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| IKT3001 | Monetary Theory | 3+0+0 | ECTS:5 | | Year / Semester | Fall Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of ECONOMICS | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Prof. Dr. Haydar AKYAZI | | Co-Lecturer | Assoc. Prof. Dr. İbrahim AL | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | TThe aim of this course is to provide undergraduate level information on the financial system, money supply theory, money demand theory, interest theory and exchange rate theory, which are the basic subjects of monetary theory. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | learn the basic concepts of the financial system, its structure and the role of the financial system in the economy. | 1,3,6 | 1, | | LO - 2 : | explain the functions and types of money and the role of money in the economy. | 1,3,6 | 1, | | LO - 3 : | analyze data on the determinants of money demand and money supply. | 1,3,6 | 1, | | LO - 4 : | explain the determination and behavior of interest rate and exchange rate. | 1,3,6 | 1, | | LO - 5 : | have knowledge about the monetary dynamics of economic problems. | 1,3,6 | 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), LO : Learning Outcome | | |
| Introduction (why study money?), Definitions of money and it's functions, Financial system (financial markets, financial institutions and instruments), Money supply (the definitions of money supply, central bank balance sheet, deposit money, money supply increase mechanism, and determinants of the money supply), Demand for money (Quantity Theory of Money, Liquidity Preference Theory, Neo Keynesian money demand theories, and Modern Quantity Theory), Interest theory, Exchange rate theory, Introduction to monetary policy. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | İntroduction to the theory of money | | | Week 2 | Meaning, features, kinds and functions of money | | | Week 3 | Functions of financial markets, basic structure and instruments of financial markets | | | Week 4 | Functions of financial intermediation, main financial intermediaries | | | Week 5 | Financial institutions in Turkey | | | Week 6 | Central Bank's analytical balance sheet, monetary aggregates obtained from the analytical balance sheet, CBRT money supply definitions | | | Week 7 | The process of money suply (deposits, loan, and money multipliers) | | | Week 8 | Classical Quantity Theory | | | Week 9 | Mid-term exam | | | Week 10 | Liquidity Preference Theory | | | Week 11 | Neo Keynesian Money Demand Theories | | | Week 12 | Modern Quantity Theory | | | Week 13 | Interest rate theory | | | Week 14 | Exchange rate theory | | | Week 15 | Introduction to monetary policy | | | Week 16 | End-of-term exam | | | |
| 1 | Özyurt, H. Para Teorisi ve Politikası, Celepler Matbaacılık, Trabzon | | | 2 | Keyder, N. ve Ertunga, E. İ. Para Teori-Politika-Uygulama, Seçkin Yayıncılık ve Dağıtım, Ankara | | | |
| 1 | Özatay, F. Parasal İktisat Kuram ve Teori, Efil Yayınevi, Ankara | | | 2 | Aslan, M. Hanefi, Para Teori ve Politikası, Alfa Aktüel, Bursa | | | 3 | Frederic S. Mishkin, The Economics of Money, Banking, and Financial Markets, The Addison-Wesley Series, USA | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 04/2023 | 1 | 50 | | End-of-term exam | 16 | 06/2023 | 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 | 3 | 14 | 42 | | Sınıf dışı çalışma | 6 | 14 | 84 | | Arasınav için hazırlık | 7 | 1 | 7 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 15 | 1 | 15 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 150 |
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