One-Period Macroeconomic Model | Chapter 5 in SDW and Chapter 1 in HY |
6 | A Closed-Economy One-Period Macroeconomic Model | Chapter 5 in SDW and Chapter 1 in HY |
7 | A Closed-Economy One-Period Macroeconomic Model | Chapter 5 in SDW and Chapter 1 in HY |
8 | A Closed-Economy One-Period Macroeconomic Model | Chapter 5 in SDW and Chapter 1 in HY |
9 | Midterm Exam | |
10 | A two-period Model | Chapter 9 in SDW and Chapter 2 in HY |
11 | A two-period Model | Chapter 9 in SDW and Chapter 2 in HY |
12 | A Real Intertemporal Model | Chapter 11 in SDW |
13 | A Real Intertemporal Model | Chapter 11 in SDW |
14 | Business Cycle Models with Flexible Prices and Wages | Chapter 13 in SDW (Select Sections) |
15 | New Keynesian Economics: Sticky Prices | Chapter 14 in SDW |
16 | Review of the Semester |
Course Notes/Textbooks | Stephen D. Williamson (SDW), Macroeconomics, Sixth Edition (2018), The Pearson Series in Economics ISBN-13: 978-0134472119 Hakan Yetkiner (HY), Advanced Macroeconomic Theory (unpublished). |
Suggested Readings/Materials |
Semester Activities | Number | Weigthing |
Participation | ||
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | ||
Portfolio | ||
Homework / Assignments | ||
Presentation / Jury | ||
Project | ||
Seminar / Workshop | ||
Oral Exam | ||
Midterm | 1 | 50 |
Final Exam | 1 | 50 |
Total |
Weighting of Semester Activities on the Final Grade | 1 | 50 |
Weighting of End-of-Semester Activities on the Final Grade | 1 | 50 |
Total |
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 | 5 | 80 |
Field Work | |||
Quizzes / Studio Critiques | |||
Portfolio | |||
Homework / Assignments | |||
Presentation / Jury | |||
Project | |||
Seminar / Workshop | |||
Oral Exam | |||
Midterms | 1 | 26 | |
Final Exams | 1 | 26 | |
Total | 180 |
# | 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) | |||||
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