International Financial Macroeconomics(ECON315)
| Course Code | Course Name | Semester | Theory | Practice | Lab | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| ECON315 | International Financial Macroeconomics | 5 | 3 | 0 | 0 | 3 | 5 |
| Prerequisites | |
| Admission Requirements |
| Language of Instruction | French |
| Course Type | Compulsory |
| Course Level | Bachelor Degree |
| Course Instructor(s) | Alper ACAR aacar@gsu.edu.tr (Email) |
| Assistant | |
| Objective | This course offers an in-depth analysis of the interactions between the financial system and the macroeconomy. It aims to provide students with the theoretical and empirical tools required to understand the role of money, financial intermediaries, and financial markets in economic activity. The curriculum covers the mechanisms of financing the economy, the relationship between finance, growth, and development, as well as credit friction models and modern monetary policy tools. |
| Content | The course examines the role of global financial markets, exchange rate regimes, and capital flows in an open economy. The course covers fundamental exchange rate models, financial market imperfections (bubbles, credit cycles), and the mechanisms of currency, banking, and sovereign debt crises through key historical case studies. Finally, the curriculum explores global imbalances, Mundell's impossible trinity, the effects of unconventional monetary policies, risk management tools, and international regulatory frameworks aimed at ensuring global financial stability. |
| Course Learning Outcomes |
By the end of this course, students will be able to: 1) Understand the fundamental role of money and financial intermediation in the real economy. 2) Analyze the link between financial development, economic growth, and economic development. 3) Master credit friction models (financial accelerator, credit rationing) and their role in macroeconomic fluctuations. 4) Evaluate the transmission mechanisms and modern strategies of central banks, including unconventional policies. |
| Teaching and Learning Methods |
- Lecture-based theoretical and macroeconomic modeling lectures. - Interactive discussions and debates on current macroeconomic and monetary policy issues. - Quizzes. |
| References |
Dees, S. (2019), Macroéconomie financière, Dunod. Descamps, C. (2012), Précis de macroéconomie, Ellipses. Guillochon, B., Peltrault, F., & Venet, B. (2020), Économie Internationale, Dunod. Mishkin, F., adapté par Bordes, C., Hautcoeur, P.-C., Lacoue-Labarthe, D., & Ragot, X., Monnaie, banques et marchés financiers, Pearson. |
Theory Topics
| Week | Weekly Contents |
|---|---|
| 1 | What is money? |
| 2 | Principles of financial intermediation |
| 3 | Historical development of financial activities |
| 4 | Globalization and international financial integration |
| 5 | Finance and growth: Theoretical aspects |
| 6 | Finance and economic development |
| 7 | Finance in traditional macroeconomics |
| 8 | The financial accelerator theory |
| 9 | Credit rationing models |
| 10 | Theoretical foundations and key concepts of monetary policy |
| 11 | Monetary policy transmission mechanisms |
| 12 | Expectations and central bank credibility |
| 13 | Historical evolution of monetary policy |
| 14 | Unconventional monetary policies |
Practice Topics
| Week | Weekly Contents |
|---|
Contribution to Overall Grade
| Number | Contribution | |
|---|---|---|
| Contribution of in-term studies to overall grade | 1 | 40 |
| Contribution of final exam to overall grade | 1 | 60 |
| Total | 2 | 100 |
In-Term Studies
| Number | Contribution | |
|---|---|---|
| Assignments | 0 | 0 |
| Presentation | 1 | 10 |
| Midterm Examinations (including preparation) | 1 | 16 |
| 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 |
| Make-up | 0 | 0 |
| Total | 2 | 26 |
| No | Program Learning Outcomes | Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | Demonstrate a basic knowledge of different economic theories and main discussions driving current theoretical approaches | X | ||||
| 2 | Demonstrate ability to use basic qualitative and quantitative methods to asses different economic questions of applied fields | |||||
| 3 | Show a sound understanding of current economic discussions and problems | X | ||||
| 4 | Have an effective and clear communication in written and oral formats in different public and professional contexts. | X | ||||
| 5 | Demonstrate basic knowledge of the world economic history and a sound knowledge of the Turkish economic history | X | ||||
| 7 | Demonstrate knowledge of standard quantitative techniques and empirical models used in economics | |||||
| 8 | Show ability to apply basic economic theory to an applied topic | X | ||||
| 9 | Show a basic understanding of analytical methods, both theory- and model-based | X | ||||
| 10 | Show ability to use economic concepts to discuss current economic issues | |||||
| 11 | Reason logically and work analytically | X | ||||
| 12 | Show awareness on social aspects of the economics in different applied and theoretical fields | X | ||||
| 13 | Identify appropriate economic models to analyse problems | |||||
| 16 | Show understanding of basic statistical and econometric concepts and ability to apply basic concepts to own empirical work | |||||
| 17 | Demonstrate a sound knowledge of the current economic issues in Turkey and a general knowledge of the issues in the world economy | X | ||||
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 14 | 3 | 42 |
| Working Hours out of Class | 14 | 3 | 42 |
| Assignments | 0 | 0 | 0 |
| Presentation | 3 | 1 | 3 |
| Midterm Examinations (including preparation) | 1 | 4 | 4 |
| Project | 0 | 0 | 0 |
| Laboratory | 0 | 0 | 0 |
| Other Applications | 3 | 1 | 3 |
| Final Examinations (including preparation) | 1 | 6 | 6 |
| 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 | 100 | ||
| Total Workload / 25 | 4.00 | ||
| Credits ECTS | 4 | ||