Macroeconomics II
izeyneloglu@gmail.com
Content
Objective
explain the relationship between various indicators in a closed economy and study the theoretical framework necessary to predict the efficiency of macroeconomic policy applications
Course Content
the course starts with the concept of equilibrium according to the main schools (Keynesian, Classical, Monetarist) and analyzes the effect of macroeconomic policies on the general equilibrium of a closed economy in the short run through the IS-LM framework. To analyze the medium run effects of macroeconomic policies, the course presents the WS-PS and AD-AS models along with the Phillips curve. The long run growth policies are analyzed using a simple growth model as an introduction to the "growth theories" course in the third year.
Course Learning Outcomes
have a knowledge of main schools of economic thought
discuss the possible outcomes of economic policy in different situations ( immediate impact, long run effect etc...)
understand the theoretical background of current economic developments
Teaching and Learning Methods
practice sessions are student-centered
theoretical sessions are teacher-centered
References
macroéconomie , Blanchard et Cohen, Pearson edts.
Chp 3-4-5-6 (short run)
Chp 8-10-11 (long run)
Chp 7 p. 158-169 (medium run)
Weekly Contents
| Week | Weekly Contents |
|---|---|
| 1 | Recap: macroeconomic aggregates and national accounting identities |
| 2 | Short run: Goods market, money demand |
| 3 | Shhort run: money supply, money market equilibrium |
| 4 | Short run: IS-LM Framework |
| 5 | Practice session, Quiz |
| 6 | Medium run: labour market, WS-PS model |
| 7 | National Holiday |
| 8 | Medium run: From WS-PS to AD-AS |
| 9 | Mid-term exam |
| 10 | Medium run: inflation-unemployment trade-off, Phillips Curve |
| 11 | practice session, Quiz |
| 12 | Long Run: Introduction to growth theories |
| 13 | Long Run: capital accumulation |
| 14 | Practice session and recap |
| Week | Weekly Contents |
|---|---|
| 3 | |
| 4 | |
| 5 | |
| 6 | |
| 7 | |
| 8 | |
| 9 | |
| 10 | |
| 11 | |
| 12 | |
| 13 | |
| 14 |
Assessment System
| Activities | Number | Contribution |
|---|---|---|
| Contribution of in-term studies to overall grade | 3 | 50 |
| Contribution of final exam to overall grade | 1 | 50 |
| Total | 4 | 100 |
| Activities | Number | Contribution |
|---|---|---|
| Assignments | 0 | 0 |
| Presentation | 0 | 0 |
| Midterm Examinations (including preparation) | 1 | 30 |
| Project | 0 | 0 |
| Laboratory | 0 | 0 |
| Other Applications | 0 | 0 |
| Quiz | 2 | 20 |
| 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 | 3 | 50 |
Relation of Proficiency
| 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. | |||||
| 5 | Demonstrate basic knowledge of the world economic history and a sound knowledge of the Turkish economic history | |||||
| 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 | |||||
| 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 | X | ||||
| 11 | Reason logically and work analytically | |||||
| 12 | Show awareness on social aspects of the economics in different applied and theoretical fields | |||||
| 13 | Identify appropriate economic models to analyse problems | X | ||||
| 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 | |||||
ECTS
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 14 | 3 | 42 |
| Working Hours out of Class | 14 | 2 | 28 |
| Assignments | 0 | 0 | 0 |
| Presentation | 0 | 0 | 0 |
| Midterm Examinations (including preparation) | 2 | 12 | 24 |
| Project | 0 | 0 | 0 |
| Laboratory | 0 | 0 | 0 |
| Other Applications | 0 | 0 | 0 |
| Final Examinations (including preparation) | 1 | 17 | 17 |
| Quiz | 1 | 6 | 6 |
| Term Paper/ Project | 0 | 0 | 0 |
| Portfolio Study | 0 | 0 | 0 |
| Reports | 0 | 0 | 0 |
| Learning Diary | 4 | 1 | 4 |
| Thesis/ Project | 0 | 0 | 0 |
| Seminar | 0 | 0 | 0 |
| Other | 1 | 2 | 2 |
| Make-up | 0 | 0 | 0 |
| Total Workload | 123 | ||
| Total Workload / 25 | 4.92 | ||
| Credits ECTS | 5 | ||