Advanced Macroeconomic Analysis I

Course Code:

ECON 606

Semester:

Autumn

Course Type:

Core

P:

3

Lab:

0

Credits:

3

ECTS:

10

Course Language:

English

Course Objectives:

This course is the first part of a two course sequence. The aim of the sequence is to make sure that the students taking the course understand the development of macroeconomic analysis in the 20th century. This particular course starts with the emergence of macroeconomics and focuses on the essentials of macroeconomic analysis.

Course Content:

The course begins with a description of the current state of the Turkish economy. We then turn to a discussion of the pre-Keynesian macroeconomic analysis. The controversy in the theory of capital is used to criticize the neoclassical approach. Keynesian ideas are presented as a solution to the problem of unemployment. We then turn to the assimilation process of Keynes' new ideas within the neoclassical paradigm. The course ends with a discussion of an alternative representation of Keynes' analysis.

Teaching Methods:

Lecture, Question-Answer, Discussion

Assessment Methods:

Testing, Homework

Vertical Tabs

Course Learning Outcomes

Learning Outcomes	Program Learning Outcomes	Teaching Methods	Assessment Methods
Being clear on the state and problems of the Turkish economy.	1,2,3,4,5	1, 2, 3	A,C
Understanding that there are different viewpoints in macroeconomics.	1,2,3,4,5	1, 2, 3	A,C
Understanding and critically evaluating the development of macroeconomics in the 20th century.	1,2,3,4,5	1, 2, 3	A,C
Being able to critically evaluate mainstream viewpoints	1,2,3,4,5	1, 2, 3	A,C
Being able to see the theoretical basis underlying maceoeconomic proposals.	1,2,3,4,5	1, 2, 3	A,C

Course Flow

COURSE CONTENT
Week	Topics	Study Materials
1	Introduction to Macroeconomics	Modern Macroeconomics, Ch. 1.
2	Current State of the Turkish Economy	Readings T.B.A.
3	Current State of the Turkish Economy	Readings T.B.A.
4	Neoclassical Analysis: Part I	Richard Froyen, Macroeconomics, Ch. 2, Snowdon & Wane, Modern Macroeconomics, Ch. 2.1-5.
5	Neoclassical Analysis: Part II	Richard Froyen, Macroeconomics, Ch. 3, Snowdon & Wane, Modern Macroeconomics, Ch. 2.1-5.
6	Critique of the Neoclassical Approach from the point of view of the Capital Controversy: Part I	Readings T.B.A.
7	Critique of the Neoclassical Approach from the point of view of the Capital Controversy: Part II	Readings T.B.A.
8	MID-TERM
9	Keynes’ Theory of Output and Employment	Richard Froyen, Macroeconomics, Ch. 5, Snowdon & Wane, Modern Macroeconomics, Chs. 2.6-17.
10	Keynes’ Theory of Output and Employment	Richard Froyen, Macroeconomics, Ch. 5, Snowdon & Wane, Modern Macroeconomics, Chs. 2.6-17.
11	IS-LM Interpretation of Keynes' Analysis	Richard Froyen, Macroeconomics, Chs. 6 & 7, Snowdon & Wane, Modern Macroeconomics, Ch. 3.
12	Grand Neoclassical Synthesis	Richard Froyen, Macroeconomics, Ch. 8.
13	Grand Neoclassical Synthesis	Richard Froyen, Macroeconomics, Ch. 8.
14	Post-Keynesian Economics	Snowdon & Wane, Modern Macroeconomics, Ch. 8.

Recommended Sources

RECOMMENDED SOURCES
Textbook		Richard Froyen, Macroeconomics, Pearson, 2013; Brian Snowdon and Howard Wane, Modern Macroeconomics, Edgar Elgar, 2005.
Additional Resources		There are additional readings in the form original articles and books.

Material Sharing

MATERIAL SHARING
Documents		Textbooks, books, journal articles and lecture notes.
Assignments
Exams		A Mid-term and a Final

Assessment

ASSESSMENT
IN-TERM STUDIES	NUMBER	PERCENTAGE
Mid-terms	1	50
Quizzes (attendance, presentation, etc.)	0
Assignments	0
	Toplam	50
Contribution of the Final Examination to Overall Grade	1	50
Contribution of the in-Term Studies to Overall Grade	1	50
	Toplam	100
COURSE CATEGORY	Required

Course’s Contribution to Program

COURSE'S CONTRIBUTION TO PROGRAM
No	Program Learning Outcomes	Contribution
		1	2	3	4	5
1	Formulate and develop a critical and comprehensive understanding of global and national economic problems, and construct and design practical solutions;					x
2	Extract information and concepts from various disciplines in social sciences and integrate them under the rubric of economics;					x
3	Construct testable hypotheses to find original, practical solutions to various social ills and problems;			x
4	Develop an analytical understanding of economic problems, and the ability to evaluate the inherent logic, assumptions and conclusions of alternative approaches;					x
5	Develop the necessary technical skills to evaluate alternative approaches in economics;					x
6	Formulate research projects, plan and conduct research in social sciences in general and in economics in particular;			x
7	Present the results of their research in national and international conferences and in scientific and professional venues;			x
8	Apply the scientific / academic modes of thought and analysis to their professional lives and form a bridge between the analytical and abstract modes of thinking of academia and the practical and dynamic skills of business life.		x

ECTS

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COUSE DESCRIPTION
Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Course Duration (Including the Exam Week: 15 x total course hours)	15	3	45
Hours for off-the-classroom study (Pre-study, practice)	15	10	150
Mid-terms	1	10	10
Quizzes (attendance, presentation, etc.)	3	3	9
Assignments	2	7	14
Final Examination	1	10	10
Total Work Load			238
Total Work Load / 25 (s)			9,52
ECTS Credit of the Course			10

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