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| IKT 341 | 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 | Face to face | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | -- | | Co-Lecturer | PROF. DR. HAYDAR AKYAZI, | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The aim of this course is to provide the students with a general knowledge on monetary theory and policy. Especially financial institutions, central banking, money supply and demand and interest theory. |
| 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. | 1,2,3,4,5,6,7,8 | 1,3 | | 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. | 1,2,3,4,5,6,7,8 | 1,3 | | 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. | 1,2,3,4,5,6,7,8 | 1,3 | | 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. | 1,2,3,4,5,6,7,8 | 1,3 | | LO - 5 : | attain the results that they are able to use by institutions that they implement economic stabilisation measures and monetary policy. | 1,2,3,4,5,6,7,8 | 1,3 | | 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?, what is money?, definitions of money and it's functions) , financial system (financial markets, it's structure, tools and functions, financial institutions) , financial sector in Turkey (the central bank, commercial banks, investment and development banks, insurance companies, credit cooperatives) , money supply (the definitions of money supply and the role of central banking, multiple deposit creation and money supply process, money multiplier end factors that determine the money multiplier) , demand for money (Quantity Theory of Money, Cambridge approach to money demand, Keynes's Liquidity Preference Theory, Friedman's Modern Quantity Theory, Neo Keynesian money demand theories, empirical evidence on the demand for money, monetary policy) , Interest theory. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | İntroduction to the theory of money | | | Week 2 | Meaning, features and occuring of Money | | | Week 3 | Kinds of Money | | | Week 4 | Functions of financial markets, basic structure and instruments of financial markets | | | Week 5 | Functions of financial markets, basic structure and instruments of financial markets
| | | Week 6 | Financial institutions in Turkey : Cental Bank of Republic of Turkey and commercial banks | | | Week 7 | Financial institutions in Turkey : İstanbul Stock Exchange Market, bankers and other financial institutions. | | | Week 8 | Definition of money suply and the role of central bank (theoretical definition of money suply and CBRT definition of money suply
| | | Week 9 | Mid-term exam | | | Week 10 | The process of money suply (deposits, loan, and money multipliers)
| | | Week 11 | Theories of the demand for money (Neo-classical Quantity Theory : Fisher approach and Cambridge approach) | | | Week 12 | Modern quantity theory (Chicago approach of Neo-Klassical school) | | | Week 13 | Keynesian money demand theory | | | Week 14 | Neo Keynesian money demand theory | | | Week 15 | The Theory of interest | | | Week 16 | Written end-of-term exam | | | |
| 1 | Özyurt, H. 2006;Para Teorisi ve Politikası, Derya Kitabevi, Trabzon | | | |
| 1 | Keyder, N. 2002; 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 | 24/11/2012 | 1 | 50 | | End-of-term exam | 16 | 09/01/2013 | 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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