Open Economy Macroeconomics

Course Code: 
AFN 222
Course Period: 
Spring
Course Type: 
Core
P: 
3
Lab: 
0
Credits: 
3
ECTS: 
6
Course Language: 
İngilizce
Course Objectives: 
The aim of the course is to acquaint the students with the conceptual basis and the necessary analytical tools for understanding the impacts of globalization on macroeconomic theories, foreign exchange systems and monetary policies of central banks.
Course Content: 

The Open Economy Macroeconomic theory: Definitions of macroeconomic terms, the functions of money, the demand for money, the money supply process, interest rates, Aggregate Supply and Aggregate Demand; The theory of Free Trade: The Foreign Exchange Market and Exchange Rates, Foreign Exchange Determinations; Monetary policy: Different monetary policy tools, the conduct and transmission mechanisms of monetary policy; European Monetary system and International Monetary system.

Course Methodology: 
1: Lecture, 2: Question-Answer, 3: Discussion; 4: Simulation; 5: Case Study
Course Evaluation Methods: 
A: Testing, B: Presentation C: Homework, D: Project, E: Laboratory

Vertical Tabs

Course Learning Outcomes

Learning Outcomes

 

Program Learning Outcomes

Teaching Methods

Assessment Methods

  1. To be able to explain a number of open macroeconomic models and related policy issues.

 

4

1,2,3

A,B

  1. To be able to describe the implications of international trade and capital movements for macroeconomic aggregates.

 

 

4,5

1,2,3

A,B

  1. To be able to identify the principal areas of concern in the foreign exchange policies.

 

9

1,2,3

A,B

  1. To be able to interpret how government policies affect macroeconomic outcomes.

 

4,5,9,10

1,2,3

C

 
 

Course Flow

Week

Topics

Study Materials

1

Introduction-General Review 

Textbook-Introduction

2

What is Balance of Payments?

Textbook

3

An Economic Analysis of Foreign Exchange Markets

Online resources

4

Principles of Determination Process of Foreign Exchange Rates

Textbook,

Online resources

5

Regulation on Foreign Exchange Rates

Textbook, Article

6

Regulation Principles

Textbook

7

Flexible and Fixed Exchange Rates

Textbook,

Online resources

8

Macroeconomic Coordination Between Terms and Money Markets

Textbook

9

European Monetary System

Textbook

10

International Monetary System

Textbook

11

IS-LM Model

Textbook,

Online resources, Lecture Notes

12

Monetary System

Textbook,

Online resources

13

Aggregate Demand and Supply Analysis

Textbook,

Online resources, Lecture Notes

14

Money and Foreign Exchange Rates

Textbook

15

Final

 

 

Recommended Sources

Textbook

  • Salvatore, D. (2005).”Introduction to International Economics”. Wiley International Edition, 1st Edition.

 

Additional Resources

  • Bade R., Parkin M. (2013) “Foundations of Economics” Addison- Wesley, 6th  Edition.

 

      Course web site, financial calculator, online resources, articles, lecture notes.

 
 

Material Sharing

Documents

Homework assignments, Guidelines for term project, Several articles

Assignments

Homework assignments

 

Exams

Midterm Exam and Final Exam

 
 

Assessment

IN-TERM STUDIES

NUMBER

PERCENTAGE

Mid-terms

1

60

Assignments

6

20

Term project

1

20

Total

 

100

CONTRIBUTION OF FINAL EXAMINATION TO OVERALL GRADE

 

60

CONTRIBUTION OF IN-TERM STUDIES TO OVERALL GRADE

 

40

Total

 

100

 

 

COURSE CATEGORY

Expertise/Field Courses

 
 

Course’s Contribution to Program

No

Program Learning Outcomes

Contribution

1

2

3

4

5

 

1

Graduates of International Finance gain multinational proficiency to simplify the working conditions for them at multi-cultural workplaces, and remove the communication barriers with the assistance of more than one foreign language in both verbal and written communication skills.

 

 

x

 

 

 

2

Graduates of International Finance have been prepared in terms of law codes for expected and unexpected financial issues in their career.

 

 

x

 

 

 

3

Graduates of International Finance might apply in relevant lectures which are supported by exercises in finance laboratory, can experience 21th century’s current technologies and programmes in area of finance.

 

x

 

 

 

 

4

Graduates of International Finance participate in current finance system by accelerating them both theoretically and empirically to the working conditions of business life which instructs a basis to analyze and interpret every-day actions in financial markets.

 

 

 

 

x

 

5

Graduates of International Finance might realize the real dynamics behind business life in finance sector by utilizing their knowledge, experiences and gains on case studies from lectures; in addition to that their attitudes in social responsibility issues and ethical values can contribute to the development of the current financial system.

 

 

 

 

 

x

 

6

Graduates of International Finance might develop projects between finance and different disciplines by using their skills such as leadership, team working, effective communication.

 

 

x

 

 

 

7

A graduate of international finance can analyze and interpret stock markets and international financial markets; at the same time in these markets they can do derivatives transactions.

 

 

 

x

 

 

8

A graduate of international finance using basic financial principals with the help of mathematical and statistical knowledge to form the decision making process can collect data, analyze and can form the necessary models in the financial markets.

 

 

x

 

 

 

9

A graduate of international finance can recognize management tools, international financial markets and financial intermediaries and organizations. When one reaches a carrier high point of working at the financial management department of a multinational firm one will know how to utilize these traits and make the most of the moment.

 

 

 

x

 

 

10

Graduates of international finance will be able to take responsibility in the fast pace changing working conditions, economic and financial situations. They will be able to adapt with ease and be able to manage the process with analytical and creative approaches.

 

x

 

 

 

 

11

Graduates of international finance with the ability they gained of critical thinking through the program, will be able to examine the political situation in the international market, have an understanding of the legal, political and technological powers and when necessary will be able to pass on the knowledge and analysis they have gathered.

 

 

x

 

 

 

 
 

ECTS

Etkinlik

SAYISI

Süresi
(Saat)

Toplam
İş Yükü
(Saat)

Ders Süresi (Sınav haftası dahildir: 15x toplam ders saati)

15

3

45

Sınıf Dışı Ders Çalışma Süresi(Ön çalışma, pekiştirme)

15

4

60

Ara Sınav

1

5

5

Ödev

6+1(Proje)

(2+8)

10

Final

1

10

10

Toplam İş Yükü

 

 

140

Toplam İş Yükü / 25 (s)

 

 

5.6

Dersin AKTS Kredisi

 

 

6

 
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