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| IKT3014 | Monetary Theory and Policy | 3+0+0 | ECTS:4 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Elective | | Department | DEPARTMENT of PUBLIC ADMINISTRATION | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Doç. Dr. İbrahim AL | | Co-Lecturer | None | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The course aims to provide the students with a general knowledge on monetary theory and policy. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | gain information fundamental conceptions, process and methods about money market, monetary theory and policy. | 2,6 | | | LO - 2 : | understand that the logic of money markets, the description of money supply and its determinants, money demands theories, the aims and instruments of monetary policy and fiscal policies. | 2,6 | | | LO - 3 : | determine the money supply by the aid of balance sheets of CB and dep.banks, the money multiplication, money demand and interest rates, the using of mon. pol. Instr., monetary transm. mech. and money and fiscal policy appl.. | 2,6 | | | LO - 4 : | analyze the interaction mechanisms between financial sector and real sector by using technics which learned in monetary theory and policy courses and macroeconomics especially for Turkish economy and other economies. | 2,6 | | | LO - 5 : | attain the results that they are able to use by institutions that they implement economic stabilisation measures and monetary policy. | 2,6 | | | 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 | | |
| Monetary theory and policy tools, an overview of the financial mechanism, interest rate determination and the working of the capital market, analysis of the demand and supply of money. monetary transmission mechanism and monetary approach to balance of payments, selected macro models in which money appears as an endogenous variable, special applications to Turkey. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Meaning, features and occuring and kinds of Money
| | | Week 2 | Functions of money and definition of money suply
| | | Week 3 | Functions of financial markets, basic structure and instruments of financial markets
| | | Week 4 | Functions of financial intermediation, mainly financial institutions and financial institutions in Turkey
| | | Week 5 | Cental Bank of Republic of Turkey, commercial banks, İstanbul Stock Exchange Market, bankers and other financial institutions.
| | | Week 6 | Definition of money suply and the role of central bank (theoretical definition of money suply and CBRT definition of money suply
| | | Week 7 | Process of money suply (deposits, loan, and money multipliers)
| | | Week 8 | Theories of the demand for money (Neo-classical Quantity Theory : Fisher approach and Cambridge approach)
| | | Week 9 | Mid-term exam | | | Week 10 | Modern quantity theory (Chicago approach of Neo-classical school) and Keynesian money demand theory
| | | Week 11 | Basic structure, goals and instruments of monetary policy
| | | Week 12 | Strategies of monetary policy (exchange rate targeting, monetary targeting, inflation targeting)
| | | Week 13 | The applications of monetary policies in Turkey since 1923
| | | Week 14 | Monetary and fiscal policies, real and nominal sectors and IS-LM analysis, inefficiency of moneary and fiscal policies (crowding out)
| | | Week 15 | Macroeconomic general balance analysis: according to different economic schools transmitions mechanism (general balance analysis in Keynesian and Classical systems)
| | | Week 16 | End-of-term exam | | | |
| 1 | Özyurt, H. 2015; Para Teorisi ve Politikası, Aksakal Kitabevi, Trabzon | | | |
| 1 | Keyder, N. 2012; Para Teori-Politika-Uygulama, Seçkin Yayıncılık ve Dağıtım, Ankara | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 4/2024 | | 50 | | End-of-term exam | 16 | 6/2024 | | 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 | 1 | 10 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 10 | 1 | 10 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 120 |
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