Ondokuz Mayıs Üniversitesi Bilgi Paketi - Ders Kataloğu

Description of Individual Course Units

Course Unit CodeCourse Unit TitleType of CourseYearSemesterECTS
2306046022012 Macroeconomic Analysis II 927001 1 2 7
Level of Course Unit
Second Cycle
Objectives of the Course
The course helps post graduate students to identify and analyze macroeconomic issues such as unemployment, inflation, external deficits, budgetary deficits, economic growth.
Name of Lecturer(s)
Prof.Dr. Nurettin Öztürk
Learning Outcomes
  1. Know the reasons, impacts and costs of unemployment and develop policies to avoid unemployment.
  2. Know the reasons and impacts of inflation. Furthermore, define strategies to decrease inflation and develop policies for inflation-unemployment relation.
  3. Analyze the impacts of public deficits and budgetary deficits and develop solutions.
  4. Develop methods for macroeconomic challenges. Represent solutions through presentations and share information
  5. Analyze economic growth, know the reasons of growth and develop policies
Mode of Delivery
Formal Education
Prerequisites and co-requisities
None
Recommended Optional Programme Components
None
Recommended or Required Reading
•Romer, David (2010), Advanced Macroeconomics, 4th Ed., McGraw-Hill.
•Blanchard, Oliver (2010), Macroeconomics, 5th. Ed., Pearson.
•Farmer, Roger E.A (1998), Macroeconomics, South-Western Pub.
•Yıldırım, Kemal, Doğan Karaman ve Murat Taşdemir (2012), Makro Ekonomi, 10. Baskı, Seçkin Yayınları, Ankara.
•Felderer, Bernhard ve Stefan Homburg (2010), Makro İktisat ve Yeni Makro İktisat, (Çev.: Osman Aydoğuş ve N. Oğuzhan Altay), Efil Yayınevi, Ankara.
Planned Learning Activities and Teaching Methods
Language of Instruction
Turkish
Work Placement(s)
None
Course Contents
Analysis of Unemployment and Inflation (level of natural unemployment, Phillips curve analysis, stagflation, strategies for decreasing level of inflation), Budget deficits and external deficits (Amount and control of budgetary deficits, sustainability of public deficits, relation between budget deficit and inflation, supply-sided approach in fiscal policy, stock-flow equilibrium in open economy), Growth (neoclassical growth model, endogenous growth model, unemployment-inflation and growth), Micro bases of Macroeconomics (consumption, investment, money supply-money demand)
Weekly Detailed Course Contents
Week Theoretical Practice Laboratory
1.Unemployment: Full employment and natural unemployment level
2.Reasons and costs of unemployment, strategies to avoid unemployment
3.Inflation: Measuring, costs, indexation in inflation
4.Relation between inflation and unemployment: Phillips Curve Analysis
5.Stagflation; money, inflation and interest rates, strategies of decreasing inflation, hyperinflation, political side of inflation and unemployment
6.Public Finance: Budget income and expenditure, public deficits, budget constraint of state and financing public deficits
7.Deficits and national debt, sustainability of public deficits, relation between budgetary deficits and inflation, impacts of public debts
8.Supply-sided economic policy (labor supply of tax cuts, savings, impacts on savings and tax revenues), Determination of exchange rates (Purchasing power parity, asset pricing model),
9.Dynamics of exchange rate (Overshooting model, expectations and exchange rate), IS-LM-BP analysis under price elasticity
10.Stock-flow equilibrium, budgetary equilibrium and stock-flow equilibrium in open economy
11.Seminar Presentation
12.Economic growth: Production function and origins of growth
13.Neoclassical growth model; savings, capital accumulation, revenue; process of neoclassical model in Cobb-Douglas production function
14.Population growth, impacts of technological progress
15.Human capital and endogenous growth theory
16.Growth in open economy, questions that growth theories are seeking for answer
Assessment Methods and Criteria
Term (or Year) Learning ActivitiesQuantityWeight (%)
Midterm Examination160
Seminar140
SUM100
End Of Term (or Year) Learning ActivitiesQuantityWeight (%)
Final Examination1100
SUM100
Term (or Year) Learning Activities40
End Of Term (or Year) Learning Activities60
SUM100
Workload Calculation
ActivitiesQuantityTime(hours)Total Workload(hours)
Midterm Examination111
Final Examination122
Attending Lectures14342
Discussion177
Question-Answer31030
Individual Study for Homework Problems157105
SUM187