| Course Name | International Macroeconomics |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 520 | Fall/Spring | 3 | 0 | 3 | 7.5 |
| Prerequisites | None | |||||
| Course Language | English | |||||
| Course Type | Elective | |||||
| Course Level | Second Cycle | |||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | ||||||
| Course Coordinator | ||||||
| Course Lecturer(s) | ||||||
| Assistant(s) | ||||||
| Course Objectives | This course provides an overview of issues in international macroeconomics, and develops the concepts and analytic tools necessary for understanding macroeconomic issues under open economy regime(s). |
| Learning Outcomes | The students who succeeded in this course;
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| Course Description | The course aims to give a rigorous introduction to international macroeconomics. To this end, the lectures present core models, including one-period and two period general equilibrium models, and infinite horizon open economy models, and discuss dynamic and stochastic analysis of current account, exchange rate determination, terms of trade, and global financial markets. After this course, students will have a deeper understanding of core models of open economy models and major research issues in international macroeconomics. The students will also be equipped with skills needed to critically read and evaluate the mainstream literature. |
| Related Sustainable Development Goals | |
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| Core Courses | |
| Major Area Courses | X | |
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Introduction to General Equilibrium | Course Notes (HY) |
| 2 | Introduction to General Equilibrium | Course Notes (HY) |
| 3 | Introduction to General Equilibrium | Course Notes (HY) |
| 4 | Introduction to Dynamic Macroeconomics | Course Notes (HY) |
| 5 | Introduction to Dynamic Macroeconomics | Course Notes (HY) |
| 6 | Intertemporal Trade and the Current Account Balance | Chapter 1 in O&R |
| 7 | Intertemporal Trade and the Current Account Balance | Chapter 1 in O&R |
| 8 | Intertemporal Trade and the Current Account Balance | Chapter 1 in O&R |
| 9 | Midterm exam | |
| 10 | Dynamics of Small Open Economies | Chapter 2 in O&R |
| 11 | Dynamics of Small Open Economies | Chapter 2 in O&R |
| 12 | The Real Exchange Rate and the Terms of Trade | Chapter 4 in O&R |
| 13 | The Real Exchange Rate and the Terms of Trade | Chapter 4 in O&R |
| 14 | Uncertainty and International Financial Markets | Chapter 5 in O&R |
| 15 | Final exam | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | Obstfeld, Maurice, and Kenneth Rogoff (O&R), Foundations of International Macroeconomics, (MIT Press, 1996) 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 | 15 | 6 | 90 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | |||
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 1 | 20 | |
| Final Exams | 1 | 20 | |
| Total | 178 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To improve and deepen expertise in economics and finance. | X | ||||
| 2 | To be able to comprehend the interaction between economics, finance and related fields. | X | ||||
| 3 | To be able to apply the advanced level knowledge acquired in economics and finance. | X | ||||
| 4 | To be able to create new knowledge by combining the knowledge of finance and economics with the knowledge coming from other disciplines and be able to solve problems which requires expert knowledge by applying scientific methods. | X | ||||
| 5 | To be able to use computer programs needed in the fields of economics and finance as well as information and communication technologies in advanced levels. | |||||
| 6 | To be able to think analytically to identify problems in finance and economics and to be able to make policy recommendations in economics and finance based on scientific analysis of issues and problems. | X | ||||
| 7 | To be able to develop new strategic approaches for unexpected, complicated situations in finance and economics and take responsibility in solving it. | X | ||||
| 8 | To protect the social, scientific and ethical values at the data collection, interpretation and dissemination stages and to be able to institute and observe these values. | X | ||||
| 9 | To be able to critically evaluate the knowledge in finance and economics, to lead learning and carry out advanced level research independently. | |||||
| 10 | To be able to use a foreign language for both following scientific progress and for written and oral communication. | X | ||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
