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| IKT2035 | Macroeconomics - I | 3+0+0 | ECTS:7 | | 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 | Doç. Dr. Osman Murat TELATAR | | Co-Lecturer | None | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | To develop skills of the students in understanding undergraduate topics on macroeconomics. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | identify some of the fundemantel economic concepts. | 1,2,3 | 1, | | LO - 2 : | understand and evaluate the assumption and body of macroeconomic theory. | 1,2,3 | 1, | | LO - 3 : | formulate appropriate government policy responses to economic instability through fiscal and monetary policy. | 1,2,3 | 1, | | LO - 4 : | analyze current economic events and macroeconomic issues. | 1,2,3 | 1, | | LO - 5 : | use simple models to show the impact of fiscal and monetary policy. | 1,2,3 | 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 | | |
| National accounting system, real and nominal GNP, inflation and unemployment, microeconnomics behind macroeconomics, monetary policy, closed and open basic Keynesian models, closed and open IS-LM models, aggregate demand-aggregate supply model, business cycle theories, growth theories
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Measuring the value of economic activity, gross domestic product(GDP), rules for computing GDP, real and nominal GDP, the GDP deflator, other measures of income | | | Week 2 | Measuring the cost of living, price indexes, consumer price index, producers price index, implicit price index, measuring inflation rates | | | Week 3 | Unemployment, measuring of joblessness, unemployment rate, GDP, and Okun's Law | | | Week 4 | Microeconnomics behind macroeconomics, consumption, Keynes and the consumption function, Fisher and intertemporal choice, Modigliani and the life-cycle hypothesis, Friedman and parmanent-income hypothesis | | | Week 5 | Microeconnomics behind macroeconomics, investment, fixed investment, residential investment, inventory investment | | | Week 6 | Money supply, the definition of money, the functions of money, components of money supply | | | Week 7 | Demand for money, transactions, precautionary, and speculative demand for money, the theories of money demand | | | Week 8 | Monetary policy, instuments of monetary policy, strategies of monetary policy, fiscal policy, instruments of fiscal policy
| | | Week 9 | Mid-term exam | | | Week 10 | The Keynesian systems, the simple Keynesian model, the components of aggregate demand, determining equilibrium income, changes in equilibrium income, the multiplier, exports and imports in the simple Keynesian model | | | Week 11 | The Keynesian systems, the IS-LM model, money market equilibrium and LM curve, product market equilibrium and IS curve, analyze of IS and LM curves together, equilibrium in the IS-LM model, analysis of fiscal and monetary policy in the IS-LM model | | | Week 12 | The Keynesian systems, monetary and fiscal policy in open economy, the Mundell-Fleming model, imperfect capital mobility, perfect capital mobility | | | Week 13 | The Keynesian systems, aggregate supply curve, aggregate demand curve, wage rigidity, model equilibrium, aggregate supply and demand analysis, shifts on supply and demand curves | | | Week 14 | Business cycle theories, introduction to economic fluctuations, shocks to aggregate demand, shocks to aggregate supply, monetary and fiscal policy in business cycle theory | | | Week 15 | Growth theories, the accumulation of capital, the golden rule capital level, population growth, the Solow growth model, endogenous growth theory | | | Week 16 | End-of-term exam | | | |
| 1 | Ünsal, E. M. 2013; Makro İktisat, İmaj Yayınları, 10. Baskı, Ankara | | | |
| 1 | Bocutoğlu, E. 2013; Makro İktisat Teoriler ve Politikalar, Murathan Yayınevi, 10. Baskı, Trabzon | | | 2 | Froyen, R.T.2005; Macroeconomics Theories and Policies, Eighth Ed., Prentice Hall, USA | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 11/2022 | 1 | 50 | | End-of-term exam | 16 | 01/2023 | 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 | 10 | 14 | 140 | | Arasınav için hazırlık | 12 | 1 | 12 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 14 | 1 | 14 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 210 |
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