Macroeconomic Theory I (ECON207) Course Detail

Course Name Course Code Season Lecture Hours Application Hours Lab Hours Credit ECTS
Macroeconomic Theory I ECON207 3 0 0 3 6
Pre-requisite Course(s)
Course Language English
Course Type N/A
Course Level Bachelor’s Degree (First Cycle)
Mode of Delivery Face To Face
Learning and Teaching Strategies Lecture, Problem Solving.
Course Coordinator
Course Lecturer(s)
  • Assoc. Prof. Dr. Özgür Bor
Course Assistants
Course Objectives The main aim of this course is to equip students with the basic theories of modern macroeconomics at the intermediate level. This course also aims to provide the necessary tools as well as concepts to analyze the key problems and the related policy issues of macroeconomics.
Course Learning Outcomes The students who succeeded in this course;
  • To learn the basic models of modern macroeconomics at the intermediate level.
  • To explain the main differences between the competing traditional schools of thought in macroeconomics
  • To learn the methodology of macroeconomic analysis.
  • To learn how to apply the basic models and concepts to explain the key events and problems in the Turkish economy and world economy.
Course Content National income accounting; aggregate income and spending model; IS-LM model (closed and open economy versions); monetary and fiscal policy in the IS-LM model; AD-AS model; Phillips curve and Okun?s law; wages, prices, output and unemployment; SRAS alternative views.

Weekly Subjects and Releated Preparation Studies

Week Subjects Preparation
1 An Overview of the Course
2 Introduction to Macroeconomic Theory and Traditional Schools of Thought pp. 2-20 Handout
3 National Income Accounting pp. 22-47
4 Aggregate Income and Spending Model pp. 194-216
5 IS-LM Model: Closed Economy Version pp. 219-245
6 Monetary and Fiscal Policy in Closed Economy pp. 248-276
7 Mid-term Exam
8 IS-LM Model: Open Economy Version pp. 279-295
9 Monetary and Fiscal Policy in the Mundell-Fleming Model pp. 298-310
10 Additional Topics on International Adjustment & Interdependence pp. 508-546
11 AD-AS Model pp. 97-110
12 Monetary and Fiscal Policy: Short-run & Long-run pp. 110-117
13 Phillips Curve and Okun’s Law pp. 118-128
14 Wage & Price Stickiness, Derivation of AS Curve and Alternative Views pp. 129-142
15 General Review
16 Final Exam


Course Book 1. Dornbusch, R., Fischer, S. and R. Startz (2008) Macroeconomics, 10th Edition, McGraw-Hill.
3. Mankiw, Gregory N. (2006) Macroeconomics, 6th Edition, Worth Publishers
Other Sources 2. Froyen, R. T. (2008) Macroeconomics: Theories and Policies, 9th Edition, Prentice Hall.

Evaluation System

Requirements Number Percentage of Grade
Attendance/Participation 1 10
Laboratory - -
Application - -
Field Work - -
Special Course Internship - -
Quizzes/Studio Critics 2 10
Homework Assignments 5 10
Presentation - -
Project - -
Report - -
Seminar - -
Midterms Exams/Midterms Jury 1 30
Final Exam/Final Jury 1 40
Toplam 10 100
Percentage of Semester Work 60
Percentage of Final Work 40
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 Acquiring the skills of understanding, explaining, and using the fundamental concepts and methods of economics X
2 Acquiring the skills of macro level economic analysis X
3 Acquiring the skills of micro level economic analysis
4 Understanding the formulation and implementation of economic policies at the local, national, regional, and/or global level X
5 Learning different approaches on economic and related issues X
6 Acquiring the quantitative and/or qualitative techniques in economic analysis X
7 Improving the ability to use the modern software, hardware and/or technological devices
8 Developing intra-disciplinary and inter-disciplinary team work skills
9 Acquiring an open-minded behavior through encouraging critical analysis, discussions, and/or life-long learning X
10 Adopting work ethic and social responsibility X
11 Developing the skills of communication. X
12 Improving the ability to effectively implement the knowledge and skills in at least one of the following areas: economic policy, public policy, international economic relations, industrial relations, monetary and financial affairs. X

ECTS/Workload Table

Activities Number Duration (Hours) Total Workload
Course Hours (Including Exam Week: 16 x Total Hours) 16 3 48
Special Course Internship
Field Work
Study Hours Out of Class 16 4 64
Presentation/Seminar Prepration
Homework Assignments 6 5 30
Quizzes/Studio Critics
Prepration of Midterm Exams/Midterm Jury 1 2 2
Prepration of Final Exams/Final Jury 1 2 2
Total Workload 146