Information Package / Course Catalogue
| Economics | |||||
| Bachelor | Length of the Programme: 4 | Number of Credits: 240 | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF: Level 6 |
ECTS Course Information Package
| School/Faculty/Institute | Faculty of Economics, Administrative and Social Sciences | ||||
| Course Code | ECON 204 | ||||
| Course Title in English | Macroeconomic Theory II | ||||
| Course Title in Turkish | Makroekonomik Teori II | ||||
| Language of Instruction | EN | ||||
| Type of Course | Flipped Classroom | ||||
| Level of Course | Intermediate | ||||
| Semester | Spring | ||||
| Contact Hours per Week |
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| Estimated Student Workload | 135 hours per semester | ||||
| Number of Credits | 5 ECTS | ||||
| Grading Mode | Standard Letter Grade | ||||
| Pre-requisites |
ECON 203 - Macroeconomic Theory I |
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| Co-requisites | None | ||||
| Expected Prior Knowledge | Prior Knowledge of Macroeconomic Theory and Mathematics is expected. | ||||
| Registration Restrictions | Only Undergraduate Students | ||||
| Overall Educational Objective | To learn the theory and tools necessary to understand the aggregate economy. | ||||
| Course Description | This course focuses on the role of expectations in financial markets, in output fluctuations, in consumption and investment decisions. In the context of the course the implications of openness in goods markets and financial markets, the properties of different exchange rate regimes and current challenges in monetary and fiscal policy are also examined. |
Course Learning Outcomes and CompetencesUpon successful completion of the course, the learner is expected to be able to:1) Analyzes the role of expectations in financial markets, consumption and investment decisions, and output fluctuations. 2) Explains the implications of openness in goods and financial markets. 3) Analyzes equilibrium in goods and financial markets in an open economy. 4) Evaluates the properties of alternative exchange rate regimes. 5) Assesses fiscal and monetary policy in an open economy under international capital mobility. |
| Program Learning Outcomes/Course Learning Outcomes | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| 1) Relates economic knowledge with other social sciences and mathematics, and utilizes it in interdisciplinary analyses | |||||
| 2) Differentiates between the interactions of various fields of economics and synthesizes these distinctions | |||||
| 3) Analyzes economic phenomena by modeling microeconomic and macroeconomic theories using mathematical and statistical tools | |||||
| 4) Evaluate alternative theoretical approaches to solving complex economic problems and rationally apply their findings in decision-making processes | |||||
| 5) Analyze and compare different economic systems using quantitative techniques | |||||
| 6) Apply economic theoretical knowledge and models to issues related to the Turkish and global economies and design evidence-based policy recommendations | |||||
| 7) Analyzes economic data using econometric and statistical methods and presents the results using appropriate software programs | |||||
| 8) Conducts and reports on all stages of economic analysis in accordance with scientific and ethical principles | |||||
| 9) Uses written and spoken English (at least CEFR B2 level) in scientific knowledge sharing | |||||
| 10) Integrates social responsibility into economic decision-making processes | |||||
| 11) Develops the learning competencies necessary for further studies with a high degree of autonomy |
Relation to Program Outcomes and Competences
| N None | S Supportive | H Highly Related |
| Program Outcomes and Competences | Level | Assessed by | |
| 1) | Relates economic knowledge with other social sciences and mathematics, and utilizes it in interdisciplinary analyses | H | HW,Exam |
| 2) | Differentiates between the interactions of various fields of economics and synthesizes these distinctions | H | HW,Exam |
| 3) | Analyzes economic phenomena by modeling microeconomic and macroeconomic theories using mathematical and statistical tools | H | HW,Exam |
| 4) | Evaluate alternative theoretical approaches to solving complex economic problems and rationally apply their findings in decision-making processes | H | HW,Exam |
| 5) | Analyze and compare different economic systems using quantitative techniques | H | HW,Exam |
| 6) | Apply economic theoretical knowledge and models to issues related to the Turkish and global economies and design evidence-based policy recommendations | H | HW,Exam |
| 7) | Analyzes economic data using econometric and statistical methods and presents the results using appropriate software programs | N | |
| 8) | Conducts and reports on all stages of economic analysis in accordance with scientific and ethical principles | S | HW,Exam |
| 9) | Uses written and spoken English (at least CEFR B2 level) in scientific knowledge sharing | H | HW,Exam |
| 10) | Integrates social responsibility into economic decision-making processes | S | HW,Exam |
| 11) | Develops the learning competencies necessary for further studies with a high degree of autonomy | S | HW,Exam |
| Prepared by and Date | NAZLI KARAMOLLAOĞLU , August 2025 |
| Course Coordinator | MUHAMMED ABDULLAH ALTUNDAL |
| Semester | Spring |
| Name of Instructor |
Course Contents
| Week | Subject |
| 1) | Introduction |
| 2) | Financial Markets and Expectations (Bonds) |
| 3) | Financial Markets and Expectations (Stocks) |
| 4) | Expectations, Consumption, and Investment |
| 5) | Expectations, Output, and Policy |
| 6) | Openness in Goods and Financial Markets |
| 7) | The Goods Market in an Open Economy |
| 8) | Review and Midterm |
| 9) | Output, the Interest Rate, and the Exchange Rate |
| 10) | Exchange Rate Regimes |
| 11) | Should Policymakers Be Restrained? |
| 12) | Fiscal Policy: A Summing Up |
| 13) | Monetary Policy: A Summing Up |
| 14) | Review |
| 15) | Final Examination Period |
| 16) | Final Examination Period |
| Required/Recommended Readings | Macroeconomics, by Oliver Blanchard Pearson, 8th edition. | |||||||||||||||
| Teaching Methods | Flipped classroom | |||||||||||||||
| Homework and Projects | Homework and Quizzes | |||||||||||||||
| Laboratory Work | None | |||||||||||||||
| Computer Use | None | |||||||||||||||
| Other Activities | None | |||||||||||||||
| Assessment Methods |
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| Course Administration |
karamollaoglun@mef.edu.tr Nazlı Karamollaoglu – karamollaoglun@mef.edu.tr More detailed information about the course, like office hours, can be found on the blackboard. Attendance is required. Academic Dishonesty and Plagiarism: YOK Regulation |
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ECTS Student Workload Estimation
| Activity | No/Weeks | Hours | Calculation | ||||
| No/Weeks per Semester | Preparing for the Activity | Spent in the Activity Itself | Completing the Activity Requirements | ||||
| Course Hours | 14 | 1.5 | 3 | 2 | 91 | ||
| Homework Assignments | 10 | 1 | 1 | 20 | |||
| Quiz(zes) | 4 | 1 | 0.5 | 6 | |||
| Midterm(s) | 1 | 6 | 2 | 8 | |||
| Final Examination | 1 | 10 | 2 | 12 | |||
| Total Workload | 137 | ||||||
| Total Workload/25 | 5.5 | ||||||
| ECTS | 5 | ||||||