ECTS - Political Economy of Financial Crises

Political Economy of Financial Crises (POEC646) Course Detail

Course Name	Course Code	Season	Lecture Hours	Application Hours	Lab Hours	Credit	ECTS
Political Economy of Financial Crises	POEC646		3	0	0	3	5

Pre-requisite Course(s)
N/A

Course Language	English
Course Type	N/A
Course Level	Ph.D.
Mode of Delivery	Face To Face
Learning and Teaching Strategies	Lecture.
Course Coordinator
Course Lecturer(s)	Prof. Dr. Sinan Sönmez
Course Assistants
Course Objectives	Different aspects of the financial crisis is the main theme; study of different theoretical approaches and models, impact of the financial globalization oneconomic-financial structures, analysis of the 2008-2009 global financial-economic crisis, its impact on real economy, The Euro area – sovereign debt- crisis
Course Learning Outcomes	The students who succeeded in this course; To learn the different theories and models of financial crisis (currency crisis, liquidity crisis….) To understand the linkage between the financial globalization and the global financial crisis To learn the development and dimensions of the global imbalances, new financial architecture as well as their impact on the global financial;The analysis of the Euro area sovereign debt problem, the Greek problem and the assymetric monetary and economic rlations in the Euro area
Course Content	Overview of the history of the financial-economic crisis; the structural transformation of the world economy: from 19th to 21st century; Bretton Woods system; neoliberal globalization, financial liberalization and the asymetric development in the world economy; global imbalances in the era of globalization and the new financial architecture; theori

Weekly Subjects and Releated Preparation Studies

Week	Subjects	Preparation
1	Overview of the history of the financial-economic crisis
2	The structural transformation of the world economy: from 19th to 21st century
3	Establishment of the Bretton Woods system and its impact on the world economy
4	Neoliberal globalization, financial liberalization and the asymetric development in the world economy
5	Global imbalances in the era of globalization and the new financial architecture (I)
6	Global imbalances in the era of globalization and the new financial architecture (II)
7	Theories of financial crisis and models (I)
8	Theories of financial crisis and models (II)
9	The structural properties of the 2008-2009 global financial crisis
10	Leading indicators and the impact of the global financial crisis
11	Euro area sovereign debt crisis (I)
12	Euro area sovereign debtcrisis (II)
13	The Greek Problem
14	The policy responses to the crisis and the alternative solutions to the debt crisis and the austerity
15	Euro area sovereign debt crisis and the macroeconomic imbalances in Turkey
16	What have we learned? General evaluationand discussion

Sources

Other Sources	1. Frank, Andre Gunder (editör) (2003), Dünya Sistemi, İmge Kitabevi, Ankara.
	2. Rosanvallon, Pierrre (2004), Refah Devletinin Krizi, Dost Kitabevi yayını, Ankara.
	3. Roubini, Nouriel ve Mihm, Stephen (2012), Kriz Ekonomisi, Pegasus, İstanbul.
	4. Rodrik, Dani (2011), The Globalization Paradox: Democracy and the Future of the World Economy, Norton, New York.
	5. Eichengreen, Barry (2008), Globalizing Capital: A History of the International Monetary System, 2nd ed., Yale University Press, New Haven and London.
	6. Akman, Cüneyt (2010), Küresel Kriz, Kalkedon, İstanbul.
	7. Akalın,Gülsüm ve Akalın, Uğur Selçuk (editör) (2009), Neoliberal İktisadım Marksist Eleştirisi, Kalkedon, İstanbul
	8. Krugman, P. (2001), “ Crises: The next generation?”, paper presented for Razin Conference, Tel Aviv University, March 25-26.
	9. Eichengreen, B. and Bordo, M. D. (2002), “Crises now and then: What lessonsfrom the last era of financial globalization?” , NBER, Working paper 8716, January, http://www.nber.org/papers/w8716
	10. Blanchard, O. and Milesi-Ferretti, G. M. (2009), “Global imbalances : In midstream” IMF Staff Position Note, SPN/09/29, IMF, December 22.
	11. Boratav, K. “A comparison of two cycles in the world economy:1989-2007”, The IDEAS Working Paper Series, Paper No: 07/2009 http://networkideas.org/working/aug 2009/wp26_07_2009.htm
	12. EuroMemorandum Group (2009), Europe in crisis: A critique of the EU’s failure to respond, EuroMemorandum 2009/2010.
	13. Thomas I. Palley (2011), Monetary Union stability: the need for a government banker and the case for a European Public Finance Authority, IMK Working Paper 2/2011, February.
	14. Koutsabinas, T. “2010), “A Keynes moment in the global financial collapse”, Real-World Economic Revew, issue no:52, 82-99.
	15. Uygur, E (2010), The Global Crisis and The Turkish Economy, Third World Network, Penang.
	16. Sönmez, S. (1999) “Gündemdeki Kriz Üzerine”, Marksizm ve Gelecek, 9-36, Bahar.

Evaluation System

Requirements	Number	Percentage of Grade
Attendance/Participation	-	-
Laboratory	-	-
Application	-	-
Field Work	-	-
Special Course Internship	-	-
Quizzes/Studio Critics	-	-
Homework Assignments	-	-
Presentation	1	10
Project	1	40
Report	-	-
Seminar	-	-
Midterms Exams/Midterms Jury	-	-
Final Exam/Final Jury	1	50
Toplam	3	100

Percentage of Semester Work
Percentage of Final Work	100
Total	100

Course Category

Core Courses	X
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

The Relation Between Course Learning Competencies and Program Qualifications

#	Program Qualifications / Competencies	Level of Contribution
#	Program Qualifications / Competencies	1	2	3	4	5
1	To compare main theories and/or approaches in political economy and make a critical evaluation of each					X
2	To compare main macroeconomic theories and/or approaches and make a critical evaluation of each				X
3	To use complementary approaches from other relevant disciplines (e.g. political science, sociology) in order to solve problems requiring scientific expertise					X
4	To develop the skills for establishing a micro-macro link in human and social sciences				X
5	To analyze the main economic indicators and comment on them					X
6	To acquire theoretical knowledge through literature survey and derive empirically testable hypothesis		X
7	To be able to develop new approaches/theories for complex problems in political economy	X
8	To apply critical thinking, statistical/econometric tools or other relevant quantitative and qualitative tools to new areas/problems			X
9	To make a research design and carry it out within predetermined time frames		X
10	To formulate and present policy recommendations based on academic research			X
11	To continue learning and undertake advanced research independently					X

ECTS/Workload Table

Activities	Number	Duration (Hours)	Total Workload
Course Hours (Including Exam Week: 16 x Total Hours)	16	3	48
Laboratory
Application
Special Course Internship
Field Work
Study Hours Out of Class	16	4	64
Presentation/Seminar Prepration
Project
Report
Homework Assignments
Quizzes/Studio Critics
Prepration of Midterm Exams/Midterm Jury	1	2	2
Prepration of Final Exams/Final Jury	1	3	3
Total Workload			117