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| MLY5131 | Stability Programs and Fiscal Policy Applications | 3+0+0 | ECTS:7.5 | | Year / Semester | Spring Semester | | Level of Course | Second Cycle | | Status | Elective | | Department | DEPARTMENT of PUBLIC FINANCE | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Doç. Dr. Nagihan BİRİNCİ | | Co-Lecturer | Prof. Dr. Levent Yahya ESER | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | This course aims to provide the students with general knowledge about fiscal policy practises and how to apply fiscal policy for economic stability and growth. |
| Programme Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | PO - 1 : | define the main concepts of fiscal policy
| 5,6,8,10 | 1, | | PO - 2 : | explain the difference between expansionary and contractionary fiscal policy
| 5,6,8,10 | 1, | | PO - 3 : | foresee the various effects of the fiscal policy in economical and social aspect
| 5,6,8,10 | 1,6, | | PO - 4 : | evaluate the effects of long-term budget deficits
| 5,6,8,10 | 1, | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), PO : Learning Outcome | | |
| Fiscal policy: Some definitions, aims, instruments, impact of fiscal policy. Debate on efficiency of fiscal policy: Classical approach, Keynesian approach, Monetarist approach Supply-side economics, New classical approach and New Keynesian economics. Fiscal policy and national income equilibrium: multiplier-accelerator model: income multiplier, expenditure multiplier, balanced budget multiplier. Relative effectiveness of monetary and fiscal policies in closed and open economies. Fixed rules vs. automatic/active fiscal policy in achieving economic stability. Inflation and fiscal policy: definitions of inflation, importance and cause of inflation. Recession/stagnation and fiscal policy: causes of recession, fiscal policy against recession. Stagflation and fiscal policy: explanations of stagflation, formulation of stagflation. Budget deficit problem and fiscal policy. Fiscal policy in achieving economic development. Economic stabilization and fiscal policy: in Turkey
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Fiscal Policy and Its Relationship with the Economy Policy
| | | Week 2 | Fiscal Policy Obvejtives and Tools Purpose of Economy Policy and Fiscal Policy
| | | Week 3 | Economic Theory and Fiscal Policy-I The Keynesian and Classical Explanations of Fiscal Policy Monetarist Thought and Fiscal Policy
| | | Week 4 | Economic Thought and Fiscal Policy New Classical Economy and Fiscal Policy New Keynessian Economy and Fiscal Policy Public Choice Theory and Fiscal Policy
| | | Week 5 | National Income and Fiscal Policy Fiscal Policy Multipliers Balanced Budget Multiplier
| | | Week 6 | Effectiveness of Fiscal Policy and Fiscal Policy in Realization of the Economic Stabilization The IS and LM Curve Shift the IS and LM Curve (Fiscal and Monetary Expansion)
| | | Week 7 | Fiscal Policy Applications Methods Discretionary Fiscal Policy (Fiscal Expansion) Limitations of Fiscal Policy Automatic Stabilizers
| | | Week 8 | Inflation and Fiscal Policy: Cost of Inflation
| | | Week 9 | Mid-term exam
| | | Week 10 | Depression and Fiscal Policy: Crowding Out and Crowding in with Fiscal Policy
| | | Week 11 | Stagflation and Fiscal Policy: Inflation and Unemployment
| | | Week 12 | Budget Deficits and Fiscal Policy The Government Budget Constraint and Public Finance Fiscal Sustainability and Fiscal Solvency Fiscal Deficits in Turkey and Turkey's Fiscal Positions
| | | Week 13 | Fiscal Discipline and Fiscal Policy
| | | Week 14 | Fiscal Policy and Income Distribution Distributional Justice and Fiscal Policy Public Intervention and Income Redistribution
| | | Week 15 | Fiscal Policy and Economic Development Fiscal policy and Growth Public Finance and Economic Development in Turkey
| | | Week 16 | End-of-term exam
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| 1 | Pınar, A., 2022, Maliye Politikası, 8. Baskı, Turhan Kitabevi, Ankara | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 15/04/2025 | 1 | 30 | | In-term studies (second mid-term exam) | 12 | 20/05/2025 | 1 | 20 | | End-of-term exam | 16 | 17/06/2025 | 1 | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 6 | 14 | 84 | | Sınıf dışı çalışma | 5 | 14 | 70 | | Arasınav için hazırlık | 6 | 4 | 24 | | Arasınav | 1 | 1 | 1 | | Ödev | 1 | 5 | 5 | | Dönem sonu sınavı için hazırlık | 6 | 5 | 30 | | Dönem sonu sınavı | 1 | 1 | 1 | | Diğer 2 | 10 | 1 | 10 | | Total work load | | | 225 |
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