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| IKT3014 | Monetary Theory and Policy | 3+0+0 | ECTS:4 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of FINANCE | | 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 | Prof. Dr. Haydar AKYAZI | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The course aims to provide students with theoretical and analytical information on the financial system, central banking, money supply, money demand, interest, exchange rate and monetary policy.
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| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | earn the structure of the financial system and the role of the financial system in the economy. | 1,2,4 | 1, | | LO - 2 : | explain the functions and types of money and the role of money in the economy.
| 1,2,4 | 1, | | LO - 3 : | analyze data on the determinants of money demand and money supply. | 1,2,4 | 1, | | LO - 4 : | explain the determination and behavior of interest rates and exchange rates. | 1,2,4 | 1, | | LO - 5 : | have knowledge about the functioning mechanism of monetary policy.
| 1,2,4 | 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 | | |
| Definition, properties and functions of money; Financial system (financial markets, financial institutions, financial instruments, financial sector in Turkey), Money supply (definitions of money supply, central bank balance sheet, fiat money, money supply increase mechanism, determinants of money supply); Demand for money (Quantity Theory of Money, Keynes's Liquidity Preference Theory, Friedman's Modern Quantity Theory); Interest theory; Exchange rate theory; Monetary policy (general structure of monetary policy, monetary policy objectives, tools, strategies), monetary policy applications in Turkey. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Meaning, features, types and functions of money | | | Week 2 | Financial system (financial markets, institutions and instruments, financial sector in Turkey) | | | Week 3 | Financial system (financial markets, institutions and instruments, financial sector in Turkey) | | | Week 4 | Central Bank Analytical Balance Sheet, monetary aggregates obtained from analytical balance sheet, CBRT money supply definitions
| | | Week 5 | Money supply increase process (deposits, credit and money multiplier) | | | Week 6 | Theories of money demand: Classical Quantity Theory (Fisher and Cambridge approach)
| | | Week 7 | Money demand theories: Liquidity Preference Theory and Neo Keynesian Money Demand Theories
| | | Week 8 | Theories of money demand: Modern Quantity Theory
| | | Week 9 | Mid-term exam | | | Week 10 | Interest theories | | | Week 11 | Exchange rate and exchange rate theories
| | | Week 12 | Framework of monetary policy, monetary policy objectives | | | Week 13 | Monetary policy tools and strategies | | | Week 14 | Monetary and exchange rate policy implemented in Turkey | | | Week 15 | The effectıveness of monetary policy in IS-LM and AD-AS Models | | | Week 16 | End-of-term exam | | | |
| 1 | Özyurt, H. Para Teori ve Politikası, Celepler Matbaacılık, Trabzon, 2015. | | | |
| 1 | Keyder, N. ve Ertunga, E.İ. Para Teori-Politika-Uygulama, Seçkin Yayıncılık ve Dağıtım, Ankara, 2012 veya yeni baskıları.
| | | 2 | Para-Banka ve Finans (Editörler: Nadir EROĞLU, H.İ.AYDIN, C.Y.KESBİÇ, Orion Kitabevi, 2016.
| | | 3 | Fatih ÖZATAY, Parasal İktisat Kuram ve Teori, 3. Baskı, Efil Yayınevi, Ankara, 2013 veya yeni baskıları.
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| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | .../04/2024 | 1 | 50 | | End-of-term exam | 16 | .../06/2024 | 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 | 4 | 14 | 56 | | Arasınav için hazırlık | 7 | 1 | 7 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 13 | 1 | 13 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 120 |
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