ECON311 MONETARY THEORY AND POLICY
| Course Code: | 3110311 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 6.5 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Prof.Dr. ELİF AKBOSTANCI ÖZKAZANÇ |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
This course is designed to provide the students with an understanding of
- the role of money in the economy
- general state of the financial markets
- impact of financial markets on the domestic and international economic system
- monetary policy tools and strategies
- monetary transmission mechanisms
Course Content
Monetary theory and policy tools. An overview of the financial mechanism. Interest rate determination and the working of the capital market. Analysis of the demand and supply of money. Monetary transmission mechanism and monetary approach to balance of payments. Selected macro models in which money appears as an endogenous variable. Special applications to Turkey.
Course Learning Outcomes
Upon completion of this course students are expected
- to evaluate the role of the institutions of the financial system
- to asses the appropriate monetary policy strategy
- to understand the relationship between the monetary policy tools and monetary policy strategy
- to develop a perspective on the role and limits of the monetary policy in economic activity
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Use and develop skillfully economic concepts and theories, analyse economic behaviour and events by conceptualizing and evaluating via scientific methods (Has skills regarding theory and analysis) | ✔ | |||
| 2 | Evaluate how economic policies affect economic performance and how economic interest, relationship and interaction affect policy decisions (Knowledgeable about economic policies) | ✔ | |||
| 3 | Design and carry out studies regarding data collection, analysis and evaluation, that can be used in decision processes at every level (individual, firm, government, etc.)(Knowledgeable about quantitative and qualitative methods) | ✔ | |||
| 4 | Evaluate systematically and compare economic knowledge, phenomena and methodology; Develop critical, creative/innovative approaches to these (Critical, creative, innovative) | ✔ | |||
| 5 | Understand current economic phenomena and relevant political developments using information and data from various resources and provide multifaceted explanations (Concerned about current events) | ✔ | |||
| 6 | Follow developments in economic theory and methods; Be open to continuous learning (Open to continuous learning) | ✔ | |||
| 7 | Have skills to work independently and in a team (Individual and teamwork) | ✔ | |||
| 8 | Approach critically to economic and societal events and problems while being sensitive to social problems; Produce solutions to these problems by scientific approach; Share own thoughts (Sensitive to social problems) | ✔ | |||
| 9 | Communicate clearly, effectively and fluently (in English and Turkish) verbally and in writing, utilizing new technologies (Has effective communication skills) | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution