Macroeconomic Analysis and Conjuncture
mulus@gsu.edu.tr
Content
Objective
The aim of this course is to equip students with the ability to understand and analyse macroeconomic developments, economic fluctuations and macroeconomic policies. Alongside a foundation in economic theory, the course examines current economic developments to broaden students’ perspectives on economic issues.
Course Content
The course covers the main macroeconomic models used to explain economic fluctuations. Topics include long run economic performance; labour market models and developments; saving, consumption and investment decisions; the functioning of asset markets; the characteristics and causes of business cycles; economic policies; and open economy macroeconomic models.
Course Learning Outcomes
Upon successful completion of the course, students are expected to be able to:
1. Identify the main macroeconomic problems and aggregates.
2. Understand the causes of economic fluctuations and their effects on different markets.
3. Analyse the short, medium and long term economic effects of policies, whether implemented or not.
4. Combine analytical results with data and apply theoretical knowledge to different economic conditions.
Teaching and Learning Methods
Lecture
References
Abel, A.B, Bernanke, B.S, ve Croushure, D. (2017) "Makroekonomi" Efil Yayınevi
Williamson, S. (2018) “Macroeconomics”, Global 6th Edition, Pearson
De Vroey, M. (2016). A history of macroeconomics from Keynes to Lucas and beyond. Cambridge University Press
Weekly Contents
| Week | Weekly Contents |
|---|---|
| 1 | Introduction to macroeconomic methods and problems |
| 2 | Macroeconomic aggregates, measurement and alternative definitions |
| 3 | Basic closed economy macroeconomic models — long run economic performance and the labour market |
| 4 | The labour market in Türkiye — structure, key indicators and problems |
| 5 | Consumption, saving and investment |
| 6 | The open economy — key indicators, saving and investment |
| 7 | The asset market |
| 8 | Midterm examination |
| 9 | Business cycle fluctuations — key indicators and the Turkish economy |
| 10 | Business cycle fluctuations — theoretical approaches |
| 11 | Business cycle fluctuations — causes and economic policy from the classical perspective |
| 12 | Business cycle fluctuations — causes and economic policy from the Keynesian perspective |
| 13 | Exchange rates, open economy macroeconomic models and policy |
| 14 | Synthesis |
Assessment System
| Activities | Number | Contribution |
|---|---|---|
| Contribution of in-term studies to overall grade | 2 | 50 |
| Contribution of final exam to overall grade | 1 | 50 |
| Total | 3 | 100 |
| Activities | Number | Contribution |
|---|---|---|
| Assignments | 1 | 20 |
| Presentation | 0 | 0 |
| Midterm Examinations (including preparation) | 1 | 30 |
| Project | 0 | 0 |
| Laboratory | 0 | 0 |
| Other Applications | 0 | 0 |
| Quiz | 0 | 0 |
| Term Paper/ Project | 0 | 0 |
| Portfolio Study | 0 | 0 |
| Reports | 0 | 0 |
| Learning Diary | 0 | 0 |
| Thesis/ Project | 0 | 0 |
| Seminar | 0 | 0 |
| Other | 0 | 0 |
| Total | 2 | 50 |
ECTS
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 14 | 3 | 42 |
| Working Hours out of Class | 14 | 3 | 42 |
| Assignments | 1 | 20 | 20 |
| Presentation | 0 | 0 | 0 |
| Midterm Examinations (including preparation) | 1 | 20 | 20 |
| Project | 0 | 0 | 0 |
| Laboratory | 0 | 0 | 0 |
| Other Applications | 0 | 0 | 0 |
| Final Examinations (including preparation) | 1 | 25 | 25 |
| Quiz | 0 | 0 | 0 |
| Term Paper/ Project | 0 | 0 | 0 |
| Portfolio Study | 0 | 0 | 0 |
| Reports | 0 | 0 | 0 |
| Learning Diary | 0 | 0 | 0 |
| Thesis/ Project | 0 | 0 | 0 |
| Seminar | 0 | 0 | 0 |
| Other | 0 | 0 | 0 |
| Make-up | 0 | 0 | 0 |
| Yıl Sonu | 0 | 0 | 0 |
| Hazırlık Yıl Sonu | 0 | 0 | 0 |
| Hazırlık Bütünleme | 0 | 0 | 0 |
| Total Workload | 149 | ||
| Total Workload / 25 | 5.96 | ||
| Credits ECTS | 6 | ||