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| IKT1004 | Macroeconomics | 3+0+0 | ECTS:5 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of BUSINESS | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Dr. Öğr. Üyesi Aykut BAŞOĞLU | | Co-Lecturer | Assoc. Prof. Osman Murat TELATAR | | 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 the fundamental macroeconomic concepts. | 1,2 | 1, | | LO - 2 : | formulate appropriate government policy responses to economic instability through economic policy. | 1,2 | 1, | | LO - 3 : | analyze current economic events and macroeconomic issues. | 1,2 | 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, consumption, investment, money supply and demand, monetary and fiscal policy, closed and open macroeconomics models. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Introduction, schools of macroeconomics, measuring the value of economic activity, gross domestic product(GDP), other measures of income | | | Week 2 | Rules for computing GDP, real and nominal GDP, the GDP deflator, economic growth, per capita GDP and economic welfare | | | Week 3 | The cost of living, price indexes, consumer price index, producers price index, measuring inflation rates | | | Week 4 | Employment and unemployment, measuring of unemployment, unemployment rate, GDP, and Okun's Law | | | Week 5 | Microeconomics behind macroeconomics, consumption, Keynes and the consumption function, Fisher and intertemporal choice, Modigliani and the life-cycle hypothesis, Friedman and permanent income hypothesis
| | | Week 6 | Microeconomics behind macroeconomics, investment, fixed investment, residential investment, inventory investment
| | | Week 7 | Money supply, the definition of money, the functions of money, components of money supply | | | Week 8 | Demand for money, transactions, precautionary, and speculative demand for money, the theories of money demand | | | Week 9 | Mid-term exam | | | Week 10 | Monetary policy, instruments of monetary policy, strategies of monetary policy, fiscal policy, instruments of fiscal policy | | | Week 11 | 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 12 | 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 13 | The Keynesian systems, monetary and fiscal policy in an open economy, the Mundell-Fleming model, imperfect capital mobility, perfect capital mobility
| | | Week 14 | The Keynesian systems, aggregate supply curve, aggregate demand curve, wage rigidity, model equilibrium, aggregate supply and demand analysis, shifts in supply and demand curves | | | Week 15 | General evaluation | | | Week 16 | End-of-term exam
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| 1 | Berber, M. 2019; Makro İktisat, Celepler Matbaacılık, 3. Baskı, Trabzon
| | | 2 | Yalta, A. T. ve Yalta, A. Y. ; Modern Makroekonomiye Giriş, Adres Yayınları, Genişletilmiş 4. Baskı, Ankara | | | |
| 1 | Bocutoğlu, E. 2014; Makro İktisat Teoriler ve Politikalar, Ekin Yayınevi, 15. Baskı, Bursa | | | 2 | Ünsal, E. M. 2020; Makro İktisat, Murat Yayıncılık, Genişletilmiş 11. Baskı, Ankara | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 04/2023 | 38 dakika | 50 | | End-of-term exam | 16 | 06/2023 | 30 dakika | 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 | 4 | 14 | 56 | | Arasınav için hazırlık | 10 | 2 | 20 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 10 | 3 | 30 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 150 |
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