| Course Name | Macroeconomic Theory 1 |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 573 | 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 is designed to develop the theoretical building blocks and tools of macroeconomic modeling based on static and dynamic general equilibrium. The course methodologically acknowledges the microeconomic foundations of macroeconomics. |
| Learning Outcomes | The students who succeeded in this course;
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| Course Description | he course begins by introducing the one-period general equilibrium, in which labor-leisure choice, two-sector, and open economy models are discussed. Next, dynamic general equilibrium modeling is studied within the economic growth framework. Solovian modeling, Ramsey modeling, human capital modeling, public investment, two-sector models, and horizontal product differentiation are among the topics will be discussed. Within the scope of the course, differential equations and optimal control theory will also be covered in the course at sufficient detail. Students completing this course will have a deeper understanding of rigorous macroeconomic models and will 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 | ||
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | One period General equilibrium | Chapter 1 in HY |
| 2 | One period General equilibrium | Chapter 1 in HY |
| 3 | One period General equilibrium | Chapter 1 in HY |
| 4 | One period General equilibrium | Chapter 1 in HY |
| 5 | One period General equilibrium | Chapter 1 in HY |
| 6 | One period General equilibrium | Chapter 1 in HY |
| 7 | Midterm | Chapter 1 in HY |
| 8 | Neo-classical growth theory | Chapter 1 in BSM |
| 9 | Neo-classical growth theory | Chapter 1 in BSM |
| 10 | Neo-classical growth theory | Chapter 2 in BSM |
| 11 | Neo-classical growth theory | Chapter 2 in BSM |
| 12 | One-Sector and Two-Sector Models of Endogenous Growth | Chapters 4&5 in BSM |
| 13 | One-Sector and Two-Sector Models of Endogenous Growth | Chapters 4&5 in BSM |
| 14 | One-Sector and Two-Sector Models of Endogenous Growth | Chapters 6 in BSM |
| 15 | One-Sector and Two-Sector Models of Endogenous Growth | Chapters 6 in BSM |
| 16 | Review of the Semester |
| Course Notes/Textbooks | Barro, R.J. & X. Sala-i-Martin (2004) Economic Growth, Second Edition, ISBN-13: 978-8120325517 Hakan Yetkiner (HY1), Advanced Macroeconomics, unpublished manuscript |
| 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 | 6 | 96 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | |||
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 1 | 33 | |
| Final Exams | 1 | 33 | |
| Total | 210 |
| # | 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. | X | ||||
| 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. | |||||
| 9 | To be able to critically evaluate the knowledge in finance and economics, to lead learning and carry out advanced level research independently. | X | ||||
| 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
