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| MLY 428 | Policy of Public Finance | 3+0+0 | ECTS:6 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of FINANCE | | Prerequisites and co-requisites | None | | Mode of Delivery | Face to face | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | -- | | Co-Lecturer | None | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | This course aims to provide the students general knowledge about fiscal policy practises and how to apply fiscal policy for economic stability and growth. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | 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), LO : 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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