Course Name Code Semester T+U Hours Credit ECTS
Monetary Policy UFI 520 0 3 + 0 3 7
Precondition Courses
Recommended Optional Courses
Course Language Turkish
Course Level yuksek_lisans
Course Type Optional
Course Coordinator Prof.Dr. MUSTAFA ÇALIŞIR
Course Lecturers
Course Assistants Research Assistants of the department
Course Category
Course Objective The goal of this course is to introduce monetary policy instruments and to understand the role of monetary policy in economic and financial crises.
Course Content This course covers some topics in monetary policy, such as monetary policy instruments, rational expectations and monetary neutrality, and central bak independency. Issues in monetary policy section includes inflation targeting, monetary targeting and exchange rate targeting. The role of monetary policy in economic and financial crises is another topic in this course. Eviews application is an importand part of this course.
# Course Learning Outcomes Teaching Methods Assessment Methods
1 Explain the goal of monetary policy; Lecture, Question-Answer, Discussion, Drilland Practice, Self Study, Testing, Homework,
2 Discuss the instruments and efficiency of monetary policy; Lecture, Question-Answer, Discussion, Drilland Practice, Self Study, Oral Exam, Homework,
3 Compare monetary policy regimes; Lecture, Question-Answer, Discussion, Drilland Practice, Problem Solving, Testing, Oral Exam, Homework,
4 Evaluate and exchange rate theories; Lecture, Question-Answer, Discussion, Drilland Practice, Self Study, Testing, Oral Exam, Homework,
5 Discuss fiscal and monetary policy interaction; Lecture, Question-Answer, Discussion, Drilland Practice, Self Study, Testing, Oral Exam, Homework,
6 Evaluate the role of monetary policy in economic crises; Lecture, Question-Answer, Discussion, Drilland Practice, Self Study, Testing, Homework,
7 Describe issues in monetary policy; Lecture, Question-Answer, Discussion, Drilland Practice, Self Study, Testing, Oral Exam, Homework,
8 Use Eviews programme; Lecture, Question-Answer, Discussion, Drilland Practice, Self Study, Testing, Homework,
9 Make comments on Turkish and world economy; Lecture, Question-Answer, Discussion, Simulation, Self Study, Problem Solving, Testing, Homework,
10 Discuss central banking. Lecture, Question-Answer, Discussion, Drilland Practice, Group Study, Problem Solving, Testing, Homework,
Week Course Topics Preliminary Preparation
1 Monetary policy´s aim and instruments Fatih Özatay (2011) Part 1
2 Monetary policy theory and efficiency discussions Sekmen (2012), Bain (2003) Bölüm 9 ve Mishkin (2007)
3 Rational expectations and money neutrality Barro (1976) makalesi ve Barro ve Fisher (1973) makalesi
4 Issues in monetary policy: Monetary transmission mechanism McCallum (1989) ve Sekmen (2012) ve makaleler
5 b) Central bank independency and monetary policy Sekmen (2012), Özatay (2011) ve makaleler
6 c) Open economy monetary policy and exchange rate dynamics Sekmen (2012) ve Michael (2003)
7 d) Inflation targeting, monetary targeting, and exchange rate targeting Sekmen (2012) ve Michael (2003)
8 Midterm Exam
9 e) The transmission mechanism of monetary policy Fatih Özatay (2011) ve LeRoy ve VanHoose (2006)
10 Financial stability, the theory of financail crises and monetary policy Bain (2003) Bölüm 10, Fatih Özatay (2011) Bölüm 16
11 Currency substitution: reasons, effects, measurement and monetary policy Sekmen (2012) ve Mishkin (2007)
12 Introduction to Eviews and analysis with real data Lecture notes
13 Money and banking in Turkey Lecture notes
14 Paractice with Eviews and project writing Lecture notes
Resources
Course Notes Lecture Notes and Book Chapter
Course Resources 1.Fuat sekmen, Para teorisi, Seçkin, 2012
2.Fatih Özatay, Parasal İktisat, Efil, 2011.
3.Nur Keyder, Para Teori Politika Uygulama.
4.Frederic S. Mishkin, The Economics of Money Banking and Financial Markets, Addison- Wesley, Fifth edition, 2006
5.Bain, Keith. Monetary Economics: Policy and Its Theoretical Basis, Gordonsville, Va, USA: Palgrave Macmillan,2003.
6.Miller ve VanHoose (2006, Money, Banking and Financial Markets, South-Western.
Order Program Outcomes Level of Contribution
1 2 3 4 5
1 they constitute an idea in economic subjects analitically and advocacy this idea coherent and critique the ideas constituted by others X
2 -They have knowledge about the microeconomic theory, financial economic and macroeconomics with numerical and graphical methods X
3 They know econometric theories and have ability to solve economic problems by using these theories X
4 X
5 They are specialists at some of theese areas:public economics, industrial economics,money and banking economics, environment and natural sources economics, labour economics, knowledge and property economics, international trade and finance economics, economic growth and development X
6 they use basic computer programs helping to make economic analysis X
7 they have proffecional, social and scientific etic value X
Evaluation System
Semester Studies Contribution Rate
1. Ödev 100
Total 100
1. Yıl İçinin Başarıya 20
1. Final 80
Total 100
ECTS - Workload Activity Quantity Time (Hours) Total Workload (Hours)
Course Duration (Including the exam week: 16x Total course hours) 16 5 80
Hours for off-the-classroom study (Pre-study, practice) 16 5 80
Mid-terms 1 4 4
Quiz 1 6 6
Final examination 1 5 5
Total Workload 175
Total Workload / 25 (Hours) 7
dersAKTSKredisi 7