Course Information

Semester	Course Unit Code	Course Unit Title	T+P+L	Credit	Number of ECTS Credits	Last Updated Date
2	ECON 102	Principles of Macroeconomics	2+2+0	3	5	17.06.2023

Course Details

Language of Instruction	English
Level of Course Unit	Bachelor's Degree
Department / Program	BA Program in Economics
Type of Program	Formal Education
Type of Course Unit	Compulsory
Course Delivery Method	Face To Face
Objectives of the Course	This introductory course aims to develop an understanding of the basic aggregate macroeconomic variables such as national income, economic growth, productivity, monetary and fiscal policies, unemployment, inflation, and economic fluctuations.
Course Content	Overview on Macroeconomics Ten Principles of Economics Macroeconomic Map What are macroeconomic objectives? Economic Systems Measuring a Nation’s Income GDP Measurement & Components Nominal versus Real GDP Measuring the Cost of Living The Consumer Price Index nominal and real interest rates Inflation Production and Growth What is Economic Growth Productivity and its determinants Saving, Investment and Financial System Saving and Investment in the National Income accounts Markets for loanable funds. Basic Tools of Finance Present Value of Money Risk Management Asset Valuation Unemployment What is Unemployment? Measurement of unemployment Inflation and Unemployment The Monetary System Money definition. Functions & kinds of money. Banks & money supply. Money Growth & Inflation The Classical Theory of Inflation The costs of inflation Open Economy Macroeconomics: Basic Concepts International flow of goods & capital Real & nominal exchange rates Purchasing power parity A Macroeconomic Theory of the Open Economy Supply and demand for loanable funds and foreign currency exchange equilibrium in an open economy Policies and events that affect an open economy Aggregate Demand and Supply Economic fluctuations Case of economic fluctuations The Aggregate-Demand curve The Aggregate-Supply curve Monetary & Fiscal Policy How monetary policies affect aggregate demand? How fiscal policies affect aggregate demand? Using policies to stabilize the economy The Short-Run Trade-off between Inflation and Unemployment The Phillips Curve (PC) Shifts in the PC and role of expectations. shifts in the PC and role of supply shocks. Costs of reducing Inflation
Course Methods and Techniques
Prerequisites and co-requisities	None
Course Coordinator	Prof.Dr. Hasan Vergil
Name of Lecturers	None
Assistants	None
Work Placement(s)	No

Recommended or Required Reading

Resources	Principles of Economics, Gregory Mankiw
Course Notes	Required Textbook: Mankiw, N.G. Principles of Economics. (7th Edition). Other Sources: Lecture Notes & Tutorial Sheets

Course Category

Social Sciences	%30
Field	%70

Planned Learning Activities and Teaching Methods

Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"

Assessment Methods and Criteria

In-Term Studies	Quantity	Percentage
Mid-terms	1	% 20
Assignment	3	% 30
Attendance	14	% 15
Final examination	1	% 35
Total	19	% 100

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration	Total Work Load
Course Duration	14	4	56
Hours for off-the-c.r.stud	15	2	30
Assignments	5	2	10
Mid-terms	1	10	10
Practice	14	1	14
Final examination	1	30	30
Total Work Load			Number of ECTS Credits 5 150

Course Learning Outcomes: Upon the successful completion of this course, students will be able to:

No	Learning Outcomes
1	To help students understand recent developments and key concepts in macroeconomics using theoretical, graphical and simple algebraic methods.
2	To identify the concepts in macroeconomics
3	To evaluate the scope for policy to improve macroeconomic performance.

Weekly Detailed Course Contents

Week	Topics	Materials
1	Introduction & Course Overview Overview on Macroeconomics Ten Principles of Economics Macroeconomic Map What are macroeconomic objectives? Economic Systems Measuring a Nation’s Income GDP Measurement & Components Nominal versus Real GDP	Chapter 23 (pp.483-504)
2	Measuring the Cost of Living	Chapter 24 (pp.505-520)
3	Production and Growth	Chapter 25
4	Saving, Investment and Financial System	Chapter 26
5	Basic Tools of Finance	Chapter 27
6	Unemployment	Chapter 28
7	Midterm Exam
8	The Monetary System	Chapter 29
9	Money, Growth and Inflation	Chapter 30
10	Open Economy Macroeconomics: Basic Concepts	Chapter 31
11	Macroeconomic Theory of the Open Economy	Chapter 32
12	Aggregate Demand and Supply	Chapter 33
13	Monetary and Fiscal Policy	Chapter 34
14	Inflation and Unemployment	Chapter 35

Contribution of Learning Outcomes to Programme Outcomes

	P1	P2	P3	P4	P5	P6	P7	P8	P9
All	1
C1		1	2			3		4
C2				4			2		4
C3					5

Contribution: 1: Very Slight 2:Slight 3:Moderate 4:Significant 5:Very Significant

https://obs.ihu.edu.tr/oibs/bologna/progCourseDetails.aspx?curCourse=210076&lang=en