ECTS - Money and Monetary Policy
Money and Monetary Policy (ECON526 ) Course Detail
| Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Money and Monetary Policy | ECON526 | General Elective | 3 | 0 | 0 | 3 | 5 |
| Pre-requisite Course(s) |
|---|
| N/A |
| Course Language | English |
|---|---|
| Course Type | Elective Courses |
| Course Level | Ph.D. |
| Mode of Delivery | Face To Face |
| Learning and Teaching Strategies | Lecture, Question and Answer. |
| Course Lecturer(s) |
|
| Course Objectives | The aim of the course is to provide a general framework for understanding the functioning of financial and economic systems, with an emphasis on financial institutions and markets in the field of money and banking. |
| Course Learning Outcomes |
The students who succeeded in this course;
|
| Course Content | Survey of development and use of money and credit, analysis of the demand and supply of money, monetary theory and policy tools and their use for economic stabilization, current issues in monetary theory and policy, special applications to Turkey. |
Weekly Subjects and Releated Preparation Studies
| Week | Subjects | Preparation |
|---|---|---|
| 1 | Basic Concepts | Mishkin, Chapter 1;Özatay, Chapter 1 |
| 2 | Introduction to Monetary Economics, the Definition of Money, and Financial Markets | Mishkin, Chapters 2-3; Özatay, Chapter 2 |
| 3 | Deposit Creation and the Money Supply Process, and the Factors Determining the Money Supply | Mishkin, Chapter 14; Özatay, Chapter 3 |
| 4 | Structure of Central Banks, the Central Bank of the Republic of Turkey, and the Instruments of Monetary Policy | Özatay, Chapter 3-4-15 |
| 5 | Money Demand | Özatay, Bölüm 2; Walsh, Chapter 2 |
| 6 | Monetary Policy Administration: Objective and Targets | Mishkin, Chapter 17 |
| 7 | Central Bank Independence | Özatay, Chapter 11 |
| 8 | Midterm | |
| 9 | Financial Crises | Özatay, Chapter 9 |
| 10 | Determination of Exchange Rates | Özatay, Chapter 5 |
| 11 | Monetary Policy Transmission Mechanisms | Özatay, Chapter 7 |
| 12 | New Classical Models | Woodford Chapter 1; Scarth Chapter 5 |
| 13 | New Keynesian Models | Woodford Chapter 3; Scarth Chapter 10 |
| 14 | Presentation |
Sources
| Course Book | 1. Mishkin, Frederic S. Para, Bankacılık ve Finansal Piyasalar İktisadı, Akademi Yayıncılık, Ankara. |
|---|---|
| 2. Walsh, Carl E. Monetary Theory and Policy, 4th Edition, The MIT Press, 2017. | |
| 3. Scarth, W. M. Macroeconomics: An Introduction to Advanced Methods, Harcourt Brace Jovanovich, Inc., 1988. | |
| 4. Özatay, Fatih, Parasal İktisat, Kuram ve Politika, Efil Yayınevi, 2018. | |
| 5. Woodford, M. Interest and Prices Foundations of a Theory of Monetary Policy, Princeton University Press, 2003. |
Evaluation System
| Requirements | Number | Percentage of Grade |
|---|---|---|
| Attendance/Participation | 1 | 10 |
| Laboratory | - | - |
| Application | - | - |
| Field Work | - | - |
| Special Course Internship | - | - |
| Quizzes/Studio Critics | - | - |
| Homework Assignments | 1 | 15 |
| Presentation | - | - |
| Project | - | - |
| Report | - | - |
| Seminar | - | - |
| Midterms Exams/Midterms Jury | 1 | 35 |
| Final Exam/Final Jury | 1 | 40 |
| Toplam | 4 | 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 | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | Compares basic approaches and/or theories in political economy and critically evaluates each one | |||||
| 2 | Compares basic macroeconomic theories and/or approaches and critically evaluates each one | |||||
| 3 | Solves problems using complementary approaches from other related disciplines (political science, sociology, etc.) | |||||
| 4 | Develops necessary skills to establish micro-macro relationships in humanities and social sciences | |||||
| 5 | Analyzes basic economic indicators and makes interpretations | |||||
| 6 | Acquires theoretical knowledge by conducting literature review and derives empirically testable hypotheses | |||||
| 7 | Develops new approaches/theories to solve complex problems in political economy | |||||
| 8 | Can apply critical thinking and/or qualitative and quantitative techniques to new fields/problems | |||||
| 9 | Can design research and conduct the research within an appropriate time frame | |||||
| 10 | Can develop and present policy recommendations based on academic research | |||||
| 11 | Continues learning and can conduct advanced research independently | |||||
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 | 2 | 32 |
| Presentation/Seminar Prepration | |||
| Project | |||
| Report | |||
| Homework Assignments | 1 | 15 | 15 |
| Quizzes/Studio Critics | |||
| Prepration of Midterm Exams/Midterm Jury | 1 | 15 | 15 |
| Prepration of Final Exams/Final Jury | 1 | 15 | 15 |
| Total Workload | 125 | ||